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Another investment I highlighted 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 may not sound fantastic against double-digit stock returns but its double everything you get from other 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 cash 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 every $10,000 invested. Now thats a year so youll need a bit invested to make that $5,000 per 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 like about p2p investing on Lending Club is the sites automated investing instrument. You decide on the standards for loans in which you want to invest and the application does the rest. It will look for loans daily which fulfill those variables and automatically invest your money. Its important as youre collecting money on your loan investments every day so that you want that money reinvested as soon as possible. .
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The automated investing tool 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 promoted as a crowdfunding website for creative people like artists and writers but really its for anyone with a side-hustle idea.
Patreon is really how the arts used to work hundreds of years ago. Back during the renaissance, artists utilized to ask the rich for their patrons to support their work through regular contributions.
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So now the website Patreon provides you the opportunity to get patrons to your own works. You build a community of individuals interested in your job, another usage of a site that will double-duty with this passive income strategy, and then request them to make contributions each time you create something. .
Now patrons dont come off empty-handed, you provide benefits and copies of the work. So for a writer, you might offer copies of your own books. You could promise to thank patrons on your site or to promote something of theirs in the future.
Even if every patron only contributes a very small amount each month, it can still be a massive source of income. Take a look at the Patreon site for Kinda Funny, an internet video company. They've i was reading this over 6,209 patrons which means an average of just $3 a month would be a monthly income of nearly $19,000 and 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 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 products. Together with Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses website link throughout 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 sell everything from your page on the worlds biggest internet shopping site.
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Ive got a few interviews on the blog from folks who have started shops through Amazon FBA. A couple of them are making six-figure incomes in less than a year therefore $5,000 a month is easily achievable 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 install but can begin cash flowing within a few months and will offer a consistent monthly income for many years or longer. The most important point is simply to get started.