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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 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 site Patreon gives you the opportunity to acquire patrons for your own works. You construct a community of people interested in your job, another usage of a blog that will double-duty for this passive income plan, and then ask them to make contributions every time you create something. .

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Now patrons dont come away empty-handed, you provide benefits and copies of the work. So for a writer, you might offer copies of your books. You can promise to thank patrons on your blog or to promote something of theirs in the long run.

Even if every patron only contributes a very small amount each month, it can still be a massive source of income. Have a peek at the Patreon site for Kinda Funny, an internet movie company. They've over 6,209 patrons that means an average of only $3 a month would be a monthly income of nearly $19,000 plus they get cheerleaders that are always pleased 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 ideas Ive seen in years. Amazon FBA makes it easy to start your own retail company, to sell 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 across the country.

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The manufacturer is going to put useful source everything together, package it and even set your label on it. Then you just run your advertising and sell everything from the webpage on the worlds biggest 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, so you can now get started for just a couple of thousand in inventory.

Ive got a couple of interviews on the site from folks who have started stores through Amazon FBA. Some of them are making high-income incomes in less than a year therefore $5,000 a month is easily achievable in less than that.

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Making legitimate passive income isnt as difficult as you may think. A number of the best passive income thoughts may take a little time to set up but can begin cash flowing within a few months and will offer a consistent monthly income for years or longer. The most important point is just to get started.

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

First, lets have a look at what passive income is. Passive income essentially includes any money that you make without doing any job. Often times this money comes in investments of time or money that you have made. With passive income the person does not need to be directly involved with all the money they are making.

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Residual income includes payments that you will receive after a purchase. Normally these payments are agreed upon in advance and will continue long after the sale. A fantastic instance of this is royalties that someone gets to get a movie 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.

Earning income can eventually turn into passive income with time, as 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 people use to earn residual income:

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-Selling products 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 make it possible for you to continue to make money after the initial sale.