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There are many opportunities out there to make residual income in network marketing. However, this is NOT one of these 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 generate money while you sleep. But since it costs a lot to purchase a house, using a crowdfunding platform to invest in property can be a less expensive option.
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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 property products through real estate investment trusts.
Another company to consider is Rich Uncles as you can begin investing in real estate with as small as $5.
Although they promote an option to begin with $500, once you enroll for free you can browse their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
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Their goal is to produce real estate investing accessible 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 individuals wanting to make a living with passive income, since they'll get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you're going to go this route, make sure that you educate yourself and select solid stocks so that 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 with a company like Lending Club can get you much greater income outcomes than a typical savings or money market account.
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If you're looking for a lower risk option, have a look at Worthy. They provide $10 bonds and cover a 5 percent return. One unique thing about them is that your money is liquid, which means that you can take it out at anytime.
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 kind of passive income. Getting out of debt quickly can increase your income even more because youre no longer paying interest to creditors each month.
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One way to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt that you want to get a lower interest rate on, have a look at 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 publication is done, selling novels can be a fantastic way to produce some serious residual income.
Once your book is available on a website like Amazon, you can get a check each dig this month for doing 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.
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Do you have an excess room which you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of people use Airbnb to find a place to stay instead of staying at a hotel, sometimes even for months at a time.
You can hire a maid service to clean and prep the room following a suspect 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 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 just 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 cost for getting a site sponsor a company that stores your site on servers so that it can be seen on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.