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Our next passive income idea 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 really how the arts used to work 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 site Patreon provides you the opportunity to acquire patrons to your own works. You build a community of people interested in your job, another usage of a site that does double-duty with this passive income strategy, 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 benefits and copies of this job. So to get a writer, you could offer copies of your books. You could promise to publicly thank patrons on your site or to market something of theirs in the long run.

Even if each 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 just $3 a month would be a monthly income of almost $19,000 and they get cheerleaders which are always happy to spread the word on their brand. .

Our past passive income source is creating your own brand and selling via 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. 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 just run your advertising and sell everything from the page on the worlds biggest internet shopping website.

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

Ive got a couple of interviews on the site from folks that have begun shops through Amazon FBA. A couple of them are making high-income 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 difficult as you may think. Some of look at this site the very best passive income ideas may take a little time to set up but can begin 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 go over the differences between residual income and passive income. Both of these 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 big differences between residual income and passive income income.Before I proceed onto part of the Residual Income Series. .

First, lets have a peek at what Going Here passive income is. Passive income essentially includes any money that you earn without doing any work. Often times this money comes in investments of time or money that you have already 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 receive following a sale. Usually these payments are agreed upon in advance and will continue long after the purchase. A fantastic example of this is royalties that someone gets for 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 permits you to continue to create money from your job.

Earning income can eventually turn into passive income over time, as you can this contact form 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 individuals use to earn residual income:

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-Selling goods online: This is one of the most common methods 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.