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

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

So now the website Patreon gives you the opportunity to get patrons to your own works. You construct a community of individuals interested in your work, another use of a site that does double-duty for this passive income strategy, and then request them to make contributions every time you create something. .

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Now patrons dont come away empty-handed, you provide rewards and copies of the work. So to get a writer, you might offer copies of your own books. You could promise to publicly 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 huge source of income. Take a look at the Patreon page to get Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of just $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 through Amazon FBA. This really is one of the most exciting income thoughts Ive seen in years. Amazon FBA makes it easy to start your own retail company, to market your own products.

It was 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 ship 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 sell everything from the page on the worlds biggest internet shopping website.

Amazon FBA provides 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 with your name stitched across the pocket, you can now get started for only a few thousand in inventory.

Ive got a few interviews on the site from people that have begun shops through Amazon FBA. A couple of them are making high-income incomes try here in less check my source than a year so $5,000 per month is easily 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 begin cash flowing within a couple of months and will provide a consistent monthly income for years or longer. The most important point is just to begin. you can try this out

In part three of this series we will discuss the differences between remaining income and passive income. Both of these 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 residual income and passive income income.Before I move onto part of the Residual Income Series. .

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

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Residual income includes payments you will receive following a purchase. Usually these payments are agreed upon in advance and will continue long after the purchase. A fantastic instance 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 permits you to continue to make money from your job.

Earning income can eventually turn into passive income with 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 has to be renewed each month per week, which will allow you to continue to create money after the initial sale.

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