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There are many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. These are legit ways for you to make money while you sleep with 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.
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If you want an easy, low-cost way 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 property investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with as little as 5.
Although they promote an option to start with $500, once you enroll free of charge you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
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Their goal is to produce real estate investing accessible to everyone and that's exactly what they are doing.
Dividend income is money paid to investors of stocks in the form of money in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to make a living with passive income, as they'll get payouts each quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you are going to go this route, ensure that you educate yourself and pick 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.
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If you're looking for a lower risk option, check out Worthy. They offer $10 bonds and cover a 5 percent return. One unique thing about these is that your money is liquid, so you can take it out at anytime.
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 kind of passive income. Getting out of debt fast can increase your income even more since youre no longer paying interest to creditors each month.
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One way to boost your debt payoff would be to decrease your interest rate. In case you've got high-interest debt that you want to find a lower interest rate on, check out Credible, which offers loan amounts as low as 4.99% to refinancing your credit card debt.
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Although this wont make you filthy rich, it'll be a safer way to create consistent income and not lose your money since CIT FDIC insured.
Once the initial task of creating the book is done, selling novels can be a fantastic way to create some serious residual income.
Once your book is available on a website like Amazon, you could receive a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your books, the more money youll earn.
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Do you have an extra room that you seldom use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of people use Airbnb to find somewhere to stay instead of staying in a hotel, sometimes even for months at a time.
You can hire a maid service to clean and prep the space following a guess leaves. This will 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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If you've got a site already then this is a no-brainer. Some folks are making over $50,000 a month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
If you dont have a website, you can begin one for less than $3/month. Thats the price for getting a site sponsor a company that stores your site on servers so it can be viewed on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.