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Our next passive income idea is another twist on crowdfunding called Patreon. The site is encouraged 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 operate hundreds of years back. Back during the renaissance, artists utilized to ask the rich to be their patrons to support their work through regular contributions.

So now the site Patreon provides you the opportunity to acquire patrons for your own works. You build a community of people interested in your work, another usage of a site that does double-duty for this passive income strategy, and then request them to make contributions every time you create something. .

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Now patrons dont come away empty-handed, you provide rewards 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 blog or to market something of theirs in the long run.

Even if every patron only contributes a very small amount each month, it can still be a huge source of income. Have a peek at the Patreon page to get Kinda Funny, an internet video company. They have over 6,209 patrons that means an average of only $3 a month are a monthly income of nearly $19,000 and 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 very exciting income ideas Ive seen in years. Amazon FBA makes it effortless 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 products. With Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses across 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 simply run your advertising and market everything from your page on the worlds largest internet shopping website.

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

Ive got a couple of interviews on the blog from folks who have started shops through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 a month is readily attainable in less than that.

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Making legitimate passive income isnt as hard as you might think. Some of the best passive income thoughts might take a little useful reference time to install 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 just to get started.

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

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

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Residual income includes payments you will get after a purchase. Normally 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 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 create money from your work.

Earning income can eventually turn into passive income with 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 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 allow you to continue to create money after the initial sale.