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

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

So now the site Patreon provides you the opportunity to acquire patrons to your own works. You build a community of individuals interested in your job, another use of a site that does double-duty for this passive income plan, and then request them to make contributions every 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 books. You could promise to publicly thank patrons on your blog or to promote something of theirs in the future.

Even if each patron only contributes a very small amount each month, it can still be a huge source of income. Have a look at the Patreon site to get Kinda Funny, an internet video company. They have over 6,209 patrons that means an average of only $3 a month would be a monthly income of almost $19,000 plus they get cheerleaders which 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 really 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 bucks 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 throughout the country.

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The manufacturer is going to put from this source everything together, package it and even set your label on it. Then you just run your advertising and sell everything from your webpage on the worlds biggest internet shopping site.

Amazon FBA provides 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 jeans along with your name stitched across the pocket, so you can now get started for only a couple of thousand in inventory.

Ive got a couple of 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 therefore $5,000 a month is easily achievable in less than that.

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Making valid passive income isnt as difficult as you may think. A number of the best passive income thoughts might take a little time useful link to install but can start cash flowing within a few months and will offer a consistent monthly income for many years or more. The most important point is simply to get started.

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

First, lets take a peek at what passive income is. Passive income basically includes any money you make without doing any job. Often times this money comes from investments of time or money which you've already made. With passive income the person does not have to be involved with all the money that they are making.

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Residual income includes payments that you will receive after a purchase. Usually 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 film or book. They only write the movie or book once, but it can continue to be sold and resold find out this here again and again, which allows you to continue to create money from your work.

Residual income can eventually turn into passive income over time, as 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 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 or week, which will make it possible for you to continue to make money after the initial sale.