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

Patreon is actually how the arts used to operate hundreds of years ago. Back during the renaissance, artists utilized to ask the wealthy to be their patrons to support their work through regular contributions.

So now the website Patreon provides you the opportunity to acquire patrons for your own works. You construct a community of people interested in your work, another use of a blog that will double-duty with this passive income strategy, and then request them to make contributions every time you produce something. .

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Now patrons dont come off empty-handed, you offer benefits and copies of this job. So to get a writer, you could offer copies of your books. You can promise to publicly thank patrons on your blog 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 huge source of income. Have a look at the Patreon page to get Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of just $3 a month would be a monthly income of nearly $19,000 and they get cheerleaders that 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 ideas 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 bucks 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 across the country.

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

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

Ive got a few interviews on the site from folks who have started stores through Amazon FBA. A couple of them are making high-income incomes in less than a year so $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. A number of the very best passive income ideas might take a little time to install but can begin money flowing within a few months and will provide a consistent monthly income for years or more. The most important point is just to get started.

In part three of the series we'll go over the differences between remaining income and passive income. Both of these phrases are often used interchangeably, but in fact they are not the exact same thing. There are a number of similarities, but there are also some large differences between remaining income and passive income income.Before I proceed onto a part of the Residual Income Series. .

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

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

Earning income can eventually turn into passive income with time, since you can eventually 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 goods online: This is one of the most common methods to earn residual income. It usually involves a fee that needs to be renewed each month or week, which will allow you to continue to create money after the initial sale.