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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 just under 10%. Now that may not sound fantastic against double-digit stock returns but its dual everything you get from additional 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 who need reliable money 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 a bit invested to create that $5,000 per month but even a small portfolio will constantly be putting money in your account. You receive 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 decide on 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 factors and mechanically invest your money. Its important because youre collecting money on your loan investments every day so that you want to have that money reinvested as soon as possible. .
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The automatic investing instrument on Lending Club gets the investment completely 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 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 its own for anyone with a side-hustle notion.
Patreon is actually how the arts used to work hundreds of years ago. Back during the renaissance, artists used to ask the wealthy 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 acquire patrons to your own works. You construct 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 every time you create something. .
Now patrons dont come away empty-handed, you provide benefits and copies of the work. So for a writer, you might offer copies of your own books. You can promise to thank patrons on your site or to market something of theirs in the future.
Even if each patron only contributes a very small amount every month, it can still be a massive source of income. Have a look at the Patreon site for Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of only $3 a month are a monthly income of nearly $19,000 plus 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 bucks for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses throughout the country.
The manufacturer is going to put everything about his together, package it and even set your tag on it. Then you simply run your advertising and sell everything from the webpage on the worlds largest linked here internet shopping site.
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Ive got a couple of interviews on the blog from people who have started stores through Amazon FBA. Some of them are making high-income incomes in less than a year so $5,000 a month is easily achievable in less than that.
Making legitimate passive income isnt as difficult as you may think. Some of the very best passive income ideas may take a little time to set up but can begin money flowing within a few months and will offer a consistent monthly income for years or longer. The most important point is just to begin.