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Our next passive income notion is another twist on crowdfunding called Patreon. The site is promoted as a crowdfunding site for creative people like artists and writers but its own 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 used to ask the wealthy to be their patrons to support their work through regular contributions.

So now the website Patreon provides you the opportunity to acquire patrons to your own works. You build a community of people interested in your job, another usage of a site that does double-duty for this passive income plan, and then request them to make contributions every time you produce something. .

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Now patrons dont come away empty-handed, you offer benefits and copies of this job. So to get a writer, you might offer copies of your books. You can promise to thank patrons on your site 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 site for Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of only $3 a month are a monthly income of nearly $19,000 and they get cheerleaders that are always happy to spread the word on their brand. .

Our past passive income source is creating your own brand and selling via Amazon FBA. This 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 was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. With Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses across the great site country.

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

Amazon FBA provides you the opportunity to compete with all the biggest names find more info in retail. Always wanted to start a toy company, proceed over Hasbro. Want a line of jeans with your name stitched across the pocket, so you can now begin for only a few thousand in inventory.

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

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

In part three of the series we will go over the differences between remaining income and passive income. Both of these terms are often used interchangeably, but in fact they are not the same thing. There are some similarities, but there are also some large differences between residual income and passive income income.Before I proceed onto a part of the Residual Income Series. .

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

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Residual income includes payments you will receive after a sale. Normally these payments are agreed upon in advance and will continue long after the sale. A good instance of this is royalties that someone gets to get a film or book. They only write the film 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 is time to learn about some of the most common methods individuals 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 usually involves a fee that has to be renewed each month or week, which will allow you to continue to create money after the initial sale.