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There are many opportunities out there to make residual income in network marketing. However, this is NOT one of those shady things. All these are legit ways for you to make money while you sleep with something that satisfies your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. But since it costs so much to purchase a home, using a crowdfunding platform 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 real estate, consider using a company like Fundrise. You only need $500 to begin 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 as small as 5.
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Even though they promote an option to start with $500, once you enroll for free you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
Their intention 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 shape of money in your bank account. Dividend-paying stocks are especially enticing for those wanting to make a living with passive income, as they'll get payouts every 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, make certain that you educate yourself and pick solid stocks so 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 typical savings or money market account.
If you are 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 them is that your money is liquid, which means you can take it out at anytime.
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This means if for some reason you need your money back, then you can access it quickly and easily.
The less money youre paying in interest to lenders, the more money you've got in your pocket every month. Talk about a simple form of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to see page lenders each month.
One way to boost your debt payoff would be to lower your interest rate. In case you've got 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% to refinancing your credit card debt.
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Are you looking for a low-risk way to produce passive income Then look at opening a high-yield savings account with an online bank like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55percent that's unreal.
Although 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 great way to create some severe residual income.
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Once your book is available 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. Obviously, the more time you spend marketing your publications, you could look here the more money youll make.
You can hire a maid service to clean and prep the space 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 per month renting out their bedrooms.
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If you have a website already then this really is a no-brainer. Some folks are making over $50,000 a month just like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
In case you dont have a web site, you can begin one for less than $3/month. Thats the price for getting a site host a company that stores your website on servers so that it can be viewed on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.