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

Patreon is actually how the arts used to work hundreds of years back. Back during the renaissance, artists utilized to ask the wealthy for 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 build a community of individuals interested in your job, another use of a blog that will double-duty for this passive income strategy, and then request them to make contributions each time you produce something. .

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Now patrons dont come off empty-handed, you offer rewards and copies of this job. So for a writer, you could offer copies of your books. You can promise to publicly thank patrons on your site 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 massive source of income. Take a look at the Patreon site to get Kinda Funny, an internet video company. They've 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 which are always pleased 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 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 solutions. 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 put your tag on it. Then you simply 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 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 get started for just a few thousand in inventory.

Ive got a couple of interviews on the blog from people that have begun shops through Amazon FBA. A couple of them are making six-figure incomes in less than a year therefore $5,000 a month is easily achievable in less visit here than that.

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Making valid passive income isnt as hard as you may think. A number of the best passive income ideas might take a little time to install but can begin money flowing within a few months and will provide a consistent monthly income for years or more. The most important point is simply to begin.

In part three of the series we will discuss the differences between remaining income and passive income. Both of these phrases are often used interchangeably, but in fact they find this are not the exact same thing. There are a number of similarities, but there are also some big differences between remaining income and passive income income.Before I proceed onto part of the Residual Income Series. .

First, lets take a peek at what passive income is. Passive income essentially includes any money that 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 that the person does not need to be directly involved with the money that they are making.

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Residual income includes payments you will get after a sale. Normally these payments are agreed upon in advance and will continue long after the purchase. A fantastic instance of this is royalties that someone gets to get a movie 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 make money from your job.

Residual 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 individuals 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 normally involves a fee that needs to be renewed each month or week, which will make it possible for you to continue to create money after the initial sale.