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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 double what you get from other fixed-income investments.
Investing in loans is nothing new. In fact, 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 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 a bit invested to create that $5,000 per month but even a little portfolio will constantly be putting money 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 sites automated investing instrument. You decide on the criteria for loans in which you want to invest and the application does the rest. It will search for loans daily which meet those factors and mechanically invest your money. Its important as youre collecting money on your loan investments daily so you want that money reinvested as soon as possible. .
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The automatic investing tool on Lending Club makes 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 secure and passive return.
Our next passive income notion is another twist on crowdfunding called Patreon. The site is encouraged as a crowdfunding site for creative people like artists and writers but its own for anyone with a side-hustle notion.
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 build a community of individuals interested in your work, another use of a site that will double-duty for this passive income strategy, and then request them to make contributions each time you produce something. .
Now patrons dont come away empty-handed, you offer rewards and copies of the work. So for a writer, you could offer copies of your books. You can promise to publicly thank patrons on your blog 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 site for 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 almost $19,000 and they get cheerleaders that are always pleased to spread the word on their brand. .
Our past passive income source is creating your own brand and selling through Amazon FBA. This is one of the very exciting income ideas Ive seen in years. Amazon FBA makes it easy to start your own retail company, to market your own products.
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It used to be that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling solutions. Together with Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses throughout the country.
The manufacturer is going to put everything together, pack it and even put your label on it. Then you see this page 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 stores through Amazon FBA. A couple of them are making six-figure incomes in less than a year therefore $5,000 per month is readily 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 install but can begin money flowing within a few months and will offer a consistent monthly income for many years or longer. The most important point is just to begin.