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

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

So now the website Patreon gives you the opportunity to acquire patrons for your own works. You build a community of individuals interested in your job, another usage of a blog that will double-duty for this passive income plan, and then request them to make contributions each time you create something. .

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

Even if each patron only contributes a very small amount every month, it can still be a massive source of income. Have a peek at the Patreon page for Kinda Funny, an internet movie company. They have over 6,209 patrons that means an average of only $3 a month would be 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 really is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it easy to start your own retail company, to sell your own products.

It used to be 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 across the country.

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The manufacturer is going to put everything together, pack it and even put your tag on it. Then you simply run your advertising and sell everything from your webpage on the worlds biggest internet shopping site.

Amazon FBA gives you the opportunity to compete with 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 just a few thousand in inventory.

Ive got a couple of interviews on the blog from people who have begun stores through Amazon FBA. A couple of them are making high-income incomes in less than a year so $5,000 per month is readily attainable in less than that.

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Making legitimate passive income isnt as difficult as you may think. Some of the best passive income thoughts may take a little time to install but can start money flowing within a few months and will provide 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'll go over the differences between remaining income and passive income. These two phrases are often used interchangeably, but in reality 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 look 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 go to this web-site have already made. With passive income that the person does not have to be directly involved with all the money that they are making.

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Residual income includes payments you will get after a purchase. Normally these payments have been agreed upon in advance and will continue long after the sale. A good instance of this is royalties that someone gets for 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 work.

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

Now that you know the differences between passive and residual income, It's time to learn about some of the most common methods people use to earn Find Out More residual income:

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