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

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

So now the website Patreon provides you the opportunity to acquire patrons for your own works. You construct a community of individuals interested in your job, another use of a site that does double-duty with this passive income strategy, 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 the job. So for a writer, you could offer copies of your own books. You could promise to thank patrons on your site or to promote something of theirs in the future.

Even if each 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 movie company. They have over 6,209 patrons which means an average of only $3 a month would be a monthly income of nearly $19,000 plus they get cheerleaders which 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 most exciting income ideas Ive seen in years. Amazon FBA makes it easy to start your own retail company, to sell your own products.

It was that you needed hundreds of thousands of bucks 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, package it and even put your label on it. Then you simply run your advertising and market everything from the webpage on the worlds largest internet shopping website.

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

Ive got a our website couple of interviews on the site from people that have begun stores through Amazon FBA. A couple of them are making high-income incomes in less than a year therefore $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. Some of the best passive income thoughts may take a little time browse around here to set up but can start cash flowing within a few months and will offer a consistent monthly income for years or longer. The most important point is simply to begin.

In part three of this series we will discuss 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 remaining income and passive income income.Before I move onto a part of the Residual Income Series. .

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

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Residual income includes payments that you will receive after a sale. Normally these payments are 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 movie or book once, but it can continue to be sold and resold again and again, which allows you to continue to make money from your job.

Residual income can eventually turn into passive income with time, as you can eventually earn money without doing an excess work. .

Now that you know the differences between passive and residual income, it is 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 ways to earn residual income. It normally involves a fee which has to be renewed each month or week, which will make it possible for you to continue to create money after the initial sale.