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There are so many opportunities out there to make residual income in network marketing. However, this is NOT one of those shady things. All these are legit ways 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. But because it costs so much to purchase a home, using a crowdfunding platform to invest in property 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 property investment trusts.
Another company to consider is Rich Uncles since you can start investing in real estate with just as little as 5.
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Although they promote an option to start with $500, once you register for free you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
Their intention is to make real estate investing available to everyone and that's exactly what they're 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 those wanting to earn 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. .
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If you are 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 using a company like Lending Club can get you a lot greater income results than a typical savings or money market account.
If you're looking for a lower risk option, have a look at Worthy. They provide $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, which means you can take it out at anytime.
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This means if for some reason you need your money back, you can get 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 kind of passive income. Getting out of debt fast can increase your income even more because youre no longer paying interest to lenders every month.
One method to speed up your debt payoff would be to decrease your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which features loan rates as low as 4.99% for refinancing your credit card debt.
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Are you looking for a low-risk method to make passive income Then consider 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 1.55% that's unreal.
Although 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 task of creating the publication is done, selling novels can be a fantastic method to create some severe residual income.
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Once your book is available on a website like Amazon, you can get a read check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the longer you spend marketing your publications, the more money youll make.
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 spare bedrooms.
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In case you have a website already then this is a no-brainer. Some people 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.
If you dont have a website, you can start one for less than $3/month. Thats the price for getting a site host a company that stores your site on servers so that it can be viewed on the Internet.  Click here to get special pricing of $2.95/month using Bluehost.