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Our next passive income idea is another twist on crowdfunding known as Patreon. The website is encouraged as a crowdfunding website for creative people like artists and writers but its own for anyone with a side-hustle idea.

Patreon is actually how the arts used to operate hundreds of years ago. Back during the renaissance, artists used to ask the rich for their patrons to support their work through regular contributions.

So now the site Patreon gives you the opportunity to acquire patrons for your own works. You construct a community of people interested in your work, another use of a blog that does double-duty with this passive income strategy, and then ask them to make contributions every time you produce something. .

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Now patrons dont come away empty-handed, you provide rewards and copies of this work. So to get a writer, you could offer copies of your books. You can promise to publicly thank patrons on your site or to promote something of theirs in the long run.

Even if every patron only contributes a very small amount every month, it can still be a massive source of income. Have a peek at the Patreon page to get Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of just $3 a month would be a monthly income of almost $19,000 and they get cheerleaders that are always happy to spread the word on their brand. .

Our last passive income source is creating your own brand and selling via Amazon FBA. This is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to sell your own products.

It used to be that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling solutions. Together with Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses throughout the country.

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The manufacturer is going to put everything together, pack it and even set your label on it. Then you simply run your advertising and sell everything from your page on the worlds biggest internet shopping website.

Amazon FBA provides you the opportunity to compete with all the biggest names in retail. Always wanted to start a toy company, move over Hasbro. Want a line of jeans with your name stitched across the pocket, you can now get started for just a few thousand in inventory.

Ive got a couple of interviews on the site from folks who have begun shops through Amazon FBA. A couple of them are making high-income incomes in less than a year therefore $5,000 per month is readily attainable in less than that.

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Making legitimate passive income isnt as hard as you may you can try this out think. A number of the best passive income thoughts may take a little time to install but can begin cash flowing within a few months and will provide a consistent monthly income for many years or more. The most important point is just to get started.

In part three of this series we will go over the differences between remaining income and passive income. Both of these terms are often used interchangeably, but in fact they are not the exact same thing. There are a number of similarities, but there are also some big differences between remaining income and passive income income.Before I proceed onto a part of the Residual Income Series. .

First, lets take a look at what passive income is. Passive income basically includes any money that you make without doing any job. Often times this money comes from investments of time or money that you have made. With passive income the person does not need to be directly involved with the money they are making.

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Residual income includes payments you will receive after a sale. Usually these payments have been agreed upon in advance and will continue long after the purchase. A good instance of this is royalties that someone gets for a film or book. They only write the film or book once, but it can continue to be sold and resold again and again, which permits you to continue to make money from your job.

Residual income can eventually turn into passive income over time, as you can eventually earn money without doing an extra work. .

Now that you know the differences between passive and residual income, it is time to learn about some of the most common methods individuals use to earn residual income:

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-Selling products online: This is one of the most browse around these guys common methods to earn residual income. It usually involves a fee which has to be renewed each month per week, which will make it possible for you to continue to create money after the initial sale.

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