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

Patreon is actually how the arts used to work hundreds of years back. 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 gives you the opportunity to get patrons for your own works. You build a community of individuals interested in your job, another use of a site that will double-duty for this passive income plan, and then ask them to make contributions each time you create something. .

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Now patrons dont come away empty-handed, you provide rewards and copies of this job. So to get a writer, you could offer copies of your own books. You can promise to publicly thank patrons on your blog or to market something of theirs in the long run.

Even if each patron only contributes a very small amount each month, it can still be a huge source of income. Have a peek at the Patreon site to get Kinda Funny, an internet movie company. They have over 6,209 patrons that 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 is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it easy to start your own retail company, to sell your own products.

It was that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling products. 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 label on it. Then you simply run your advertising and market everything from your page on the worlds biggest internet shopping website.

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

Ive got a couple of interviews on the blog from folks that have begun 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 achievable in less than that.

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Making valid passive income isnt as hard as you might think. A number of the very best passive income thoughts might take a little time to install but can begin money flowing within a few months and will offer a consistent monthly income for many years or more. The most important point is just to begin.

In part three of the series we will discuss the differences between remaining income and passive income. These two 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.Before I proceed onto a part of the Residual Income Series. .

First, lets take a look at what passive income is. Passive income basically includes any money you earn 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 have to be directly involved with all the money that they are making.

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Residual income includes payments that you will get after a sale. Usually these payments have been agreed upon in advance and will continue long after the sale. A fantastic instance of this is royalties that someone gets for 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 Get More Information to make money from your work.

Earning income can eventually turn into passive income over time, since you can eventually earn money without doing an extra 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 ways 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.