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Our next passive income idea is another twist on crowdfunding called Patreon. The site is promoted as a crowdfunding site for creative people like artists and writers but really its own 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 wealthy to be their patrons to support their work through regular contributions.

So now the site Patreon gives you the opportunity to acquire patrons for your own works. You construct a community of people interested in your work, another usage of a site that does double-duty for this passive income plan, and then request them to make contributions every time you create something. .

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Now patrons dont come off empty-handed, you provide benefits and copies of this job. So to get a writer, you could 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 each patron only contributes a very small amount every month, it can still be a massive source of income. Have a look at the Patreon page for Kinda Funny, an internet video company. They have over 6,209 patrons that means an average of just $3 a month would be 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 through Amazon FBA. This is one of the most exciting income ideas Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to market your own products.

It was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. 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 put 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 gives you the opportunity to compete with 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, you can now begin for only a few thousand in inventory.

Ive got a couple of interviews on the site from folks who have started shops through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 per month is readily attainable 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 might take a little time to set up but can start cash flowing within a couple of months and will provide a consistent monthly income for years or more. The most important point is simply to get started.

In part three of this 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 exact same thing. There are a go to website number of similarities, but there are also some big differences between remaining income and passive income income.Before I proceed onto a part of the Residual Income Series. .

First, lets take a peek at what passive income is. Passive income essentially includes any money you earn without doing any job. Often times this money comes in investments of time or money that you have made. With passive income the person does not have to be directly involved with the money they are making.

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Residual income includes payments you will get following a sale. Normally 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 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 make money from your work.

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 methods 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 make money after the initial sale.