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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 notion.

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

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

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Now patrons dont come off empty-handed, you provide rewards and copies of this job. So for a writer, you might offer copies of your books. You can promise to thank patrons on your site or to market 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 look at the Patreon site to get Kinda Funny, an internet movie company. They've over 6,209 patrons which means an average of just $3 a month are a monthly income of almost $19,000 plus they get cheerleaders which are always pleased 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 very exciting income ideas Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to sell 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. With Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses throughout the country.

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

Amazon FBA provides you the opportunity to compete with the biggest names in retail. Always wanted click resources 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 just a few thousand in inventory.

Ive got a few interviews on the site from people who have begun stores through Amazon click to find out more FBA. A couple of them are making high-income incomes in less than a year therefore $5,000 a month is readily 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 ideas may take a little time to set up but can begin cash flowing within a few months and will provide a consistent monthly income for many years or more. 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 phrases are often used interchangeably, but in reality they are not the exact same thing. There are some similarities, but there are also some large differences between residual income and passive income.Before I move onto a part of the Residual Income Series. .

First, lets take a look at what passive income is. Passive income essentially includes any money you earn without doing any work. Often times this money comes from investments of time or money which you've made. With passive income that the person does not need to be involved with the money that they are making.

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Residual income includes payments you will i was reading this get following a purchase. Normally these payments have been agreed upon in advance and will continue long after the sale. A fantastic instance 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 again and again, which permits you to continue to make money from your work.

Residual income can eventually turn into passive income over time, since 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 people use to earn residual income:

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-Selling products online: This is one of the most common methods to earn residual income. It normally involves a fee that has to be renewed each month or week, which will make it possible for you to continue to create money after the initial sale.