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There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of those shady things. These are legit means for you to make money while you sleep with something that fits your passion, experience, or skill-set.
Real estate can be a terrific way to make money while you sleep. But because it costs so much to buy a home, using a crowdfunding platform to invest in real estate can be a more affordable option.
If you want an easy, low-cost way 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 property investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with just as little as $5.
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Even though they promote an option to start with $500, once you enroll for free you can browse their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.
Their goal is to produce real estate investing available to everyone and that's just what they're doing.
Dividend income is money paid to shareholders of shares 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 will get payouts each 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 certain you educate yourself and pick 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 3-8% range, investing money using a company like Lending Club can get you much higher income outcomes than a common savings or money market account.
If you're looking for a lower risk option, have a look at Worthy. They offer $10 bonds and pay a 5 percent return. One unique thing about these is that your money is liquid, so that you can take it out at anytime.
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This means if for some reason you need your money back, you are able to access it quickly and easily.
The less money youre paying in interest to creditors, the news more money you've got in your pocket each month. Talk about a very simple form of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to lenders each month.
One way to boost your debt payoff is to lower your interest rate. If you have high-interest debt you want to find 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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Are you looking for a low-risk way to make passive income Then consider opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% that's unreal.
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 work of creating the publication is done, selling novels can be a great method to create some serious residual income.
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Once your book can be found on a site like Amazon, you could get a check each month go for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the more time you spend marketing your books, the more money youll earn.
You can hire a maid service to clean and prep the room following a guess 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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In case you've got a website 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 class Making Sense of Affiliate Marketing.
If you dont have a website, you can begin one for less than $3/month. Thats the price for getting a site sponsor a company that stores your website on servers so it can be seen on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.