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There are many opportunities out there to make 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 because it costs so much 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 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 as you can start investing in real estate with as little as $5.
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Although they promote an option to begin with $500, once you enroll for free you can navigate their offerings. They really have a Student Housing REIT that has a minimum investment of $5.
Their intention is to produce real estate investing accessible to everyone and that's exactly what they're doing.
Dividend income is money paid to shareholders of stocks in the form of cash 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 each 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 certain that you educate yourself and select solid stocks so that you can depend on for dividend income for years to come.
Peer-to-peer lending is when you loan other folks 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 greater income results than a typical savings or money market account.
If you are looking for a lower risk option, check out Worthy. They offer $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, so that you can take it out at anytime.
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This means if for any reason you need your money back, then you are 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 every month. Talk about a very simple form of passive income. Getting out of debt quickly can increase your income even more because youre no longer paying interest to creditors each month.
One method to speed up your debt payoff would be to lower your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, have a look at Credible, which features loan rates as low as 4.99% for refinancing your credit card debt.
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Are you looking for a low-risk method to make passive income Then consider opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% that's unreal.
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 work of creating the publication is done, selling books can be a great method to produce some serious residual income.
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Once your book can be found on a site like Amazon, you could receive a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer you spend marketing your publications, the more money youll earn.
You can hire a maid service to clean and prep the space following a guess leaves. This may 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 bedrooms.
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If you've got a site already then this is a no-brainer. Some folks are making over $50,000 per month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
In case 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 seen on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.