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

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

So now the website Patreon gives 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 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 might 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 every month, it can still be a huge source of income. Have a peek at the Patreon site to get Kinda Funny, an internet video company. They've over 6,209 patrons that means an average of only $3 a month would be a monthly income of almost $19,000 and 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 ideas Ive seen in years. Amazon FBA makes it easy 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. 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 set your tag on it. Then you just run your advertising and sell everything from the webpage on the worlds biggest internet shopping website.

Amazon FBA gives you the opportunity to compete with all the biggest names in retailstores. Always wanted to start a toy company, proceed over Hasbro. Want a line of blue jeans my response with your name stitched across the pocket, you can now begin for only a few thousand in inventory.

Ive got a couple of interviews on the site from folks who have begun shops through Amazon FBA. Some of them are making high-income incomes in less than a year therefore $5,000 a month is readily attainable in less than that.

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Making valid passive income isnt as difficult as you may think. Some of the very best passive income ideas may take a little time to install but can begin cash flowing within a few months and will provide a consistent monthly income for years or more. The most important point is simply to get started.

In part three of this series we'll discuss the differences between residual income and passive income. These two phrases are often used interchangeably, but in reality they are not the same thing. There are some similarities, but there are also some big differences between residual income and passive income income.Before I proceed onto a part of the Residual Income Series. .

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

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Residual income includes payments that you will receive after a purchase. Usually these payments are agreed upon in advance and will continue long after the sale. A fantastic instance of this is royalties that someone gets for a film 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 create money from your job.

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's 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 methods to earn residual income. It normally involves a fee that has to be renewed each month Homepage per week, which will allow you to continue to create money after the initial sale.