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

Patreon is actually how the arts used to operate hundreds of years back. 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 gives you the opportunity to get patrons to your own works. You construct a community of individuals interested in your job, another usage of a site that does 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 off empty-handed, you provide benefits and copies of the work. So for a writer, you might offer copies of your books. You could promise to publicly thank patrons on your blog or to promote something of theirs in the future.

Even if every patron only contributes a very small amount every month, it can still be a massive source of income. Have a peek at the Patreon site to get Kinda Funny, an internet video company. They have over 6,209 patrons that means an average of only $3 a month are a monthly income of almost $19,000 and they get cheerleaders which are always pleased to spread the word on their brand. .

Our past passive income source is creating your own brand and selling through Amazon FBA. This is one of the most exciting income thoughts Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to market 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 send everything straight to Amazon warehouses throughout the country.

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The manufacturer is going to put everything together, package it and even set your label on it. Then you simply run your advertising and market everything from your webpage on the worlds largest internet shopping website.

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

Ive got a couple of interviews on the site from folks who have begun shops through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 per month is easily attainable in less than that.

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Making legitimate passive income isnt as hard as you may think. A number of the very best passive income thoughts may take a little time click now to install but can start cash flowing within a couple of months and will provide a consistent monthly income for years or longer. The most important point is just to begin.

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 fact they are not the same thing. There are a number of similarities, but there are also some big differences between residual income and passive income.Before I move onto a part of the Residual Income Series. .

First, lets take a peek at what passive income is. Passive income basically includes any money you make without doing any job. Often times this money comes in investments of time or money that you have made. With passive income the person does not need to be directly involved with the money that they are making.

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Residual income includes payments you will receive following a purchase. Normally these payments are agreed upon in advance and will continue long after the purchase. A good example of this is royalties that someone gets to get 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 permits you to continue to make money from your job.

Residual income can eventually turn into passive income with time, since you can eventually earn money without doing an extra work. .

Now that look at this web-site you know the differences you can look here between passive and residual income, It's time to learn about some of the most common methods people use to earn residual income:

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-Selling goods 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.