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There are many opportunities out there to create residual income in network marketing. Nonetheless, 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, since it costs so much to purchase a house, 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 begin and you can invest in more than 48 property products through property investment trusts.
Another company to consider is Rich Uncles since you can begin investing in real estate with just as small as 5.
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Even though they promote an option to start with $500, once you register for free you can browse their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
Their intention is to make real estate investing accessible 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 particularly enticing for individuals wanting to earn a living with passive income, as they will 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, be sure 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 other 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 greater 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% return. One unique thing about these is that your money is liquid, so 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 money youre paying in interest to lenders, the more money you have in your pocket every month. Talk about a very simple form 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 speed up your debt payoff would be to lower your interest rate. In case you have high-interest debt you want to get a lower interest rate on, have a look at 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 make 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% that's unreal.
While 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 book is done, selling novels can be a fantastic way to create some serious residual income.
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Once your book can be found on a website like Amazon, you can get a click here for info check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer you spend marketing your publications, the more money youll earn.
You can hire a maid service to clean and prep the space 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 really 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.
In case you dont have a website, you can begin one for less than $3/month. Thats the cost for getting a site host a company that stores your website on servers so it can be viewed on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.