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There are many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of these shady things. All these are legit means for you to make money while you sleep with something that fits your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. However, because it costs a lot to purchase a house, using a crowdfunding system to invest in real estate 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 property 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 register free of charge you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
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Their goal is to make real estate investing available to everyone and that's just what they're doing.
Dividend income is money paid to shareholders 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. .
If you are going to go this route, ensure 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 3-8percent range, investing money using a company like Lending Club can get you much higher income results than a common savings or money market account.
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If you are looking for a lower risk option, check out Worthy. They provide $10 bonds and cover a 5% return. One unique thing about these is that your money is liquid, so you can take it out at anytime.
This means if for any reason you need your money back, you are my explanation able to access it quickly and easily.
The less money youre paying in interest to lenders, the more money you've got in your pocket each month. Talk about a simple kind of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to lenders each month.
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One way to boost your debt payoff would be to decrease your interest rate. In case you have high-interest debt you want to find a lower interest rate on, have a look at Credible, which offers loan amounts as low as 4.99% to refinancing your credit card debt.
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While 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 work of creating the publication is done, selling novels can be a great method to create some serious residual income.
Once your book is available on a website like Amazon, you could get a check each month for doing absolutely 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 earn.
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Do you have an extra room that you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of people use Airbnb to find somewhere to stay instead of staying at a hotel, sometimes even for months at a time.
You can hire a maid service to clean and prep the room following 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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In case you have a website already then this really 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 class Making Sense of Affiliate Marketing.
If you dont have a web site, you can start one for less than $3/month. Thats the cost for getting a site host a company that stores your website on servers so that it can be viewed on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.