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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. These are legit ways for you to earn money while you sleep using 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 a lot to buy a house, using a crowdfunding platform to invest in property can be a more affordable 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 property products through real estate investment trusts.
Another company to consider is Rich Uncles since you can begin investing in real estate with just as little as $5.
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Even though they promote an option to begin with $500, once you enroll for free you can browse their offerings. They really have a Student Housing REIT that has a minimum investment of $5.
Their intention is to make real estate investing available to everyone and that's exactly what they're doing.
Dividend income is money paid to shareholders of stocks in the shape of money in your bank account. Dividend-paying stocks are especially enticing for those wanting to earn a living with passive income, as they'll 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, make certain you educate yourself and pick 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 3-8percent range, investing money using a company like Lending Club can get you much higher income results 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, which means that you can take it out at anytime.
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This means if for any reason you can try this out you need your money back, then you are able to access it quickly and easily.
The money youre paying in interest to creditors, the more money you've got in your pocket every 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 each month.
One method to boost your debt payoff would be to decrease your interest rate. If you've got high-interest debt you want to find a lower interest rate on, check out Credible, which offers loan rates 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 1.55% which is unreal.
Although this wont make you filthy rich, it'll be a safer way to make 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 way to produce some severe residual income.
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Once your book can be found on a website 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 publications, the more money youll make.
You can hire a maid service to clean and prep the room following 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 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 per month just like Michelle who teaches others how to make money online with her class 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 host a company that stores your site on servers so that it can be viewed on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.