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Another investment I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a few years now and have reserved returns only under 10%. Now that might 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 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 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 a 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 fantastic 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 application does the rest. It will look for loans daily that 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 automatic investing tool on Lending Club gets the investment completely passive. I could only check in on my account once a 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 notion is another twist on crowdfunding known as Patreon. The site is promoted as a crowdfunding site for creative people like artists and writers but really its own 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 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 provides you the opportunity to get patrons to your own works. You build 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 each time you create 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 could promise to publicly thank patrons on your blog or to market something of this article theirs in the future.
Even look at this website if every patron only contributes a very small amount each month, it can still be a massive source of income. Take a peek at the Patreon page for Kinda Funny, an internet movie company. They've over 6,209 patrons which means an average of just $3 a month would be a monthly income of nearly $19,000 plus they get cheerleaders which are always pleased 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 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 across the country.
The manufacturer is going to put everything together, pack it and even set your tag on it. Then you just run your advertising and sell everything from your page on the worlds biggest internet shopping website.
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Ive got a couple of interviews on the site from folks who have started shops through Amazon FBA. A couple of them are making high-income incomes in less than a year therefore $5,000 per month is readily achievable in less than that.
Making legitimate passive income isnt as hard as you may think. A number of the very best passive income ideas may take a little time to install but can start cash flowing within a couple of months and will provide a consistent monthly income for many years or more. The most important point is just to get started.