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There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. All these are legit ways for you to make money while you sleep using something that satisfies your passion, experience, or skill-set.
Real estate can be a great way to make money while you sleep. But since it costs so much to buy a house, using a crowdfunding system to invest in property 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 get started and you can invest in more than 48 property products through property investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with just as little as 5.
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Even though they promote an option to start 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.
Their goal is to produce real estate investing accessible to everyone and that is exactly what they're doing.
Dividend income is money paid to investors of stocks in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for those wanting to make a living with passive income, since 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're going to go this route, be certain that you educate yourself and select solid stocks so that you can depend on for dividend income for many 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 3-8percent range, investing money with a company like Lending Club can get you a lot higher income results 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 these is that your money is liquid, so that 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 money youre paying in interest to creditors, the more money you've got in your pocket each month. Talk about a very simple form of passive income. Getting out of debt fast useful source can increase your income even more since youre no longer paying interest to lenders every month.
One way to speed up your debt payoff is to lower your interest rate. In case 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% to refinancing your credit card debt.
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Are you looking for a low-risk method to produce passive income Then look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent that's unreal.
While 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 books can be a great way to produce some severe residual income.
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Once your book can be found on a site like Amazon, you can receive a check every month for doing absolutely nothing. Full Article Note that spending some time developing an effective marketing plan is essential. Obviously, the longer you spend marketing check out this site your publications, the more money youll make.
You can hire a maid service to clean and prep the room 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 spare bedrooms.
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If you have a site already then this really 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 course Making Sense of Affiliate Marketing.
In case you dont have a web site, you can start one for less than $3/month. Thats the cost for getting a website sponsor a company that stores your site on servers so it can be viewed on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.