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Our next passive income idea 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 really how the arts used to operate hundreds of years ago. Back during the renaissance, artists utilized to ask the rich for their patrons to support their work through regular contributions.

So now the site Patreon gives you the opportunity to get patrons for your own works. You build a community of people interested in your job, another usage of a site that will double-duty for this passive income plan, and then ask 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 job. So to get a writer, you could 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 each patron only contributes a very small amount every month, it can still be a massive source of income. Take a look at the Patreon site for 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 almost $19,000 plus they get cheerleaders which 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 market your own products.

It was that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling products. 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, pack it and even set your label on it. Then you simply run your advertising and market everything from your page on the worlds biggest internet shopping website.

Amazon FBA gives 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 jeans along with your name stitched across the pocket, you can now get started for only a couple of thousand in inventory.

Ive got a few interviews on the site from people that have started shops through Amazon FBA. A couple of them are making six-figure 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 hard as you may think. A number of the best passive income thoughts might take a little time to install but can start cash flowing within a few months and will offer a consistent monthly income for many years or longer. The most important point is simply to get started.

In part three of the series we will go over the differences between residual income and passive income. Both of these terms are often used interchangeably, but in reality they are not the exact same thing. There are some similarities, but there are also some large differences between residual income and passive income income.Before I move onto a part of the Residual Income Series. .

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

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Residual income includes payments you will get following a sale. Usually weblink these payments are agreed upon in advance and will continue long after the sale. A fantastic instance of this is royalties that someone gets to get 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 make money from your job.

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

Now that you know his response 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 goods online: This is one of the most common methods to earn residual income. It normally involves a fee that needs to be renewed each month per week, which will allow you to continue to create money after the initial sale.

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