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Our next passive income notion is another twist on crowdfunding called Patreon. The website 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 actually how the arts used to work hundreds of years ago. Back during the renaissance, artists used to ask the rich for 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 build a community of people interested in your work, another use of a site that does double-duty with this passive income plan, and then request them to make contributions every time you create something. .

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Now patrons dont come away empty-handed, you offer rewards and copies of the work. So for a writer, you might 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 every patron only contributes a very small amount every month, it can still be a massive source of income. Have a look at the Patreon page for Kinda Funny, an internet movie company. They have over 6,209 patrons which 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 via 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 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 products. Together with Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses throughout the country.

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The manufacturer is going to put everything together, pack it and even put your label on it. Then you simply run your advertising and sell everything from your page on the worlds biggest internet shopping site.

Amazon FBA gives you the opportunity to compete with all the biggest names in retail. Always wanted to start a toy company, proceed 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 folks who have started shops 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 difficult as you might think. A number of the very best passive income thoughts may take a little time to install but can begin money flowing within a couple of months and will offer a consistent additional resources monthly income for many years or longer. The most important point is just to get started.

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 reality they are not the exact same thing. There are a number of similarities, but there are also some big differences between remaining income and passive income income.Before I proceed onto part of the Residual Income Series. .

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

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Residual income includes payments that you will receive following a purchase. Usually these payments are agreed upon in advance and will continue long after the check these guys out purchase. A good 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 This Site and again, which permits you to continue to make money from your work.

Residual income can eventually turn into passive income with time, since 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 make it possible for you to continue to make money after the initial sale.