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

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

So now the website Patreon gives you the opportunity to get patrons to your own works. You construct a community of people interested in your work, another usage of a site that will 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 this work. So to get a writer, you could offer copies of your books. You could promise to thank patrons on your blog or to market something of theirs in the future.

Even if each patron only contributes a very small amount every month, it can still be a massive source of income. Take a look at the Patreon page to get 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 last passive income source is creating your own brand and selling via Amazon FBA. This is one of the most exciting income ideas Ive seen in years. Amazon FBA makes it easy to start your own retail company, to market your own products.

It used to be that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling products. Together with Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses throughout 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 your page on the worlds largest internet shopping site.

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 blue jeans with your name stitched across the pocket, you can now begin for only a few thousand in inventory.

Ive got a few interviews on the blog right here from people that have started shops through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 a month is easily achievable in less than that.

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Making valid passive income isnt as hard as you might think. A number of the best passive income thoughts might take a little time to install but can start money flowing within a couple of months and will offer a consistent monthly income for years or longer. The most important point is simply to get started.

In part three of this series we'll go over the differences between residual income and passive income. These two terms are often used interchangeably, but in fact they are not the same thing. There are some similarities, but there are also some large differences between remaining income and passive income.Before I proceed onto part of the Residual Income Series. .

First, lets take a peek at what passive see here now 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 made. With passive income that the person visit homepage does not have to be involved with the money they are making.

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Residual income includes payments you will receive following a sale. 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 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 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 goods online: This is one of the most common ways to earn residual income. It normally involves a fee that has to be renewed each month or week, which will allow you to continue to make money after the initial sale.