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Our next passive income notion is another twist on crowdfunding known as Patreon. The website 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 operate 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 get patrons for your own works. You construct a community of people interested in your job, another use of a blog that will double-duty for this passive income strategy, and then ask them to make contributions each time you create something. .

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Now patrons dont come off empty-handed, you provide rewards and copies of the work. So for a writer, you could offer copies of your books. You could promise to 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 every month, it can still be a massive source of income. Take a look at the Patreon page for Kinda Funny, an internet movie company. They've over 6,209 patrons that means an average of only $3 a month are a monthly income of almost $19,000 plus they get cheerleaders that are always pleased to spread the word on their brand. .

Our past passive income source is creating your own brand and selling through Amazon FBA. This is one of the very exciting income ideas Ive seen in years. Amazon FBA makes it easy 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 products. Together with Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses across the country.

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The manufacturer is going to put everything together, package it and even put your tag on it. Then you just run your advertising and market everything from your webpage on the worlds largest 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 along 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 that have begun stores through Amazon FBA. Some of them are making high-income incomes in less than a year therefore $5,000 per month is readily achievable in less than that.

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Making valid passive income isnt as hard as you might think. Some of the very best passive income ideas might take a little time to install but can start money flowing within a couple of months and will offer a consistent monthly income for years or longer. The most important point is simply to get started.

In part three of the series we will go over the differences between residual income and passive income. These two phrases are often used interchangeably, but in reality they are not the exact same thing. There are some similarities, but there are also some big differences between residual income and passive income income.Before I move onto a part of the Residual Income Series. .

First, lets take a visit site look at what passive income is. Passive income basically includes any money you earn without doing any job. Often times this money comes from investments of time or money which you've made. With passive income that the person over at this website does not have to be involved with the money that they are making.

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Residual income includes payments that you will receive following a purchase. 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 film or book. They only write the film or book once, but it can continue to be sold and resold again and again, which permits you to continue to make money from your job.

Residual income can eventually turn into passive income over time, since you can eventually earn money without doing an extra work. . learn this here now

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 usually involves a fee that needs to be renewed each month per week, which will allow you to continue to make money after the initial sale.