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Our next passive income notion 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 own 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 provides you the opportunity to get patrons to your own works. You construct a community of individuals interested in your job, another usage of a site that will double-duty with this passive income strategy, and then ask them to make contributions each time you create something. .

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Now patrons dont come off empty-handed, you provide benefits and copies of the job. So to get a writer, you could offer copies of your books. You could promise to thank patrons on your site or to market something of theirs in the long run.

Even if every patron only contributes a very small amount every 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 which means an average of only $3 a month are a monthly income of almost $19,000 and they get cheerleaders that are always happy to spread the word on their brand. .

Our past passive income source is creating your own brand and selling via Amazon FBA. This is one of the most exciting income thoughts Ive seen in years. Amazon FBA makes it effortless 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 products. With Amazon FBA, you contract with a manufacturer to ship 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 tag on it. Then you just run your advertising and sell everything from your webpage on the worlds biggest internet shopping site.

Amazon FBA provides 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 blue jeans with your name stitched across the pocket, you can now begin for only a couple of thousand in inventory.

Ive got a few interviews on the blog from people that have started shops 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 legitimate passive income isnt as hard as you might think. Some of the best passive income ideas may take a little time to set up but can start money flowing within a couple of months and will offer a consistent monthly income for many years or more. The most important point is simply click over here to get started.

In part three of the series we'll go over the differences between remaining income and passive income. Both of these phrases are often used interchangeably, but in reality they are not the exact same thing. There are a number of similarities, but there are also some big differences between residual 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 work. Often times read review this money comes in investments of time or money which you've made. With passive income that the person does not have to be involved with the money that they are making.

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Residual income includes payments you will receive after a purchase. Usually these payments have been agreed upon in advance and will continue long after the purchase. A fantastic example of this is royalties that someone gets to get a movie or book. They only write the film 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 see 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 people 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 usually involves a fee which needs to be renewed each month or week, which will allow you to continue to make money after the initial sale.