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Another investment that I emphasized recently was p2p lending through Lending Club. Ive been investing in p2p for a couple of decades now and have reserved returns just under 10%. Now that may not sound fantastic against double-digit stock returns but its double what you get from other fixed-income investments.
Investing in loans is nothing new. In fact, I guarantee you already have money in them via 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 every $10,000 invested. Now thats a year so youll need 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 fantastic cash flow investment. .
What I enjoy about p2p investing on Lending Club is your sites automated investing instrument. You pick the criteria for loans in which you want to invest and the application does the rest. It will look for loans every day that meet those variables and mechanically invest your money. Its important as youre collecting money on your loan investments daily so you want to have that money reinvested as soon as possible. .
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The automated investing instrument on Lending Club makes the investment completely passive. I might only check in on my account once per month or even less 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 really its for anyone with a side-hustle idea.
Patreon is actually how the arts used to work hundreds of years back. Back during the renaissance, artists used to ask the rich for their patrons to support their work through regular contributions.
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So now the website Patreon provides you the opportunity to get patrons for your own works. You build a community of individuals interested in your job, another use of a blog that will double-duty for this passive income strategy, and then request them to make contributions each time you produce something. .
Now patrons dont come off empty-handed, you offer rewards and copies of this work. So to get a writer, you could offer copies of your books. You can promise to publicly thank patrons on your site or to promote something of theirs in the future.
Even if each patron only contributes a very small amount each month, it can still be a huge source of income. Take a look at the Patreon page to get Kinda Funny, an internet movie company. They've over 6,209 patrons that means an average of only $3 a month are a monthly income of almost $19,000 plus 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 via Amazon FBA. This is one of the very 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 was 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 ship everything straight to Amazon warehouses across the country.
The manufacturer is going to put everything together, package it and even set your tag on it. Then you just run your advertising and sell everything from the webpage on the worlds largest internet shopping site.
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Ive use this link got a few interviews on the site from people who have begun stores through Amazon FBA. A couple of them are making six-figure incomes in less than a year therefore $5,000 per month is readily attainable in less than that.
Making legitimate passive income isnt as difficult as you might think. Some of the very best passive income thoughts 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 many years or longer. The most important point is just to get started.