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

Patreon is actually how the arts used to work hundreds of years back. Back during the renaissance, artists utilized to ask the wealthy to be their patrons to support their work through regular contributions.

So now the website Patreon provides you the opportunity to get patrons for your own works. You build a community of people interested in your job, another use of a blog that will double-duty with this passive income plan, and then request them to make contributions every time you create something. .

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

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

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

It was that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling products. Together with Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses throughout the country.

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The manufacturer is going to put everything together, package it and even put your tag on it. Then you just run your advertising and sell everything from your page on the worlds largest internet shopping site.

Amazon FBA provides you the opportunity to compete with the biggest names in retailstores. Always wanted to start a toy company, move over Hasbro. Want a line of blue jeans with your name stitched across the pocket, so you can now begin for only a couple of thousand in look at this site inventory.

Ive got a couple of interviews on the blog from folks who have started stores through Amazon FBA. A couple of them are making high-income incomes in less than a year so $5,000 per month is easily achievable in less than that.

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Making valid passive income isnt as difficult as you might think. Some of the very best passive income ideas might take a little time to install but can start money flowing within a few months and will provide a consistent monthly income for many years or more. official statement The most important point is simply to begin.

In part three of the series we will discuss the differences between residual income and passive income. These two phrases 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 next 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 essentially includes any money that you make without doing any job. Often times this money comes in investments of time or money which you've already made. With passive income that the person does not need to be involved with the money that they are making.

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

Earning income can eventually turn into passive income over time, since you can eventually earn money without doing an excess 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 goods online: This is one of the most 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 make money after the initial sale.