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

Patreon is really 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 job, another usage of a blog that will 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 away empty-handed, you provide rewards and copies of the work. So for a writer, you could offer copies of your own books. You can promise to thank patrons on your site or to market something of theirs in the long run.

Even if every patron only contributes a very small amount each month, it can still be a huge source of income. Have a look at the Patreon site to get Kinda Funny, an internet movie company. They've over 6,209 patrons which means an average of just $3 a month would be a monthly income of nearly $19,000 plus 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 effortless 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 across 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 sell everything from your page on the worlds biggest internet shopping site.

Amazon FBA provides 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 blue jeans with your name stitched across the pocket, you can now begin 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. Some of them read more are making high-income incomes in less than a year so $5,000 per month is easily attainable in less than that.

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Making valid passive income isnt as difficult as you might think. A number of the best passive income ideas may take a little time to set up but can start money flowing within a couple of months and will offer a consistent monthly income for many years or more. The most important point is simply to get started.

In part three of the series we'll discuss the differences between remaining income and passive income. These two phrases are often used interchangeably, but in fact they are not the exact same thing. There are some similarities, but there are also some large differences between remaining income and passive income 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 that you earn without doing any additional info job. 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 directly involved with all the money that they are making.

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Residual income includes payments you will receive following a purchase. Normally these payments have been agreed upon in advance and will view website continue long after the sale. A good example of 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 permits you to continue to create money from your job.

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 people 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 usually involves a fee that has to be renewed each month per week, which will make it possible for you to continue to make money after the initial sale.