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Another investment that I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a few decades now and have reserved returns just under 10%. Now that might 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 have money in them through any pension plan or insurance. You see banks sell their loans to investors that need reliable money 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 year so youll need a bit invested to make that $5,000 a month but even a small portfolio will constantly be putting cash in your account. You get 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 the sites automated investing tool. You decide on the standards for loans in which you want to invest and the program does the rest. It will search for loans daily that fulfill those variables and mechanically invest your money. Its important as youre collecting money on your loan investments every day so you want to have that money reinvested as soon as possible. .
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The automated investing tool on Lending Club makes the investment entirely passive. I might only check in on my account once per month or even less often. I know that app is going to keep investing my money for a secure and passive return.
Our next passive income notion is another twist on crowdfunding known as Patreon. The site is promoted as a crowdfunding website 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 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 to your own works. You build a community of individuals interested in your job, another use of a blog that will double-duty with this passive income plan, and then ask them to make contributions each time you produce something. .
Now patrons dont come away empty-handed, you offer rewards and copies of this work. So to get a writer, you could offer copies of your own books. You can promise to thank patrons on your blog or to promote something Full Report of theirs in the future.
Even if each patron only contributes a very small amount each month, it can still be a massive source of income. Take a peek at the Patreon page for Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of only $3 a month are a monthly income of nearly $19,000 and 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 is one of the most exciting income ideas Ive seen in years. Amazon FBA makes it easy to start your own retail company, to sell your own products.
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It was that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling solutions. Together with Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses across the country.
The manufacturer is going to put everything together, package it and even put your label on it. Then you just run your advertising and sell everything from your webpage on the worlds largest internet shopping website.
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Ive got website link a couple of interviews on the site from people who have started stores through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $5,000 per month is easily attainable in less than that.
Making legitimate passive income isnt as difficult as you may think. A number of the best passive income ideas may take a little time to install but can begin cash flowing within a couple of months and will offer a consistent monthly income for many years or longer. The most important point is just to get started.