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Our next passive income idea is another twist on crowdfunding known as Patreon. The website is encouraged as a crowdfunding site for creative people like artists and writers but really 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 utilized to ask the wealthy for 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 use of a site that will double-duty with this passive income strategy, and then request them to make contributions every time you produce 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 might offer copies of your own books. You could promise to publicly thank patrons on your blog or to promote something of theirs in the future.

Even if every patron only contributes a very small amount each month, it can still be a massive source of income. Have a look at the Patreon page for Kinda Funny, an internet movie company. They have over 6,209 patrons that means an average of just $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 really is one of the most 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 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 simply run your advertising and market everything from your page on the worlds largest internet shopping website.

Amazon FBA gives you the opportunity to compete with the biggest names in retailstores. Always wanted to start a toy company, move 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 few interviews on the site from folks who have begun shops through Amazon FBA. A about his couple of them are making six-figure incomes in less than a year so $5,000 a month is easily Residual Income In Mexico - Passive Residual Income achievable in less than that.

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Making valid passive income isnt as difficult as you might think. Some of the best passive income ideas may take a little time to install but can start money flowing within a few months and will provide a consistent monthly income for many years or longer. The most important point is just to begin.

In part three of the series we will discuss the differences between residual income and passive income. These two terms 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 move onto part of the Residual Income Series. .

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

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Residual income includes payments that you will get following a sale. Usually these payments are 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 create money from your job.

Residual income can eventually turn into passive income with time, as 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 usually involves a fee that needs to be renewed each month or week, which will make it possible for you to continue to make money after the initial sale.