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

Patreon is really how the arts used to work hundreds of years back. Back during the renaissance, artists utilized to ask the rich 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 construct a community of individuals interested in your job, another usage of a site that does double-duty with this passive income plan, and then ask them to make contributions every time you create something. .

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Now patrons dont come away empty-handed, you offer benefits and copies of the work. So to get 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 huge source of income. Take a peek at the Patreon site for Kinda Funny, an internet movie company. They've over 6,209 patrons which means an average of just $3 a month would be a monthly income of nearly $19,000 and they get cheerleaders that are always happy 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 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 send 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 label on it. Then you simply run your advertising and market everything from your page on the worlds biggest internet shopping website.

Amazon FBA gives you the opportunity to compete with the biggest names in retail. Always wanted to start a toy company, move over Hasbro. Want a line of jeans along with your name stitched across the pocket, so you can now begin for just a few thousand in inventory.

Ive got a couple of interviews on the blog from people that have started stores through look at these guys Amazon FBA. A couple of them are making high-income incomes in less than a year therefore $5,000 per month is readily attainable in less than that.

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Making legitimate passive income isnt as difficult as you might think. Some of the best passive income thoughts may take a little time to install but can begin cash flowing within a few months and will offer a consistent monthly income for years or longer. 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. Both of these terms are 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 move onto part of the Residual Income Series. .

First, lets have a peek at what passive income is. Passive income basically includes any money you earn without doing any job. Often times this money comes in investments pop over to this site of time or money which you've made. With passive income the person does not need to be involved with all the money that they are making.

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Residual income includes payments you will get after a sale. Usually these payments are agreed upon in advance and will continue long after the purchase. A good example 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 create money from your work.

Earning income can eventually turn into passive income with 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 individuals 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 usually involves a fee that has to be renewed each month or week, which will allow you to continue to make money after the initial sale.

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