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There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. All 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 terrific way to generate money while you sleep. But since it costs so much to purchase a home, using a crowdfunding system to invest in property can be a more affordable option.
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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 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 start investing in real estate with as small as $5.
Even though they promote an option to start with $500, once you enroll for free you can browse their offerings. They really have a Student Housing REIT that has a minimum investment of $5.
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Their goal is to make real estate investing accessible to everyone and that is just what they are doing.
Dividend income is money paid to shareholders of stocks in the form of money in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to make 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. .
If you are going to go this route, make sure that you educate yourself and pick 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 with a company like Lending Club can get you a lot higher income outcomes than a typical savings or money market account.
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If you're looking for a lower risk option, check out Worthy. They offer $10 bonds and pay a 5% return. One unique thing about these is that your money is liquid, which means that you can take it out at anytime.
This means if for any reason you need your money back, you can get it quickly and easily.
The less money youre paying in interest to creditors, the more money you have in your pocket every month. Talk about a simple form of passive income. Getting out of debt quickly can increase your income even more because youre no longer paying interest to creditors every month.
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One method to boost your debt payoff would be to lower your interest rate. If you have high-interest debt that you want to find a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% for refinancing your credit card debt.
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While 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 produce some serious residual income.
Once your book is available on a site like Amazon, you could get a check every month for doing absolutely 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.
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Do you have an extra room that you seldom use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of individuals use Airbnb to find a place to stay instead of staying in a resort, sometimes even for months at a time.
You can hire a maid service to clean and prep additional hints the space following a suspect 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 bedrooms.
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If you've got a website already then this really is a no-brainer. Some people are making over $50,000 a month just like Michelle who teaches others how to earn money online with her class 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 host a company that stores your website on servers so it can be seen on the Internet.  Click here to get special pricing of $2.95/month using Bluehost.