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There are many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of these shady things. All these are legit means 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. However, since it costs a lot to buy a house, using a crowdfunding system to invest in real estate can be a less expensive 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 real estate products through real estate investment trusts.
Another company to consider is Rich Uncles since you can begin investing in real estate with as little as $5.
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Although they promote an option to start with $500, once you enroll free of charge you can navigate 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 is exactly what they're doing.
Dividend income is money paid to investors of stocks in the shape of money in your bank account. Dividend-paying stocks are particularly enticing for those 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're going to go this route, be certain that 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 additional 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 common savings or money market account.
If you are looking for a lower risk option, have a look at Worthy. They offer $10 bonds and cover 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 any reason you need your money back, then you can get it quickly and easily.
The money youre paying in interest to lenders, the more money you have in your pocket each month. Talk about a very simple read here kind of passive income. Getting out of debt fast can increase your income even more because youre no longer paying interest to creditors each month.
One way to speed up your debt payoff would be to decrease your interest rate. If you have high-interest debt you want to get a lower interest rate on, check out Credible, which my sources offers loan rates as low as 4.99% for 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 such as 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 task of creating the book is done, selling books can be a fantastic way to create some severe residual income.
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Once your book can be found on a website like Amazon, you could receive a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the more time you spend marketing your books, the more money youll earn.
You can hire a maid service to clean and prep the space 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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If you've got a site already then this is a no-brainer. Some people are making over $50,000 per month like Michelle who teaches others how to make money online with her class Making Sense of Affiliate Marketing.
If you dont have a website, you can begin 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 seen on the Internet.  Click here to get special pricing of $2.95/month using Bluehost.