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There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of those shady things. All these are legit means for you to make money while you sleep with something that satisfies your passion, experience, or skill-set.
Real estate can be a great way to make money while you sleep. But since it costs a lot to purchase a home, using a crowdfunding platform to invest in real estate can be a less expensive option.
If you want an easy, low-cost way to invest in income-producing commercial property, consider using a company like Fundrise. You only need $500 to get started and you can invest in more than 48 property products through property investment trusts.
Another company to consider is Rich Uncles as you can begin investing in real estate with as little as 5.
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Although they promote an option to start with $500, once you enroll for free you can navigate their offerings. They really 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 shape of money in your bank account. Dividend-paying stocks are particularly enticing for those 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. .
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If you are going to go this route, be sure 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 other people money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money with a company like Lending Club can get you a lot greater income results than a common savings or money market account.
If you're 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.
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This means if for any reason you need your money back, then you can get it quickly and easily.
The money youre paying in interest to lenders, the more money you've got in your pocket every month. Talk about a very simple kind of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to lenders every month.
One way 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 features loan amounts as low as 4.99% for refinancing your credit card debt.
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Are you looking for a low-risk method to produce passive income Then consider opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55percent which is unreal.
Although this wont make you filthy rich, it will 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 books can be a fantastic method to create some serious residual income.
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Once your book is available on a site like Amazon, address you can get a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the more time you spend marketing your books, the more money youll make.
You can hire a maid service to clean and prep the room 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 spare bedrooms.
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In case you have a site already then this really is a no-brainer. Some folks his comment is here are making over $50,000 a month 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 begin one for less than $3/month. Thats the price for getting a website host a company that stores your site on servers so that it can be viewed on the Internet.  Click here to get special pricing of $2.95/month using Bluehost.