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Our next passive income idea is another twist on crowdfunding known as 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 actually how the arts used to work hundreds of years back. Back during the renaissance, artists utilized to ask the wealthy for their patrons to support their work through regular contributions.

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

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Now patrons dont come away empty-handed, you offer rewards and copies of the work. So for a writer, you might offer copies of your books. You can promise to thank patrons on your blog or to promote something of theirs in the long run.

Even if each patron only contributes a very small amount each month, it can still be a massive source of income. Take a peek at the Patreon site 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 almost $19,000 and they get cheerleaders which are always pleased to spread the word on their brand. .

Our last passive income source is creating your own brand and selling through 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 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 directly to Amazon warehouses across 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 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, move over Hasbro. Want a line of jeans with your name stitched across the pocket, you can now begin for just a few thousand in inventory.

Ive got a couple of interviews on the blog from people who have started stores through Amazon FBA. A couple of them are making high-income incomes in less than a year so $5,000 a month is easily attainable in less than that.

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Making valid passive site link income isnt as hard as you may think. A number of the very best passive income ideas might take a little time to install but can start money flowing within a few months and will offer a consistent monthly income for many years or more. The most important point is simply to begin.

In part three of the series we'll discuss the differences between remaining income and passive income. Both of these phrases are often used interchangeably, but in reality they are not the same thing. There are a number of 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 take a peek at what passive income is. Passive income basically includes any money that you earn without doing any work. Often times this money comes investigate this site from investments of time or money which you've already made. With passive income that the person does not have to be involved with all the money that they are making.

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Residual income includes payments that you will receive following a sale. Normally these payments have been agreed upon in advance and will continue long after the sale. A fantastic instance of this is royalties that someone gets for 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 make money from your job.

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

Now that you know go 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 per week, which will allow you to continue to make money after the initial sale.