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Another investment I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a few decades now and have booked returns only under 10%. Now that may not sound fantastic against double-digit stock returns but its double everything you get from additional fixed-income investments.
Investing in loans is nothing new. In reality, I guarantee you already have money in them through any pension plan or insurance. You see banks sell their loans to investors that 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 so about $1,000 on each $10,000 invested. Now thats a calendar year so youll need a bit invested to create that $5,000 a 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 fantastic cash flow investment. .
What I enjoy about p2p investing on Lending Club is the sites automated investing instrument. You pick the criteria for loans in which you want to invest and the application does the rest. It will look for loans every day which meet those factors and mechanically invest your money. Its important as 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 might 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 encouraged as a crowdfunding website for creative people like artists and writers but its for anyone with a side-hustle idea.
Patreon is actually how the arts used to work hundreds of years back. 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 to your own works. You construct a community of people interested in your work, another usage of a blog that will double-duty with this passive income plan, and then request them to make contributions each time you produce something. .
Now patrons dont come away empty-handed, you offer benefits and copies of this work. So for a writer, you could offer copies of your own books. You can 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 massive source of income. Have a peek at the Patreon site for Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of only $3 a month would be a monthly income of nearly $19,000 and they get cheerleaders which are always pleased 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 ideas 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 was that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling products. Together with Amazon FBA, you contract with a manufacturer to send everything directly to Amazon warehouses throughout the country.
The manufacturer is going to put everything together, package it and even put your label on it. Then you just run your advertising and market everything from the webpage on the worlds biggest internet shopping site.
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Ive got a couple of interviews on the blog from folks that have begun shops through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $5,000 per month is easily attainable in less than that.
Making legitimate passive income isnt as difficult as you might think. Some of the best passive income ideas might take a little time to set up but can begin money flowing within a couple of months and will offer a consistent monthly income for many years or more. The most important point is just to get started.