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There are many opportunities out there to make residual income in network marketing. However, this is NOT one of these shady things. All these are legit ways for you to earn money while you sleep with something that fits your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. However, since it costs so much to purchase a home, using a crowdfunding platform to invest in real estate can be a less expensive option.
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If you want an easy, low-cost method to invest in income-producing commercial property, consider using a company like Fundrise. You only need $500 to get started and you can invest in more than 48 real estate products through real estate investment trusts.
Another company to consider is Rich Uncles since you can start investing in real estate with just as little as 5.
Although they promote an option to begin with $500, once you enroll for free you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
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Their goal is to make real estate investing accessible to everyone and that's exactly what they are doing.
Dividend income is money paid to investors of shares in the shape of money in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn a living with passive income, since they will get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you are going to go this route, ensure you educate yourself and select solid stocks so that you can depend on for dividend income for many years to come.
Peer-to-peer lending is when you loan additional people money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money with a company like Lending Club can get you much higher income results than a typical savings or money market account.
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If you are looking for a lower risk option, check out Worthy. They offer $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, which means that you can take it out at anytime.
This means if for some reason you need your money back, you can access it quickly and easily.
The less money youre paying in interest to lenders, the more money you've got in your pocket every month. Talk about a simple form of passive income. Getting out of debt quickly can increase your income even more because youre no longer paying interest to lenders each month.
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One way to speed up your debt payoff is to decrease your interest rate. In case you have high-interest debt you want to find a lower interest rate on, check out Credible, which offers loan rates as low as 4.99% to refinancing your credit card debt.
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While this wont make you filthy rich, it will be a safer way to create consistent income and not lose your money since CIT FDIC insured.
Once the initial work of creating the publication is done, selling novels can be a fantastic about his method to create some serious residual income.
Once your book can be found on a site like Amazon, you could get a check every month for doing my blog nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your publications, the more money youll make.
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Have you got an extra room that you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of people use Airbnb to find somewhere to stay instead of staying in a hotel, sometimes even for months at a time.
You can hire a maid service to clean and prep the space following a guess leaves. This may eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 per month renting out their spare bedrooms.
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If you've got a website already then this really is a no-brainer. Some people are making over $50,000 a month like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.
If you dont have a web site, you can begin one for less than $3/month. Thats the cost for getting a website host a company that stores your site on servers so it can be seen on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.