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

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 website Patreon provides you the opportunity to acquire patrons for your own works. You construct a community of people interested in your job, another usage of a blog that does double-duty with this passive income plan, and then ask them to make contributions each time you create something. .

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Now patrons dont come off empty-handed, you offer benefits and copies of the work. So to get a writer, you might offer copies of your own books. You can promise to thank patrons on your site or to promote something of theirs in the future.

Even if every patron only contributes a very small amount every month, it can still be a massive 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 almost $19,000 plus they get cheerleaders that are always pleased to spread the word on their brand. .

Our last passive income source is creating your own brand and selling via 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 used to be that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling solutions. Together with Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses across 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 site.

Amazon FBA provides you the opportunity to compete with the biggest names in retailstores. 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 few interviews on the site from people who have started stores through Amazon FBA. Some of them are making high-income incomes in less than a year so $5,000 per month is easily achievable in less than that.

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Making valid passive income isnt as hard as you might think. Some of the best passive income ideas may take a little time continue reading this to set up but can start cash flowing within a couple of months and will offer a consistent monthly income for many years or longer. The check my reference most important point is simply to get started.

In part three of the series we'll discuss the differences between residual income and passive income. These two phrases 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 passive 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 earn without doing any job. Often times this money comes from investments of time or money which you've already 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 after a purchase. Normally these payments have been agreed upon in advance and will continue long after the purchase. A good 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 create money from your job.

Earning income can eventually turn into passive income with time, since 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 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 usually involves a fee which has to be renewed each month per week, which will make it possible for you to continue to create money after the initial sale.