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There are many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. All these are legit means for you to earn money while you sleep using something that fits your passion, experience, or skill-set.
Real estate can be a great way to make money while you sleep. However, since it costs a lot to purchase a house, 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 property, 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 since you can start investing in real estate with just as little as 5.
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Although they promote an option to start with $500, once you enroll for free you can navigate their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
Their goal is to make real estate investing available to everyone and that's exactly what they are doing.
Dividend income is money paid to investors of shares 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 each quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
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If you're going to go this route, make sure you educate yourself and select solid stocks so that you can depend on for dividend income for years to come.
Peer-to-peer lending is when you loan additional 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 common savings or money market account.
If you're looking for a lower risk option, check out Worthy. They offer $10 bonds and pay a 5 percent return. One unique thing about these is that your money is liquid, so you can take it out at anytime.
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This means if for any 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 each month. Talk about a simple kind of passive income. Getting out of debt fast can increase your income even more since youre no longer paying interest to creditors each month.
One method to speed up your debt payoff would be to lower your interest rate. In case you have high-interest debt that you want to find a lower interest rate on, have a look at Credible, which offers loan amounts as low as 4.99% for refinancing your credit card debt.
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Are you looking for a low-risk way to produce passive income Then consider Get More Info 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.
While 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 work of creating the publication is done, selling books can be a fantastic way to produce some serious residual income.
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Once your book is available on a site like Amazon, you can get a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your books, the more money youll make.
You can hire a maid service to clean and prep the space following 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 a month renting out their spare bedrooms.
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If you've got a site already then this really is a no-brainer. Some people are making over $50,000 a month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.
In case you dont have a website, 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 seen on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.