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Our next passive income notion is another twist on crowdfunding called Patreon. The site is promoted 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 work hundreds of years back. 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 gives you the opportunity to get patrons for your own works. You build a community of people interested in your work, another use of a blog that does double-duty for this passive income strategy, and then request 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 the work. So for a writer, you could offer copies of your books. You can promise to publicly thank patrons on your site or to promote something of theirs in the long run.

Even if every patron only contributes a very small amount each month, it can still be a massive source of income. Take a peek at the Patreon page to get 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 and they get cheerleaders which 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 really is one of the most exciting income thoughts Ive seen in years. Amazon FBA makes it easy to start your own retail company, to sell your own products.

It was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to send everything directly to Amazon warehouses throughout 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 the webpage on the worlds biggest internet shopping site.

Amazon FBA provides 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 with your name stitched across click resources the pocket, you can now begin for just a few thousand in inventory.

Ive got a few interviews on the blog from folks that have started shops through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $5,000 a 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 thoughts may take a little time to set up but can start money flowing within a few months and will provide a consistent monthly income for years or more. The most important point is simply to begin.

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

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

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Residual income includes payments that you will get following a sale. Usually these payments have been agreed upon in advance and will continue long after the sale. A good example 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 extra work. .

Now that you know 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 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 or week, which will allow you to continue to create money after the initial sale.