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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, because it costs a lot to purchase a home, 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 method to invest in income-producing commercial real estate, consider using a company like Fundrise. You only need $500 to get started 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 begin investing in real estate with just as little as $5.
Even though they promote an option to begin with $500, once you register for free you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
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Their goal is to produce real estate investing accessible to everyone and that's just what they are doing.
Dividend income is money paid to investors of stocks in the form of money in your bank account. Dividend-paying stocks are particularly 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. .
If you're going to go this route, make sure that 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 3-8% range, investing money using a company like Lending Club can get you a lot greater income results than a common savings or money market account.
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If you are looking for a lower risk option, have a look at Worthy. They provide $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.
This means if for any reason you need your money back, you can access it quickly and easily.
The less 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 because youre no longer paying interest to lenders every month.
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One method to boost your debt payoff would be to decrease your interest rate. If you've got high-interest debt you want to get a lower interest rate on, check out Credible, which offers loan amounts as low as 4.99% for refinancing your credit card debt.
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While this wont make you filthy rich, it'll be a safer way to create consistent income and not here are the findings lose your money since CIT FDIC insured.
Once the initial task of creating the book is done, selling novels can be a great way to create some severe residual income.
Once your book can be found on a website like Amazon, you can receive a check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the more time you spend marketing your books, the more money youll make.
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Have you got an excess room that you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of people use Airbnb to find a place to stay instead of staying at a resort, sometimes even for months at a time.
You can hire a maid service to clean and prep the space after a guess leaves. This will eliminate work on your end and make it truly passive income. My friend Steve and his wife make over my blog $1000 per month renting out their spare bedrooms.
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In case you've got a site already then this is a no-brainer. Some folks 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.
If you dont have a web site, you can start one for less than $3/month. Thats the cost for getting a website sponsor a company that stores your site on servers so it a knockout post can be seen on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.