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Another investment that I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a few years now and have booked returns only under 10%. Now that may not sound fantastic against double-digit stock returns but its dual everything you get from additional fixed-income investments.
Investing in loans is nothing new. In reality, I guarantee you have money in them through any pension plan or insurance. You see banks sell their loans to investors that 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 create that $5,000 per month but even a little 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 enjoy about p2p investing on Lending Club is the websites automated investing instrument. You pick the criteria for loans in which you want to invest and the program 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 you want to have that money reinvested as soon as possible. .
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The automatic investing instrument on Lending Club gets the investment completely passive. I could only check in on my account once a 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 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 utilized to ask the rich for their patrons to support their work through regular contributions.
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So now the site Patreon gives you the opportunity to acquire patrons for your own works. You construct a community of individuals interested in your work, another usage of a blog that will double-duty for this passive income strategy, and then request them to make contributions every time you produce something. .
Now patrons dont come off empty-handed, you provide rewards and copies of this job. So for a writer, you could offer copies of your books. You could promise to thank patrons on your site or to market 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. Have a peek at the Patreon page to get Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of only $3 a month are a monthly income of almost $19,000 and 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 through Amazon FBA. This is one of the most exciting income thoughts 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 throughout the country.
The manufacturer is going to put everything together, pack it and even set your tag on it. Then you simply run your advertising and market everything from your page on the worlds largest internet shopping site.
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Ive got a few interviews on the site from folks that have started stores through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $5,000 a month is easily attainable in less than that.
Making legitimate passive income isnt as hard as you might think. A number of the very best passive income thoughts might take a little time to set up but can begin money flowing within a few months and will offer a consistent monthly income for many years or more. The most important point is just to get started.