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There are many opportunities out there to create residual income in network marketing. Nonetheless, this is NOT one of these shady things. These are legit ways 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 make money while you sleep. However, since it costs so much to buy a home, using a crowdfunding system to invest in property can be a less expensive option.
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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 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 start investing in real estate with as little as $5.
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 which has a minimum investment of $5.
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Their goal is to make real estate investing accessible to everyone and that's just what they are doing.
Dividend income is money paid to shareholders of shares in the form of cash in your bank account. Dividend-paying stocks are especially enticing for individuals 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. .
If you are going to go this route, make sure that you educate yourself and select solid stocks so you can depend on for dividend income for years to come.
Peer-to-peer lending is when you loan other folks 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 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 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.
This means if for any reason you need your money back, you are able to get it quickly and easily.
The less money youre paying in interest to creditors, the more money you have in your pocket each month. Talk about a very simple form of passive income. Getting out of debt fast can increase your income even more since youre no longer paying interest to creditors each month.
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One method to speed up your debt payoff would be to lower 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 features loan amounts as low as 4.99% to refinancing your credit card debt.
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While this wont make check over here 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 task of creating the book is done, selling websites books can be a fantastic way to create some severe residual income.
Once your book is available on a website like Amazon, you could get a check every 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 earn.
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Do you have an excess room that you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of individuals use Airbnb to find a place to stay instead of staying in a hotel, sometimes even for months at a time.
You can hire a maid service to clean and prep the space following a guess leaves. This may eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 a month renting out their spare bedrooms.
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If you've got a site already then this really is a no-brainer. Some folks are making over $50,000 per 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 web site, you can start 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 get special pricing of $2.95/month using Bluehost.