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Our next passive income notion 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 actually how the arts used to work 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 provides you the opportunity to acquire patrons to your own works. You build a community of people interested in your work, another usage of a blog that does double-duty with this passive income plan, and then request them to make contributions each time you create something. .

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Now patrons dont come away empty-handed, you provide rewards and copies of this job. So for a writer, you might offer copies of your own books. You can promise to thank patrons on your site 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 huge source of income. Have a look at the Patreon site to get Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of only $3 a month are a monthly income of almost $19,000 and they get cheerleaders which 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 really is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it effortless 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 solutions. 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 everything together, pack it and even put your tag on it. Then you just run your advertising and sell everything from your webpage on the worlds biggest internet shopping website.

Amazon FBA provides you the opportunity to compete with the biggest names in retailstores. Always wanted to start a toy company, move over Hasbro. look at here Want a line of blue jeans along with your name stitched across the pocket, you can now get started for only a couple of thousand in inventory.

Ive got a few interviews on the blog from folks that have started shops through Amazon FBA. A couple of them are making high-income 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 difficult as you may think. Some of the very best passive income ideas may take a little time to set up but can start money flowing within a couple of months and will provide a consistent monthly income for years or more. The most important point is just to get started.

In part three of this series we will go over the differences between residual income and passive income. Both of these phrases 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 residual income and passive income income.Before I proceed onto a part of the Residual Income Series. .

First, lets have 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 from investments of time or money which you've already made. With passive income that the person does not need 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 purchase. Usually these payments are agreed upon in advance and will continue long after the purchase. A good 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.

Earning income can eventually turn into passive income over 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 people 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 which needs to be renewed each month or week, which will allow you to continue to create money after the initial sale.