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

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

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

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Now patrons dont come away empty-handed, you offer rewards and copies of the job. So for a writer, you might 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 each month, it can still be a huge source of income. Take a peek at the Patreon page 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 nearly $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 via 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 sell 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 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 the webpage on the worlds largest 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 jeans along with your name stitched across the pocket, you can now begin for just a few thousand in inventory.

Ive got a couple of interviews on the blog from people who have begun stores through Amazon FBA. Some of them are making high-income incomes in less than a year so $5,000 per 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 might take a little time to set up but can start money flowing within a few months and will provide a consistent monthly income for many years or longer. The most important point is simply to get started.

In part three of the series we will discuss the differences between residual income and passive income. These article two phrases are often used interchangeably, but in fact they are not the exact same thing. There are a number of similarities, but there are also some large differences between remaining income and passive income.Before I move onto a 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 work. Often times this money comes in investments of time or money that you have already made. With passive income that the person does not have to be directly involved with all the money they are making.

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Residual income includes payments that you will get after a sale. Usually these payments have been agreed upon in advance and will continue long after the sale. A good instance of this is royalties that someone gets for a film 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 create 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 is 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 normally involves a fee that needs to be renewed each month per week, which will allow you to continue to create money after the this link initial sale.