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

Patreon is actually how the arts used to operate hundreds of years ago. Back during the renaissance, artists used to ask the rich to be their patrons to support their work through regular contributions.

So now the website Patreon provides you the opportunity to get patrons for your own works. You build a community of individuals interested in your job, another use of a site that does double-duty for this passive income strategy, and then ask them to make contributions every time you create something. .

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Now patrons dont come away empty-handed, you offer rewards and copies of this job. So to get a writer, you could offer copies of your own books. You could promise to publicly thank patrons on your blog or to market something of theirs in the long run.

Even if every patron only contributes a very small amount every month, it can still be a huge source of income. Take a look at the Patreon page 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 nearly $19,000 plus they get cheerleaders that are always happy 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 very exciting income thoughts Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to sell your own products.

It was that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling solutions. Together with Amazon FBA, you contract with a manufacturer to ship everything directly 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 page on the worlds largest internet shopping website.

Amazon FBA gives find more info you the opportunity to compete with the biggest names in retail. Always wanted to start a toy company, proceed over Hasbro. Want a line of blue jeans along with your name stitched across the pocket, so you can now begin for just a couple of thousand in inventory.

Ive got a couple of interviews on the blog from people who have started stores through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $5,000 a month is easily achievable in less than that.

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Making valid passive income isnt as difficult as you may think. Some of the very best passive income thoughts may take a little time to install but can start cash flowing within a few months and will provide a consistent monthly income for many years or longer. The most important point is just to get started.

In part three of the series we'll discuss the differences between residual income and passive income. Both of these terms are often used interchangeably, but in fact they are not the exact same thing. There are some similarities, but there are also some large differences between remaining income and passive income.Before I proceed onto part of the Residual Income Series. .

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

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Residual income find more information includes payments you will get following a sale. Usually these payments have been agreed upon in advance and will continue long after the purchase. A good example of this is royalties that someone gets to get a film or book. They only write the film or book once, but it can continue to be sold and resold again and again, which allows you to continue to create money from your job.

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

Now that you know the differences between passive and residual income, it is time to learn about some of the most common methods individuals use to earn residual income:

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-Selling Visit This Link products online: This is one of the most common ways to earn residual income. It normally involves a fee which needs to be renewed each month per week, which will make it possible for you to continue to make money after the initial sale.