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

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

So now the site Patreon provides you the opportunity to get patrons for your own works. You build a community of people interested in your work, another usage of a blog that will double-duty with this passive income plan, and then request them to make contributions each time you produce something. .

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Now patrons dont come off empty-handed, you provide rewards and copies of the work. So for a writer, you could offer copies of your books. You could promise to 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 massive source of income. Have a peek at the Patreon site to get Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of only $3 a month are 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 effortless 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. With Amazon FBA, you contract with a manufacturer to send everything directly 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 simply run your advertising and market everything from your page on the worlds biggest internet shopping website.

Amazon FBA provides you the opportunity to compete with all the biggest names in retail. Always wanted to start a toy company, move over Hasbro. Want a line of blue jeans with your name stitched across the pocket, you can now get started for just a few thousand in inventory.

Ive got a couple of interviews on Learn More Here the site from folks that have begun shops through Amazon FBA. A couple of them are making high-income incomes in less than a year so check out here $5,000 per month is readily attainable in less than that.

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Making legitimate passive income isnt as difficult as you may think. A number of the best passive income ideas may take a little time to set up but can start cash flowing within a couple of months and will offer a consistent monthly income for years or more. The most important point is just to begin.

In part three of this 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 exact same thing. There are some similarities, but there are also some large differences between residual income and passive income income.Before I proceed onto part of the Residual Income Series. .

First, lets have a look at what passive income is. Passive income basically includes any money you make without doing any job. Often times this money comes in investments of time or money that you have already made. With passive income the person does not have to be involved with all the money that 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 purchase. 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 make money from your job.

Earning income can eventually turn into passive income over time, as you can eventually earn money without doing an extra work. .

Now that you know the differences between passive and residual income, It's time to learn about some of the most common methods individuals 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 which needs to be renewed each month per week, which will make it possible for you site to continue to create money after the initial sale.