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Another investment I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a couple of years now and have booked returns just under 10%. Now that might not sound great against double-digit stock returns but its double everything you get from additional fixed-income investments.
Investing in loans is nothing new. In fact, 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 cash flow so their most important 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 every $10,000 invested. Now thats a calendar year so youll need quite a bit invested to make that $5,000 per month but even a small 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 like about p2p investing on Lending Club is your websites 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 meet those variables and mechanically invest your money. Its important as youre collecting money on your loan investments every day so that you want that money reinvested as soon as possible. .
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The automated investing instrument on Lending Club gets the investment completely passive. I might 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 secure and passive return.
Our next passive income idea is another twist on crowdfunding known as Patreon. The site is promoted as a crowdfunding site for creative people like artists and writers but its 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 used to ask the wealthy for their patrons to support their work through regular contributions.
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So now the website Patreon gives you the opportunity to get patrons to your own works. You construct a community of individuals interested in your work, another usage of a blog that does double-duty with this passive income strategy, and then request them to make contributions each time you create something. .
Now patrons dont come away empty-handed, you offer benefits and copies of this job. So to get 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 long run.
Even if every patron only contributes a very small amount every month, it can still be a huge source of income. Take a peek at the Patreon site to get Kinda Funny, an internet movie company. They have over 6,209 patrons that means an average of only $3 a month would be a monthly income of nearly $19,000 plus they get cheerleaders that are always pleased to spread the word on their brand. .
Our last 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 sell your own products.
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It used to be 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 send everything directly to Amazon warehouses throughout the country.
The manufacturer is going to put everything together, package it and even set your label on it. Then you simply run your advertising and market everything from the page on the worlds biggest internet shopping website.
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Ive got a couple of interviews on the blog from folks that have begun shops through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $5,000 per month is readily achievable in less than that.
Making legitimate passive income isnt as hard as you might think. Some of the best passive income ideas may take a little time to set read review up but can begin cash flowing within a few months and will offer a consistent monthly income for many years or longer. The most important point is just to get started.