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

Patreon is actually how the arts used to work 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 website Patreon provides you the opportunity to acquire patrons to your own works. You construct a community of individuals interested in your work, another use of a blog that does double-duty for this passive income strategy, and then request them to make contributions every time you create something. .

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

Even if each patron only contributes a very small amount every month, it can still be a massive source of income. Take a look 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 would be a monthly income of almost $19,000 and they get cheerleaders which are always pleased 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 thoughts Ive seen in years. Amazon FBA makes it easy 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 solutions. Together with Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses across the country.

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The manufacturer is going to put everything together, pack Residual Income In Mexico it and next even set your tag on it. Then you simply run your advertising and market everything from your webpage on the worlds biggest internet shopping website.

Amazon FBA provides you the opportunity to compete with all the biggest names in retailstores. Always wanted to start a toy company, proceed over Hasbro. Want a line of jeans along with your name stitched across the pocket, so you can now get started for just a few thousand in inventory.

Ive got a couple of interviews on the blog from people that have started shops through Amazon FBA. A couple of them are making six-figure 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 may 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 longer. The most important point is simply to get started.

In part three of this series we will go over the differences between residual income and passive income. These two phrases are often used interchangeably, but in fact they are not the same thing. There are a number of similarities, but there are also some large differences between residual income and passive income.Before I proceed onto a part of the Residual Income Series. .

First, lets have a peek at what passive income is. Passive income essentially includes any money that you make without doing any job. Often times this money comes from investments of time or money that you have made. With passive income that the person does not have to be directly involved with all the money that they are making.

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Residual income includes payments that you will get after a purchase. Usually 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 film or book. They only write the movie or book once, but it can continue to be sold and resold again and again, which allows you to continue to make money from your job.

Residual income can eventually turn into passive income with time, since you can eventually earn money without doing an excess 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 products online: This is one of the most common methods to earn residual income. It normally involves a fee which needs to be renewed each month per week, which will allow you to continue to create money after the initial sale.