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

Patreon is actually how the arts used to work hundreds of years ago. Back during the renaissance, artists utilized to ask the wealthy for 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 individuals interested in your job, another use of a blog that will double-duty for this passive income strategy, and then ask them to make contributions each time you create something. .

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Now patrons dont come away empty-handed, you provide benefits and copies of the job. So to get a writer, you might offer copies of your books. You could 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 each month, it can still be a huge source of income. Take a peek at the Patreon page for Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of just $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 past passive income source is creating your own brand and selling through 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 market your own products.

It was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to send 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 simply run your advertising and sell everything from the page on the worlds biggest internet shopping website.

Amazon FBA provides you the opportunity to compete with all the biggest names in retail. Always wanted to start a go to my site toy company, proceed over Hasbro. Want a line of blue jeans along with your name stitched across the pocket, you can now get started for only a few thousand in inventory.

Ive got a few interviews on the site from people who have begun stores through Amazon FBA. A couple of them are making high-income incomes in less than a year so $5,000 a month is easily attainable 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 ideas might take a little time to install but can begin cash flowing within a couple of months and will offer a consistent monthly income for many years or more. The most important point is just to begin.

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

First, lets have a look at what passive income is. Passive income basically includes any money that you make without doing any job. Often times this money comes from investments of time or money that you have already made. With passive income 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 get following a purchase. Normally these payments have been agreed upon in advance and will continue long after the purchase. A fantastic instance of this is royalties that someone gets to get a film 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, 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 individuals 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 that needs to be renewed each month per week, which will allow you to continue to make money after the initial sale.