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Another investment I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a few years now and have reserved returns only under 10%. Now that may not sound great against double-digit stock returns but its double what you get from other fixed-income investments.
Investing in loans is nothing new. In reality, I guarantee you already have money in them through any pension plan or insurance. You see banks sell their loans to investors who need reliable money flow so their biggest buyers of loans are pensions and insurance companies.
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I average just under 10% annually on the loans so about $1,000 on each $10,000 invested. Now thats a year so youll need quite a bit invested to make that $5,000 per month but even a little portfolio will constantly be putting cash in your account. You receive paid principal and interest monthly on your loans so its a great cash flow investment. .
What I enjoy about p2p investing on Lending Club is the sites automated investing tool. You decide on the criteria for loans in which you want to invest and the application does the rest. It will look for loans every day which fulfill those factors and automatically invest your money. Its important because youre collecting money on your loan investments daily so you want that money reinvested as soon as possible. .
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The automated investing tool on Lending Club gets the investment entirely passive. I could only check in on my account once per month or even more often. I know that program is going to keep investing my money for a stable and passive return.
Our next passive income idea is another twist on crowdfunding known as 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 idea.
Patreon is actually how the arts used to operate hundreds of years back. Back during the renaissance, artists utilized to ask the wealthy to be their patrons to support their work through regular contributions.
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So now the site Patreon provides you the opportunity to get patrons for your own works. You construct a community of individuals interested in your work, another use of a blog that does double-duty for this passive income strategy, and then request them to make contributions each time you produce something. .
Now patrons dont come away empty-handed, you provide rewards and copies of the work. So to get a writer, you could offer copies of your books. You could promise to publicly thank patrons on your site or to promote something of theirs in the long run.
Even if each 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 for Kinda Funny, an internet movie company. They've over 6,209 patrons which means an average of only $3 a month would be a monthly income of almost $19,000 and they get cheerleaders which are always happy to spread the word on their brand. .
Our last passive income source is creating your own brand and selling through Amazon FBA. This 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.
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It was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling solutions. Together with Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses across the country.
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 your page on the worlds largest internet shopping site.
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Ive got a couple of 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 so $5,000 a month is easily achievable in less than that.
Making legitimate passive income isnt as hard as you may think. A number of the best passive income ideas may take a little time to install but can here begin money flowing within a couple of months and will provide a consistent monthly income for many years or more. The most important point is just to begin.