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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 great against double-digit stock returns but its dual what you get from other fixed-income investments.
Investing in loans is nothing new. In reality, I guarantee you 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 most important buyers of loans are pensions and insurance companies.
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I average just under 10% annually on the loans about $1,000 on every $10,000 invested. Now thats a calendar year so youll need a bit invested to create that $5,000 per month but even a small portfolio will constantly be putting money 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 pick the criteria for loans in which you want to invest and the application does the rest. It will look for loans daily that meet those variables and automatically invest your money. Its important because 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 automatic investing instrument on Lending Club makes the investment completely passive. I could 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 stable and passive return.
Our next passive income idea 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 really how the arts used to operate hundreds of years ago. 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 go to these guys patrons for your own works. You construct a community of people interested in your work, another use of a blog that does double-duty for this passive income strategy, and then ask them to make contributions each time you create something. .
Now patrons dont come off empty-handed, you provide rewards and copies of this work. So for a writer, you might offer copies of your own books. You could promise to publicly thank patrons on your site or to market 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. Have a look at the Patreon page to get Kinda Funny, an internet video company. They've 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 that are always pleased to spread the word on Visit Website their brand. .
Our past passive income source is creating your own brand and selling through Amazon FBA. This is one of the very exciting income thoughts 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 used to be 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 why not try this out to send 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 simply run your advertising and market everything from the page on the worlds largest internet shopping website.
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Ive got a couple of interviews on the site from folks that have started shops through Amazon FBA. A couple of them are making six-figure incomes in less than a year so $5,000 a month is readily attainable in less than that.
Making legitimate passive income isnt as hard as you may think. Some of the best passive income thoughts might take a little time to set up but can begin money flowing within a few months and will provide a consistent monthly income for years or longer. The most important point is just to get started.