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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. These are legit means for you to make money while you sleep using something that satisfies your passion, experience, or skill-set.
Real estate can be a terrific way to generate money while you sleep. However, because it costs so much to purchase a house, using a crowdfunding platform to invest in real estate can be a more affordable option.
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If you want an easy, low-cost way to invest in income-producing commercial property, consider using a company like Fundrise. You only need $500 to get started and you can invest in more than 48 property products through property investment trusts.
Another company to consider is Rich Uncles as you can begin investing in real estate with just as little as 5.
Although they promote an option to begin with $500, once you register for free you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
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Their goal is to make real estate investing accessible to everyone and that is exactly 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 individuals wanting to earn a living with passive income, as they will get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you're going to go this route, ensure that you educate yourself and select solid stocks so that you can depend on for dividend income for many years to come.
Peer-to-peer lending is when you loan other people 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 greater income outcomes than a typical savings or money market account.
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If you are looking for a lower risk option, check out Worthy. They provide $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, so that you can take it out at anytime.
This means if for some reason you need your money back, you can get it quickly and easily.
The money youre paying in interest to creditors, the more money you have in your pocket every month. Talk about a very simple kind of passive income. Getting out of debt fast can increase your income even more since youre no longer paying interest to creditors every month.
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One way to speed up your debt payoff is to lower your interest rate. If you have high-interest debt that you want to get a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% for refinancing your credit card debt.
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Although this wont make you filthy rich, it'll be a safer way to create consistent income and not lose your money since CIT FDIC insured.
Once the initial task of creating the publication is done, selling novels can be a click here for info fantastic method to create some serious residual income.
Once your book is available on a site like Amazon, you can receive a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your books, the more money youll make.
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Do you have an extra room which you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of people use Airbnb to find a place to stay instead of staying in a resort, sometimes even for months at a time.
You can hire a maid service to clean and prep the room after a suspect leaves. This may eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 a month renting out their spare bedrooms.
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If you have a site already then this really is a no-brainer. Some people are making over $50,000 per month like Michelle who teaches others how to make money online with her class Making that site Sense of Affiliate Marketing.
If you dont have a web site, you can start one for less than $3/month. Thats the price for getting a site host a company that stores your website on servers so it can be viewed on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.