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There are many opportunities out there to create residual income in network marketing. However, this is NOT one of those shady things. All these are legit means for you to earn money while you sleep with something that fits your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. However, because it costs a lot to buy a home, using a crowdfunding system to invest in property can be a more affordable option.
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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 get started and you can invest in more than 48 property products through real estate investment trusts.
Another company to consider is Rich Uncles since you can start investing in real estate with as little as 5.
Although they promote an option to begin with $500, once you register free of charge you can navigate their offerings. They really have a Student Housing REIT that has a minimum investment of $5.
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Their goal is to make real estate investing available to everyone and that is exactly what they are doing.
Dividend income is money paid to shareholders of shares in the shape of cash in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn 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. .
If you are going to go this route, ensure 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 other 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 much greater income results than a common savings or money market account.
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If you're looking for a like it lower risk option, have a look at Worthy. They offer $10 bonds and cover a 5 percent 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 any reason you need your money back, then you are able to get it quickly and easily.
The money youre paying in interest to lenders, the more money you have in your pocket each month. Talk about a very simple kind of passive income. Getting out of debt quickly can increase your income even more because youre no longer paying interest to creditors every month.
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One way to boost your debt payoff would be to decrease your interest rate. In case you have high-interest debt that 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 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 Discover More fantastic method to produce some severe residual income.
Once your book can be found on a website like Amazon, you can get a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the more time you spend marketing your publications, the more money youll make.
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Have you got an excess room which you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of individuals use Airbnb to find somewhere 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 guess 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 spare bedrooms.
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If you've got a website already then this really is a no-brainer. Some people are making over $50,000 per 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 viewed on the Internet.  Click here to get special pricing of $2.95/month using Bluehost.