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Another investment I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a few decades now and have booked returns just 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 reality, I guarantee you have money in them via any pension plan or insurance. You see banks sell their loans to investors that 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 quite a bit invested to make that $5,000 per month but even a small portfolio will constantly be putting cash in your account. You receive 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 tool. You decide on the standards for loans in which you want to invest and the program does the rest. It will search for loans daily which fulfill those variables and automatically 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 makes the investment completely passive. I could only check in on my account once per month or even less 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 known as Patreon. The site is promoted as a crowdfunding website for creative people like artists and writers but its for anyone with a side-hustle idea.
Patreon is actually how the arts used to work hundreds of years back. Back during the renaissance, artists utilized to ask the wealthy for their patrons to support their work through regular contributions.
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So now the website Patreon gives you the opportunity to get patrons to your own works. You construct a community of people interested in your work, another use of a blog that does double-duty with this passive income plan, 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 job. So to get a writer, you could offer copies of your own books. You can promise to thank patrons on your site 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 huge source of income. Have a peek at the Patreon page to get Kinda Funny, an internet movie company. click to read more They've over 6,209 patrons that means an average of only $3 a Recommended Reading month are 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 through Amazon FBA. This really is one of the very exciting income thoughts 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. Together with Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses from this source throughout the country.
The manufacturer is going to put everything together, pack it and even put your label on it. Then you simply run your advertising and market everything from your webpage on the worlds biggest internet shopping website.
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Ive got a couple of interviews on the blog from folks who have begun shops through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 per month is readily attainable in less than that.
Making legitimate passive income isnt as difficult as you may think. A number of the best passive income ideas may take a little time to set up but can begin money flowing within a couple of months and will provide a consistent monthly income for many years or more. The most important point is just to get started.