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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 just under 10%. Now that might not sound fantastic against double-digit stock returns but its double everything 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 each $10,000 invested. Now thats a year so youll need a bit invested to make 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 the websites automated investing tool. You decide on 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 variables and mechanically 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 might 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 website is encouraged as a crowdfunding website for creative people like artists and writers but really its for anyone with a side-hustle notion.
Patreon is really how the arts used to operate hundreds of years ago. 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 gives you the opportunity to acquire patrons for your own works. You build a community of individuals interested in your work, another usage of a site that does double-duty for this passive income plan, and then ask them to make contributions every time you produce something. .
Now patrons dont come off empty-handed, you provide read what he said benefits and copies of this work. So to get a writer, you might offer copies of your books. You could promise to publicly thank patrons on your blog or to promote something of theirs in the future.
Even 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 that means an average of only $3 a month would be a monthly income of almost $19,000 and they get cheerleaders that 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 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 send everything directly 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 simply run your advertising and market everything from the webpage on the worlds largest internet shopping site.
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Ive got a couple of interviews on the blog from folks who have started shops through Amazon FBA. Some of them are making six-figure 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 might think. Some of the best passive income thoughts may take a little time to install but can begin money flowing within a couple of months and will offer a consistent monthly income for years or more. The most important point is just to get started.