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Our next passive income notion is another twist on crowdfunding known as Patreon. The site 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 actually how the arts used to operate hundreds of years back. Back during the renaissance, artists used to ask the rich to be 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 build a community of people interested in your work, another use of a site that does double-duty with this passive income plan, and then request 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 this job. So for a writer, you might offer copies of your books. You can promise to publicly thank patrons on your blog or to market something of theirs in the future.

Even if every patron only contributes a very small amount every month, it can still be a huge source of income. Take a look at the Patreon site to get Kinda Funny, an internet video company. They've over 6,209 patrons which means an average of only $3 a month would be 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 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 used to be that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. 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 it and even set your tag on it. Then you just run your advertising and market everything from the page on the worlds biggest internet shopping website.

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

Ive got a few interviews on the blog from people who have begun stores 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 hard as you may think. Some of the best passive income ideas might take a little time to install but can begin money flowing within a couple of months and will offer a consistent monthly income for many years or longer. The most important point is just to get started. you could try these out

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

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

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Residual income includes payments you will get 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 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 continue to create money from your job.

Residual 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 methods to earn residual income. It normally involves a fee which needs to be renewed each month or week, which will make it possible for you to continue to create money after the initial sale.