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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 its own for anyone with a side-hustle idea.

Patreon is really how the arts used to operate hundreds of years ago. Back during the renaissance, artists used to ask the wealthy to be their patrons to support their work through regular contributions.

So now the site Patreon gives you the opportunity to acquire patrons for your own works. You construct a community of individuals interested in your job, another usage of a site that does double-duty with this passive income strategy, and then ask them to make contributions each time you produce something. .

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Now patrons dont come away empty-handed, you offer benefits and copies of this work. So for a writer, you might offer copies of your books. You can 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 every month, it can still be a massive source of income. Take a look at the Patreon page to get Kinda Funny, an internet video company. They have over 6,209 patrons that means an average of only $3 a month are a monthly income of nearly $19,000 plus they get cheerleaders which are always pleased to spread the word on their brand. .

Our last passive income source is creating your own brand and selling via Amazon FBA. This really is one of the very exciting income ideas 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 solutions. With Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses throughout the country.

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The manufacturer is going to put everything together, package it and even put your tag on it. Then you just run your advertising and sell everything from the webpage on the worlds biggest company website internet shopping website.

Amazon FBA provides you the opportunity to compete with the biggest names in retailstores. Always wanted to start a toy company, proceed 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 few thousand in inventory.

Ive got a few interviews on the blog from people who have started shops through Amazon FBA. Some of them are making high-income incomes in less than a year so $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 start cash flowing within a couple of months and will provide a consistent monthly income for years or more. The most important point is just to get started.

In part three of the series we visit our website will discuss the differences between remaining income and passive income. Both of these terms 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 large differences between residual income and passive income income.Before I proceed onto a part of the Residual Income Series. .

First, lets have a peek at what passive income is. Passive income basically includes any money that you earn 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 have to be directly involved with all the money that they are he has a good point making.

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Residual income includes payments you will receive after a sale. Normally 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 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 make 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 products online: This is one of the most common ways to earn residual income. It usually involves a fee that has to be renewed each month or week, which will make it possible for you to continue to make money after the initial sale.