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There are many opportunities out there to make residual income in network marketing. However, this is NOT one of these shady things. All these are legit ways for you to make money while you sleep with something that satisfies your passion, experience, or skill-set.
Real estate can be a terrific way to generate money while you sleep. However, since it costs so much to buy a home, using a crowdfunding system to invest in real estate can be a less expensive option.
If you want an easy, low-cost method to invest in income-producing commercial real estate, consider using a company like Fundrise. You only need $500 to begin and you can invest in more than 48 real estate products through real estate investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with as little as $5.
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Although they promote an option to start with $500, once you register for free you can navigate their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.
Their goal is to make real estate investing accessible to everyone and that's just what they're doing.
Dividend income is money paid to shareholders of stocks in the form of cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to make a living with passive income, since they'll get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
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If you are going to go this route, be sure you educate yourself and select solid stocks so you can depend on for dividend income for many years to come.
Peer-to-peer lending is when you loan additional folks money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money with a company like Lending Club can get you much higher income outcomes than a common savings or money market account.
If you are looking for a lower risk option, have a look at Worthy. They offer $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, which means that you can take it out at anytime.
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This means if for some reason you need your money back, you can get it quickly and easily.
The less money youre paying in interest to creditors, the more money you've got in your pocket each month. Talk about a very simple kind of passive income. Getting out of debt quickly can increase your go to my blog income even more since youre no longer paying interest to lenders each month.
One way to speed up your debt payoff would be to decrease your interest rate. In case you have high-interest debt you want to get a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% for refinancing your credit card debt.
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Are you looking for a low-risk method to produce passive income Then consider opening a high-yield savings account with an online bank like CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent that's unreal.
Although this wont make you filthy rich, it will be a safer way to create consistent income and not lose your money since CIT FDIC insured.
Once the initial task of creating the book is done, selling books can be a fantastic way to create some serious residual income.
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Once your book can be found on a site like Amazon, you can receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your publications, the more money youll earn.
You can hire a maid service to clean and prep the space after a suspect leaves. This will eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 per month renting out their bedrooms.
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If you have a website already then this really is a no-brainer. Some people are making over $50,000 a month just like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
If you dont have a web site, you can begin one for less than $3/month. Thats the cost for getting a website host a company that stores your website on servers so it can be seen on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.