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Our next passive income notion is another twist on crowdfunding known as Patreon. The website is promoted as a crowdfunding website 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 work hundreds of years back. 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 job, another use of a site that does double-duty for this passive income strategy, and then ask them to make contributions every time you produce something. .

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Now patrons dont come away empty-handed, you provide benefits 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 blog or to promote something of theirs in the future.

Even if each patron only contributes a very small amount each month, it can still be a massive source of income. Have a peek at the Patreon site to get Kinda Funny, an internet video company. They have 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 through Amazon FBA. This really is one of the most exciting income thoughts Ive seen in years. Amazon FBA makes it easy to start your own retail company, to market your own products.

It used to be 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 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 simply run your advertising and sell everything from your webpage on the worlds biggest internet shopping website.

Amazon FBA gives you the opportunity to compete with the biggest names in retailstores. 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 just a few thousand in inventory.

Ive got a few interviews on the blog from folks that have started shops through Amazon FBA. Some of them are making high-income incomes in less than a year so why not try these out $5,000 a month is easily attainable in less than that.

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Making valid passive income isnt as hard as you may think. A number of the very best passive income ideas may take a little time to set up but can start money flowing within a couple of months and will provide a consistent monthly income for years or more. 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 fact they are not the exact same thing. There are a number of similarities, but there are also some big 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 make without doing any work. Often times this money comes from investments of time or money that you have made. With passive income the person does not need to be directly 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 purchase. A fantastic instance of helpful hints this is royalties that someone gets to get a film or book. They only write the film 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 work.

Earning income can eventually turn into passive income over time, as 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 ways to earn residual income. click It normally involves a fee which has to be renewed each month per week, which will make it possible for you to continue to create money after the initial sale.