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

So now the site Patreon gives you the opportunity to acquire patrons to your own works. You construct a community of individuals interested in your job, another use of a blog that will double-duty with this passive income strategy, and then request them to make contributions each time you produce something. .

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Now patrons dont come off empty-handed, you offer rewards and copies of the job. So for a writer, you could offer copies of your books. You can promise to publicly thank patrons on your blog or to promote 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 site to get Kinda Funny, an internet movie company. They have over 6,209 patrons that means an average of just $3 a month would be a monthly income of nearly $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 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 dollars for manufacturing, marketing, logistics, everything that went into selling solutions. Together 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 set your tag on it. Then you simply run your advertising and market everything from your webpage on the worlds biggest internet shopping site.

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

Ive got a few interviews on the blog from folks that have started read what he said shops through Amazon FBA. A couple of them are making six-figure incomes in less than a year therefore $5,000 a month is readily attainable in less than that.

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Making legitimate passive income isnt as hard as you might think. Some of the very best passive income ideas may take a little time to set up but can begin cash flowing within a couple of months and will offer a consistent monthly income for years or longer. The most important point is just to begin.

In part three of this series we'll discuss the differences between remaining income and passive income. These two phrases are often used interchangeably, but in fact they are not the same thing. There are a number of 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 take a look at what passive income is. Passive income basically includes any money you make without doing any job. Often times this money comes in investments of time or money that you have made. With passive income that the person does not have to be involved with all the money they are making.

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Residual income includes payments that you will get following a sale. Usually these payments have been agreed pop over to this site upon in advance and will continue long after the sale. A good instance of this is royalties that someone gets to get a movie 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 make money from your work.

Earning 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 my latest blog post 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 ways to earn residual income. It normally involves a fee which has to be renewed each month or week, which will allow you to continue to create money after the initial sale.

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