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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 its own for anyone with a side-hustle notion.

Patreon is really how the arts used to work hundreds of years ago. Back during the renaissance, artists used to ask the rich 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 construct a community of people interested in your work, another usage of a site that will double-duty for this passive income strategy, and then request them to make contributions each time you create something. .

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Now patrons dont come away empty-handed, you offer benefits and copies of the work. So to get a writer, you could offer copies of your books. You could promise to thank patrons on your site or to promote something of theirs in the future.

Even if each patron only contributes a very small amount every month, it can still be a massive source of income. Take a peek at the Patreon page for Kinda Funny, an internet movie company. They've over 6,209 patrons that means an average of just $3 a month would be a monthly income of almost $19,000 plus they get cheerleaders that 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 most exciting income thoughts Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to market your own products.

It used to be that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. Together with Amazon FBA, you contract with a manufacturer to send 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 just run your advertising and sell everything from your page on the worlds largest internet shopping site.

Amazon FBA gives you the opportunity to compete with all 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 get started for only a few thousand in inventory.

Ive got a couple of interviews on the site from folks that have begun shops through Amazon FBA. A couple 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 difficult as you may think. Some of the best passive income ideas may take a little time to set up but can begin cash flowing within a couple of months and will offer a consistent monthly income for years or longer. The most important point is just to get started.

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

First, lets take a look at what passive income is. Passive income essentially includes any money you make without doing any job. Often times this money comes in investments of time or money which you've already made. With passive income that the person does not need to be involved with the money that they linked here are making.

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Residual income includes payments you will receive following a purchase. Normally these payments are agreed upon in advance and will continue long after the sale. A good 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 allows you to continue to make money from your job.

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

Now that you know the differences between passive and residual income, It's 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 ways to earn residual income. It normally involves a fee which needs review to be renewed each month or week, which will make it possible for you to continue to make money after the initial sale.