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Our next passive income notion is another twist on crowdfunding known as 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 idea.

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

So now the site Patreon gives you the opportunity to acquire patrons to your own works. You build a community of people interested in your job, another use of a blog that does double-duty for this passive income plan, and then ask 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 job. So for a writer, you could offer copies of your own books. You can promise to thank patrons on your blog or to promote something of theirs in the long run.

Even if each patron only contributes a very small amount each month, it can still be a huge source of income. Have a peek at the Patreon page to get Kinda Funny, an internet video company. They've over 6,209 patrons that means an average of only $3 a month are a monthly income of almost $19,000 plus 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 through Amazon FBA. This is one of the most 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 bucks for manufacturing, marketing, logistics, everything that went into selling solutions. Together 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 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 the biggest names in retail. Always wanted to start a toy company, move over Hasbro. Want a line of blue jeans along with your name stitched across the pocket, you can now begin news for just a couple of thousand in inventory.

Ive got a couple of interviews on the blog from folks who have begun shops through Amazon FBA. A couple of them are making six-figure 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. A number of the very best passive income ideas may take a little time to install but can begin money flowing within a couple of months and will offer a consistent monthly income for many years or longer. The most important have a peek at this site point is just to begin.

In part three of the series we'll discuss the differences between remaining income and passive income. These two 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 basically includes any money that you make without doing any work. Often times this money comes from investments of time or money which you've made. With passive income that the person does not have to be involved with all the money 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 sale. A good example of this is royalties that someone gets for 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 permits you to continue to create money from your work.

Residual income can eventually turn into passive income over time, since 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 people use to earn residual income:

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-Selling products online: This is one of the most common methods to earn residual income. It usually involves a fee which needs to be renewed each month or week, which will make it possible for you to continue to make money after the initial sale.