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Another investment I emphasized recently was p2p lending through Lending Club. Ive been investing in p2p for a few years now and have booked returns just under 10%. Now that might not sound fantastic against double-digit stock returns but its dual 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 cash 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 quite a bit invested to make that $5,000 per month but even a little portfolio will constantly be putting money in your account. You get 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 websites automated investing instrument. 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 variables and automatically invest your money. Its important as youre collecting money on your loan investments every day so you want 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 secure and passive return.
Our next passive income idea is another twist on crowdfunding called Patreon. The website is encouraged as a crowdfunding site 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 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 gives you the opportunity to get patrons to your own works. You construct a community of individuals interested in your job, another usage of a site that does double-duty with this passive income strategy, and then request them to make contributions every time you produce something. .
Now patrons dont come off empty-handed, you offer rewards and copies of this job. So for a writer, you could offer copies of your books. You can promise to publicly thank patrons on your blog 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 massive source of income. Take a look at the Patreon page to get Kinda Funny, an internet movie company. They've over 6,209 patrons which means an average of only $3 a month are a monthly income of nearly $19,000 plus they get cheerleaders which are always happy to spread the word on their brand. .
Our past passive income source is creating your own brand and selling via Amazon FBA. This really is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it easy to start your own retail company, to market 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 products. Together with Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses throughout the country.
The manufacturer is going to put everything together, pack it and even put your label on it. Then you just run your advertising and market everything from the webpage on the worlds largest internet shopping site.
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Ive got a few interviews on the blog from people that have started shops through Amazon FBA. Some of them are making high-income incomes in less than a year therefore $5,000 a month is easily achievable in less than that.
Making legitimate passive income isnt as difficult as you might think. A number of the very best passive income ideas might take a little time to set up but can start cash flowing within a couple of months and will offer a consistent monthly income for many years or longer. The most important point is simply to begin.