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

Patreon is actually 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 provides you the opportunity to get patrons to your own works. You build a community of people 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 every time you create something. .

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Now patrons dont come away empty-handed, you offer benefits and copies of this job. So for a writer, you could offer copies of your own books. You can promise to thank patrons on your blog 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. Take a look at the Patreon site for Kinda Funny, an internet movie company. They have over 6,209 patrons that means an average of only $3 a month would be a monthly income of almost $19,000 and they get cheerleaders that are always pleased to spread the word on their brand. .

Our past passive income source is creating your own brand and selling through Amazon FBA. This is one of the very exciting income ideas Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to sell your own products.

It used to be that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling solutions. Together with Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses across 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 just run your advertising and market everything from your webpage on the worlds largest internet shopping site.

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

Ive got a few 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 a month is readily attainable in less than that.

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Making valid passive income isnt as difficult as you may think. Some of anonymous the best passive income thoughts might take a little time to set up but can begin money 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'll discuss the differences between remaining income and passive income. These two phrases 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 residual income and passive income income.Before I move onto part of the Residual Income Series. .

First, lets take a look at what passive income is. Passive income essentially includes any money you earn without doing any job. Often times this money comes look at this now in investments of time or money that you have 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 that you will receive after a purchase. Usually these payments are agreed upon in advance and will continue long after the sale. A good example of this is royalties that someone gets for a film or book. They go right here 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 create money from your job.

Residual 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 is 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 needs to be renewed each month or week, which will make it possible for you to continue to make money after the initial sale.