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Another investment I emphasized recently was p2p lending through Lending Club. Ive been investing in p2p for a couple of years now and have booked returns only 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 have money in them via any pension plan or insurance. You see banks sell their loans to investors that need reliable cash 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 year so youll need quite a bit invested to make that $5,000 a month but even a small portfolio will constantly be putting cash in your account. You receive 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 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 every day which fulfill those variables and automatically invest your money. Its important because 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 tool on Lending Club gets the investment entirely passive. I could only check in on my account once a month or even less often. I know that app 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 site for creative people like artists and writers but its for anyone with a side-hustle notion.
Patreon is really 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 website Patreon gives you the opportunity to get patrons for your own works. You construct a community of individuals interested in your job, another usage of a site that does double-duty for this passive income strategy, and then request them to make contributions every time you create something. .
Now patrons dont come off empty-handed, you provide benefits and copies of this work. So to get a writer, you could offer copies of your own books. You could promise to thank patrons on your blog or to market something of theirs in the long run.
Even if each patron only contributes a very small amount every month, it can still be a huge source of income. Have a peek at the Patreon site to get Kinda Funny, an internet movie company. They've over 6,209 patrons that means an average of only $3 a month would website here be 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 through Amazon FBA. This really is one of the most 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 solutions. Together 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, pack it and even put your tag on it. Then you just run your advertising and market everything from the webpage on the worlds largest internet shopping website.
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Ive got a couple of interviews on the site from people that have started stores through Amazon FBA. A couple of them are making six-figure incomes in less than a year so $5,000 a month is easily attainable in less than that.
Making legitimate passive income isnt as hard as you may think. A number of the best passive income thoughts might take a little time to install but can begin money flowing within a few months and will provide a consistent monthly income for years or more. The most important point is just to begin.