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

Patreon is really how the arts used to operate hundreds of years ago. Back during the renaissance, artists used to ask the wealthy for their patrons to support their work through regular contributions.

So now the website Patreon provides you the opportunity to get patrons for your own works. You build a community of people interested in your job, another usage of a site that will double-duty with this passive income strategy, and then ask them to make contributions every time you create something. .

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

Even if each patron only contributes a very small amount each month, it can still be a massive source of income. Have a peek at the Patreon page to get Kinda Funny, an internet movie company. They've over 6,209 patrons which means an average of only $3 a month are a monthly income of almost $19,000 plus they get cheerleaders which 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 is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it effortless 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. Together with Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses across the country.

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The manufacturer is going to put everything together, pack 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 provides 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 blue jeans with your name stitched across the pocket, you can now get started for just a couple of thousand in inventory.

Ive got a couple of interviews on the blog from people that have begun stores through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 a month is readily attainable 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 set up but can start cash flowing within a couple of months Get More Info and will provide a consistent monthly income for many years or longer. The most important point is just to begin.

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

First, lets have a peek at what passive income is. Passive income basically includes any money that you make without doing any work. 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 involved with the money they are making.

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

Residual 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 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 or week, which will allow you to continue to create money after the initial sale.