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

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

So now the website Patreon gives you the opportunity to get patrons for your own works. You build a community of individuals interested in your work, another usage of a blog that does double-duty for this passive income strategy, and then ask them to make contributions each time you produce something. .

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Now patrons dont come away empty-handed, you offer rewards and copies of this job. So for a writer, you could offer copies of your books. You can promise to publicly thank patrons on your site or to promote something of theirs in the future.

Even if every patron only contributes a very small amount each month, it can still be a massive source of income. Have a look at the Patreon site to get Kinda Funny, an internet video company. They've over 6,209 patrons that means an average of just $3 a month are a monthly income of almost $19,000 and they get cheerleaders that 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 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 was 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 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 sell everything from the page on the worlds largest internet shopping website.

Amazon FBA gives you the opportunity to compete browse around here with all the biggest names in retail. Always wanted to start a toy company, proceed over Hasbro. Want a line of jeans with your name stitched across the pocket, you can now get started for only a couple of thousand in inventory.

Ive got a couple of interviews on the blog from people who have started stores through Amazon FBA. Some of them are making high-income incomes in less than a year so $5,000 per month is easily achievable in less than that.

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Making valid passive income isnt as hard as you may think. A number of the very best passive income thoughts might take a little time to set up but can begin cash flowing within a few months and will offer a consistent monthly income for many years or longer. The most important point is just to get started.

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

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

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Residual income includes payments Clicking Here that you will get after a sale. Usually these payments are agreed upon in advance and will continue long after the sale. A good instance of this is royalties that someone gets for 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 allows 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 extra work. .

Now that you know the differences between passive and residual income, it is 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 that needs to be renewed each month or week, which will make it possible for you to continue to make money after the initial sale.