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Another investment I emphasized recently was p2p lending through Lending Club. Ive been investing in p2p for a couple of years now and have booked returns just under 10%. Now that might not sound fantastic against double-digit stock returns but its double what you get from additional fixed-income investments.
Investing in loans is nothing new. In reality, I guarantee you already have money in them via any pension plan or insurance. You see banks sell their loans to investors who 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 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 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 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 every day which meet those variables and automatically invest your money. Its important as 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 might 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 notion is another twist on crowdfunding known as Patreon. The site is encouraged as a crowdfunding site for creative people like artists and writers but really its for anyone with a side-hustle notion.
Patreon is actually how the arts used to work hundreds of years back. Back during the renaissance, artists used 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 acquire patrons for your own works. You build a community of individuals interested in your job, another use of a blog that will double-duty for this passive income strategy, and then request them to make contributions each time you produce something. .
Now patrons dont come off empty-handed, you provide rewards and copies of the job. So for a writer, you might offer copies of your books. You could promise to 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 every month, it can still be a massive source of income. Have a look at the Patreon site to get Kinda Funny, an internet movie company. They have over 6,209 patrons that means an average of just $3 a 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 via Amazon FBA. This really is one of the most 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 solutions. Together with Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses across the country.
The manufacturer is going to put everything together, package it and even set your label on it. Then you simply run your advertising and market everything from your page on the worlds biggest internet shopping website.
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Ive got a couple of interviews on the site from people who have started shops through Amazon FBA. A couple of them are making high-income incomes in less than a year therefore $5,000 per month is easily achievable in less than that.
Making legitimate passive income isnt as hard as you may think. A number of the best passive income ideas may take a little time to set up but can start money flowing within a couple of months and will offer a consistent monthly income for years or longer. The most important point is simply to get started.