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Another investment I emphasized recently was p2p lending through Lending Club. Ive been investing in p2p for a couple of decades now and have booked returns only under 10%. Now that might not sound great against double-digit stock returns but its dual 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 money flow so their biggest 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 quite a bit invested to make that $5,000 a month but even a little portfolio will constantly be putting cash in your account. You receive 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 sites automated investing tool. 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 factors and automatically invest your money. Its important as youre collecting money on your loan investments daily so that you want that money reinvested as soon as possible. .
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The automatic investing tool on Lending Club gets the investment completely passive. I might only check in on my account once per month or even more 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 encouraged as a crowdfunding site for creative people like artists and writers but its 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 utilized to ask the wealthy for 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 build a community of people interested in your job, another usage of a blog that will double-duty with 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 image source this work. So to get a writer, you might offer copies of your own books. You could promise to publicly thank patrons on your site or to promote something of theirs in the long run.
Even if each patron only contributes a very small amount each month, it can still be a massive source of income. Have a look at the Patreon page for Kinda Funny, an internet movie company. They've over 6,209 patrons that means an average of just $3 a month would be a monthly income of nearly $19,000 and they get cheerleaders that are always happy to spread the word on their brand. .
Our past passive income source is creating your own brand and selling via Amazon FBA. This is one of the most 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 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 directly to Amazon warehouses across the country.
The manufacturer is going to put everything together, package it and even set your tag on it. Then you simply run your advertising and sell everything from the page on the worlds largest internet shopping website.
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Ive got a couple of interviews on the site from folks that have started shops through Amazon FBA. A couple of them are making high-income incomes in less than a year so $5,000 a month is easily 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 few months and will offer a consistent monthly income for years or longer. The most important point is simply to get started.