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There are many opportunities out there to make residual income in network marketing. However, this is NOT one of these shady things. These are legit ways for you to make money while you sleep using something that fits your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. However, since 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 real estate, 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 start with $500, once you enroll free of charge you can browse their offerings. They actually have a Student Housing REIT which 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 shares in the form of money in your bank account. Dividend-paying stocks are especially enticing for those wanting to make a living with passive income, since they will get payouts each 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 you educate yourself and select solid stocks so you can depend on for dividend income for many 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 much greater income results 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 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.
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This means if for some reason you need your money back, then you are able to access it quickly and easily.
The less 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 redirected here even more since youre no longer paying interest to creditors every month.
One method to speed up your debt payoff would be to lower your interest rate. In case you've got high-interest debt you want to get a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% to 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% which is unreal.
While this wont make you filthy click here to read rich, it will be a safer way to make consistent income and not lose your money since CIT FDIC insured.
Once the initial work of creating the book is done, selling novels can be a fantastic method to create some serious residual income.
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Once your book can be found on a site like Amazon, you can get a 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 earn.
You can hire a maid service to clean and prep the room 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 is a no-brainer. Some folks 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.
In case 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 website on servers so that it can be viewed look at here on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.