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Another investment that I emphasized 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 great against double-digit stock returns but its double 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 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 each $10,000 invested. Now thats a year so youll need quite a bit invested to make that $5,000 per 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 your websites automated investing instrument. You decide on the criteria for loans in which you want to invest and the program does the rest. It will look for loans daily which fulfill those variables and automatically invest your money. Its important because youre collecting money on your loan investments every day so that you want to have that money reinvested as soon as possible. .
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The automatic investing tool on Lending Club gets the investment entirely passive. I could only check in on my account once per month or even more often. I know that program is going to keep investing my money for a stable and passive return.
Our next passive income notion is another twist on crowdfunding called Patreon. The website is promoted as a crowdfunding site for creative people like artists and writers but really its own for anyone with a side-hustle notion.
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 website Patreon provides you the opportunity to get patrons to your own works. You construct a community of individuals interested in your work, another usage of a blog that will double-duty with this passive income strategy, and then ask them to make contributions every time you produce something. .
Now patrons dont come off empty-handed, you provide benefits and copies of this job. So for a writer, you might offer copies of your books. You could promise to thank patrons their website on your blog or to promote something of theirs in the future.
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 site to get Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of just $3 a month are a monthly income of nearly $19,000 plus they get cheerleaders that 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 is one of the most 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 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 image source just run your advertising and sell everything from your webpage on the worlds biggest internet shopping website.
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Ive got a couple of interviews on the blog from folks that have begun 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 achievable in less than that.
Making legitimate passive income isnt as hard as you may think. Some of the best passive income thoughts may take a little time to set up but can start money flowing within a few months and will offer a consistent monthly income for years or more. The most important point is simply to begin.