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

Patreon is really how the arts used to operate 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 site Patreon provides you the opportunity to get patrons to your own works. You build a community of people interested in your work, another use of a blog that does double-duty with this passive income plan, and then request them to make contributions every time you create something. .

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

Even if every patron only contributes a very small amount each month, it can still be a huge source of income. Have a look at the Patreon page to get Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of just $3 a month are 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 via Amazon FBA. This really is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to market your own products.

It was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. Together with Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses across the country.

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

Amazon FBA provides you the opportunity to compete with the biggest names in retail. Always wanted to start a toy company, proceed over Hasbro. Want a line of blue jeans along with your name stitched across the pocket, you can now begin for only a few thousand in inventory.

Ive got a few interviews on the blog from folks that have begun 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 valid passive income isnt as hard as you may think. A number of the very best passive income ideas may take a little time to set up but can begin money flowing within a few months and will provide a consistent monthly income for many years or more. The most important point is simply to begin.

In part three of the series we will discuss the differences between residual 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 big differences between residual 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 essentially includes any money that you earn without doing any job. Often times this money comes from investments of time or money that you have already made. With passive income that the person does not need to be directly involved with all the money they are making.

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Residual income includes payments you will receive after a sale. Usually 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 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 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's time to learn about some of the most common methods individuals use to look these up earn residual income:

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-Selling goods online: This is one of the most common ways to earn residual income. It usually involves a fee which has to be renewed each month per week, which will allow you to continue to create money their website after the initial sale.

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