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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 reserved returns only under 10%. Now that may 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 fact, I guarantee you have money in them through 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 every $10,000 invested. Now thats a year so youll need quite a bit invested to create that $5,000 a month but even a small 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 enjoy about p2p investing on Lending Club is the 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 that meet those factors and mechanically invest your money. Its important as youre collecting money on your loan investments every day so you want that money reinvested as soon as possible. .
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The automatic investing instrument on Lending Club makes 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 secure and passive return.
Our next passive income idea is another twist on crowdfunding known as Patreon. The site is promoted as a crowdfunding website for creative people like artists and writers but really its for anyone with a side-hustle idea.
Patreon is actually how the arts used to operate hundreds of years back. Back during the renaissance, artists utilized 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 get patrons to your own works. You construct a community of people interested in your work, another usage of a blog that will double-duty for this passive income strategy, and then ask them to make contributions each time you create image source something. .
Now patrons dont come away empty-handed, you provide benefits and copies of this job. So for a writer, you could offer copies of your own books. You can promise to publicly thank patrons on your blog or to market something of theirs in the long run.
Even if each patron only contributes a very small amount every month, it can still be a huge source of income. Take a peek at the Patreon site 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 nearly $19,000 and they get cheerleaders which 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 thoughts 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 dollars for manufacturing, marketing, logistics, everything that went into selling solutions. Together with Amazon FBA, you contract with a manufacturer to send everything straight 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 sell everything from your webpage on the worlds largest internet shopping site.
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Ive got a couple of interviews on the site from folks that have started stores through Amazon FBA. A couple of them are making high-income incomes in less than a year so $5,000 a month is readily achievable in less than that.
Making legitimate passive income isnt as hard as you might think. A number of the very best passive income thoughts may take a little time to install but can begin cash flowing within a couple of months and will provide a consistent monthly income for years or longer. The most important point is simply to get started.