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There are many opportunities out there to create residual income in network marketing. Nonetheless, 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 a lot to purchase a house, using a crowdfunding platform to invest in real estate can be a more affordable 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 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 just as small as $5.
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Even though they promote an option to begin with $500, once you register for free you can browse their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.
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 investors of shares in the shape of cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to earn 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, make sure that you educate yourself and pick solid stocks so that you can depend on for dividend income for years to come.
Peer-to-peer lending is when you loan additional folks 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 a lot greater income outcomes 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 percent return. One unique thing about them 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, 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 quickly can increase your income even more because youre no longer paying interest to lenders each month.
One method to speed up your debt payoff is to lower your interest rate. In case you've got high-interest debt you site want to find a lower interest rate on, check out Credible, which 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 more than traditional banks. CIT is currently are paying 1.55% which is unreal.
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 book is done, selling books can be a fantastic method to create some severe residual income.
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Once your book can be found on a site like Amazon, you could get a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your books, the more money youll make.
You can hire a maid service to clean and prep the space after a guess 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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If you've got a site already then this really is a no-brainer. Some people are making over $50,000 a month like Michelle who teaches others how to earn 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 cost for getting a website sponsor a company that stores your site on servers so that it can be viewed on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.