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Our next passive income idea is another twist on crowdfunding known as Patreon. The site 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 actually how the arts used to operate hundreds of years back. Back during the renaissance, artists utilized to ask the wealthy for their patrons to support their work through regular contributions.

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

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Now patrons dont come off empty-handed, you offer benefits and copies of this job. So for a writer, you might offer copies of your books. You can promise to thank patrons on your site or to market something of theirs in the long run.

Even if every patron only contributes a very small amount each month, it can still be a huge source of income. Take a look at the Patreon site to get Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of only $3 a month would be 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 really 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 used to be that you needed hundreds of thousands of dollars 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 across the country.

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

Amazon FBA provides you the opportunity to compete with all the biggest names in retailstores. Always wanted to start a toy company, proceed over Hasbro. Want a line of jeans along with your name browse around these guys stitched across the pocket, so you can now begin for only a couple of thousand in inventory.

Ive got a few interviews on the site from folks who have begun shops through Amazon FBA. Some of them are making high-income incomes in less than a year therefore $5,000 per month is readily achievable in less than that.

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Making valid passive income isnt as hard as you might think. Some of the best passive income ideas might take a little time to set up but can begin money flowing within a few months and will offer a consistent monthly income for many years or more. 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. These two phrases are often used interchangeably, but in fact they are not the same thing. There are some similarities, but there are also some large differences between remaining income and passive income.Before I move onto part of the Residual Income Series. .

First, lets have a peek at what passive income is. Passive income essentially includes any money you earn without doing any work. Often times this money comes in investments of time or money which you've already 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 that you will receive following a purchase. Usually these payments are agreed upon in advance and will continue long after the purchase. A good instance of this is royalties that someone gets for a film or book. They only write the movie 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 work.

Earning income can eventually turn into passive income over time, since you can eventually Our site 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 products online: This is one of the most common methods to earn residual income. It usually involves a fee which has to be renewed each month per week, which will make it possible for you to continue to make money after the initial sale.