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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 notion.

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

So now the site Patreon provides you the opportunity to acquire patrons for your own works. You construct a community of individuals interested in your job, another use of a site that will double-duty with this passive income plan, and then request them to make contributions each time you create something. .

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Now patrons dont come off empty-handed, you provide benefits and copies of this job. So for a writer, you could offer copies of your books. You could 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 every month, it can still be a huge source of income. Have a peek at the Patreon page to get Kinda Funny, an internet video company. They've over 6,209 patrons that means an average of just $3 a month would be 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 really is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it effortless 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, pack it and even set your tag on it. Then you simply run your advertising and sell everything from the webpage on the worlds biggest internet shopping site.

Amazon FBA gives 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 look at more info across the pocket, so you can now begin for just a couple of thousand in inventory.

Ive got a couple of interviews on the blog from folks who have begun stores through Amazon FBA. A couple 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 legitimate passive income isnt as difficult as you might think. A number of the 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 longer. The most important point is just to get started.

In part three of the series we'll go over the differences between remaining income and passive income. Both of these phrases are often used interchangeably, but page in fact they are not the exact same thing. There are some similarities, but there are also some large differences between remaining income and passive income 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 you earn without doing any work. Often times this money comes in investments of time or money which you've made. With passive income that the person does not need to be involved with all the money that they are making.

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

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 individuals use to earn residual income:

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-Selling goods original site 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 per week, which will allow you to continue to make money after the initial sale.