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

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

So now the website Patreon gives you the opportunity to get patrons to your own works. You construct a community of individuals interested in your work, another use of a blog that does double-duty with this passive income plan, and then ask them to make contributions every time you create something. .

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Now patrons dont come off empty-handed, you provide rewards and copies of the work. So for a writer, you could offer copies of your own books. You could promise to publicly thank patrons on your site or to market 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. Have a look at the Patreon site for Kinda Funny, an internet movie company. They've over 6,209 patrons that means an average of only $3 a month would be a monthly income of almost $19,000 plus they get cheerleaders which are always happy 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 market 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 straight to Amazon warehouses throughout the country.

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The manufacturer is going to put everything together, pack his explanation it and even put your tag on it. Then you simply run your advertising and market everything from your page on the worlds largest internet shopping site.

Amazon FBA gives 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 couple of interviews on the blog from folks who have begun shops through Amazon FBA. Some of them are making high-income incomes in less than a year therefore $5,000 per month is readily 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 ideas might take a little time to install but can begin cash 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 will discuss the differences between remaining income and passive income. Both of these phrases are often used interchangeably, but in fact they are not the exact same thing. There are some similarities, but there are also some big differences between residual income and passive income.Before I proceed 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 in investments of time or money which you've already made. With passive income 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 you will receive after a purchase. Normally these payments have been agreed upon in advance and will continue long after the sale. A good example of this is royalties that someone gets for a movie 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 Go Here 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 extra 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 methods to earn residual income. It normally involves a fee which has to be renewed each month or week, which will allow you to continue to create money after the initial sale.

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