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Another investment that I emphasized recently was p2p lending through Lending Club. Ive been investing in p2p for a couple of decades now and have booked returns just under 10%. Now that may not sound great against double-digit stock returns but its dual everything you get from other fixed-income investments.
Investing in loans is nothing new. In fact, I guarantee you already 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 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 calendar year so youll need a bit invested to create 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 the websites automated investing instrument. You pick the standards for loans in which you want to invest and the program does the rest. It will look for loans daily that meet those variables and mechanically invest your money. Its important because youre collecting money on your loan investments every day 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 completely passive. I might only check in on my account once a month or even more often. I know that app is going to keep investing my money for a stable and passive return.
Our next passive income idea 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 idea.
Patreon is really how the arts used to work hundreds of years back. Back during the renaissance, artists utilized to ask the wealthy 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 people interested in your job, another use of a blog that will double-duty with this passive income strategy, and then ask them to make contributions each time you produce something. .
Now patrons dont come away empty-handed, you provide benefits and copies of the job. So for a writer, you might offer copies of your books. You can promise to publicly thank patrons on your blog or to market something of theirs in the long run.
Even if every patron only contributes a very small amount every month, it can still be a massive source of income. Have a peek at the Patreon page to get Kinda Funny, an internet movie company. They've 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 last passive income source is creating your own brand and selling via 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 sell your own products.
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It was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses across the country.
The manufacturer is going to put everything together, package it and even put your label on it. Then you simply run your advertising and sell everything from your page on the worlds largest internet shopping site.
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Ive got a visite site few interviews on the blog from folks who have started shops through Amazon FBA. A couple of them are making six-figure incomes in less than a year so $5,000 per month is easily attainable in less than that.
Making legitimate passive income isnt as hard as you might think. Some of the very best passive income thoughts may take a little time to set up but can begin money flowing within a few months and will provide a consistent monthly income for many years or longer. The most important point is simply to get started.