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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 might not sound fantastic against double-digit stock returns but its dual what you get from additional 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 so about $1,000 on every $10,000 invested. Now thats a year so youll need a bit invested to create that $5,000 a 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 fantastic cash flow investment. .
What I enjoy about p2p investing on Lending Club is your websites automated investing tool. You pick the standards for loans in which you want to invest and the application does the rest. It will look for loans daily which meet those variables and automatically 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 automatic investing instrument 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 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 site is encouraged as a crowdfunding website 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 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 to your own works. You build a community of people interested in your work, another usage of a site that will double-duty for this passive income plan, and then request them to here make contributions every time you produce something. .
Now patrons dont come away empty-handed, you provide rewards and copies of this job. So for a writer, you might offer copies of your own books. You could promise to publicly 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. Take a look at the Patreon site to get Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of just $3 a month would be a monthly income of nearly $19,000 plus they get cheerleaders which are always pleased to spread the word on their brand. .
Our past passive income source is creating your own brand and selling through 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 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 products. Together with Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses across the country.
The manufacturer is going to put everything together, pack it and even put your label on it. Then you just run your advertising and market everything from the webpage on the worlds biggest internet shopping More hints site.
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Ive got a couple of interviews on the blog from folks who have begun stores through Amazon FBA. Some of them are making high-income incomes in less than a year therefore $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 best passive income thoughts might take a little time to set up but can start cash flowing within a couple of months and will provide a consistent monthly income for years or more. The most important point is just to get started.