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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 only under 10%. Now that may not sound fantastic against double-digit stock returns but its double 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 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 so 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 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 the sites automated investing instrument. You pick the criteria for loans in which you want to invest and the program does the rest. It will look for loans daily which fulfill those variables and mechanically invest your money. Its important as youre collecting money on your loan investments daily so you want that money reinvested as soon as possible. .
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The automatic investing tool on Lending Club makes the investment completely passive. I could only check in on my account once a 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 notion is another twist on crowdfunding called Patreon. The site is promoted as a crowdfunding site for creative people like artists and writers but its for anyone with a side-hustle idea.
Patreon is actually how the arts used to work hundreds of years ago. 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 site Patreon gives you the opportunity to acquire patrons for your own works. You construct a community of people interested in your work, another usage of a blog that will double-duty for this passive income strategy, and then ask them to make contributions each time you create something. .
Now patrons dont come off empty-handed, you provide benefits and copies of this job. So to get a writer, you could offer copies of your books. You could promise to thank patrons on your blog or to market something of theirs in the long run.
Even if every patron only contributes a very small amount every month, it can still be a massive source of income. Take a look at the Patreon page for Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of only $3 a month would be a monthly income of nearly $19,000 and they get cheerleaders that are always pleased to spread the word on their brand. .
Our last passive income source is creating your own brand and selling through Amazon FBA. This is one of the most exciting income thoughts Ive seen in years. Amazon FBA makes it effortless 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 bucks for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to send 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 your page on the worlds largest internet shopping site.
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Ive got a couple of interviews on the site from folks who have begun shops through Amazon FBA. A couple of them are making six-figure incomes in less than a year so $5,000 per month is readily achievable in less than that.
Making legitimate passive income isnt as difficult as you might think. A number of the very best passive income thoughts may take a little time to install but can start money flowing within a couple of months and will offer a consistent monthly income for years or more. The most important point is just to get started.