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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 really its own for anyone with a side-hustle notion.

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

So now the site Patreon provides you the opportunity to acquire patrons for your own works. You build a community of people interested in your job, another usage of a site that does double-duty for 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 job. So to get a writer, you might offer copies of your own books. You can promise to publicly thank patrons on your blog or to market something of theirs in the long run.

Even if every patron only contributes a very small amount each month, it can still be a huge source of income. Have a peek at the Patreon site to get Kinda Funny, an internet video company. They've over 6,209 patrons which means an average of only $3 a month are a monthly income of nearly $19,000 plus they get cheerleaders which 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 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 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, package it and even set your tag on it. Then you simply run your advertising and market everything from the webpage on the worlds biggest internet shopping site.

Amazon FBA gives you the opportunity to compete with all the biggest names in retailstores. Always wanted to start a toy company, proceed over Hasbro. Want a line of jeans along with your name stitched across the pocket, so you can now get started for only a couple of thousand in inventory.

Ive got a couple of interviews on the site 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 readily attainable in less than that.

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

In part three of this series we will discuss the differences between remaining income and passive income. Both of these terms are often used interchangeably, but in reality they are not the same thing. There are a number of similarities, but there are also some large differences between remaining income and passive income income.Before I move onto 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 in investments of time or money which you've already made. With passive income the person does not have to be involved with all the money that they are making.

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Residual income includes payments that you will receive following a purchase. Usually these payments have been agreed upon in advance and will continue long after the sale. A fantastic example of this is royalties that someone gets for a movie 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 create money from your job.

Residual income can eventually turn into passive income over time, as you can eventually earn money click to read 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 people use to earn residual income:

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-Selling products online: This is one of the most common ways to earn residual income. It normally involves a fee that has to be renewed each month per week, which will allow you to continue to create money after the initial sale.