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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 idea.

Patreon is actually how the arts used to operate hundreds of years ago. 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 to your own works. You construct a community of people interested in your work, another usage of a blog that will double-duty for this passive income plan, and then request them to make contributions each time you produce something. .

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Now patrons dont come off empty-handed, you provide rewards and copies of the job. So for a writer, you could offer copies of your books. You can 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 huge source of income. Have a peek at the Patreon site for Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of only $3 a month are a monthly income of nearly $19,000 plus 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 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 sell your own products.

It used to be that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling solutions. 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 label on it. Then you simply see here now run your advertising and market everything from the page on the worlds largest internet shopping site.

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

Ive got a few interviews on the blog from people that have begun stores through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 per month is readily achievable in less than that.

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Making legitimate passive income isnt as difficult as you might think. Some of the best passive income ideas may take a little time to install but can start cash flowing within a couple of months and will provide a consistent monthly income for years or longer. The most important point is simply to begin.

In part three of the series we'll discuss the differences between residual income and passive income. Both of these phrases are often used interchangeably, but in reality they are not the exact same thing. There are some similarities, but there are also some big differences between remaining income and passive income.Before I move onto part of the Residual Income Series. .

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

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Residual income includes payments you will get after a sale. Usually 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 to get 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 make money from your job.

Residual income can eventually turn into passive income with time, as 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 people 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 that has to be renewed each month per week, which will make it possible for you to continue to create money after the initial sale.