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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 for anyone with a side-hustle notion.

Patreon is really how the arts used to operate 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 site Patreon gives you the opportunity to get patrons for your own works. You construct a community of individuals interested in your work, another use of a blog that does double-duty for 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 this job. So to get a writer, you could 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 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 only $3 a month would be a monthly income of almost $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 through Amazon FBA. This is one of the very exciting income ideas Ive seen in years. Amazon FBA makes it easy to start your own retail company, to market your own products.

It was that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling products. With Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses across the country.

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The manufacturer is going to put everything together, package it and even set your label on it. Then you just run your advertising and market 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 with your name stitched across the pocket, so you can now begin for just a few thousand in inventory.

Ive got a few interviews on the blog from folks who have started stores through Amazon FBA. A couple of them are making six-figure incomes in less than a year so $5,000 per month is readily achievable 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 might take a little time to set up but can begin money flowing within a couple of months and will provide a consistent monthly income for many years or more. The most important point is simply to begin.

In part three of this series we will go over the differences between residual income and passive income. Both of these terms are often used interchangeably, but in fact they are not the same thing. There are a number of similarities, but there are also some large differences between remaining income and check out this site 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 essentially includes any money you earn without doing read this any job. Often times this money comes from investments of time or money that you have already made. With passive income the person does not need 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 sale. A fantastic example of this is royalties that someone gets for a movie or book. They only write the movie or book once, but it can continue to be sold and resold again and again, which permits you to continue to make money from your job.

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

Now that you know the differences between passive and residual income, it is time to learn about view 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 normally involves a fee which needs to be renewed each month or week, which will make it possible for you to continue to create money after the initial sale.