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Another investment that I highlighted 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 may 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 via 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 about $1,000 on each $10,000 invested. Now thats a calendar year so youll need a bit invested to make that $5,000 per month but even a small portfolio will constantly be putting cash in your account. You get 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 pick the standards for loans in which you want to invest and the application does the rest. It will search for loans daily which meet those factors and mechanically 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 automated investing instrument on Lending Club gets the investment completely 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 known as Patreon. The website is promoted as a crowdfunding website 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 utilized to ask the rich for their patrons to support their work through regular contributions.
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So now the website Patreon gives you the opportunity to acquire patrons to your own works. You build find out this here a community of people interested in your job, another use of a site that does double-duty with this passive income plan, and then ask them to make contributions every time you create something. .
Now patrons dont come away empty-handed, you provide rewards and copies of this work. So to get a writer, you might offer copies of your books. You can promise to publicly 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 peek at the Patreon page for Kinda Funny, an internet video company. They have over 6,209 patrons that great post to read 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 last passive income source is creating your own brand and selling via Amazon FBA. This really is one of the most 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 across the country.
The manufacturer is going to put everything together, pack it and even put your tag on it. Then you simply run your advertising and sell everything from the page on the worlds biggest internet shopping website.
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Ive got a couple of interviews on the site from folks that have started stores through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $5,000 a month is easily attainable in less than that.
Making legitimate passive income isnt as difficult as you might think. A number of the best passive income thoughts might take a little time to install but can begin money flowing within a couple of months and will provide a consistent monthly income for years or longer. The most important point is just to begin.