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Another investment I emphasized recently was p2p lending through Lending Club. Ive been investing in p2p for a few decades now and have booked returns just under 10%. Now that may not sound great against double-digit stock returns but its double everything you get from other fixed-income investments.
Investing in loans is nothing new. In reality, I guarantee you have money in them via any pension plan or insurance. You see banks sell their loans to investors who 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 so about $1,000 on each $10,000 invested. Now thats a year so youll need 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 great cash flow investment. .
What I enjoy about p2p investing on Lending Club is the websites automated investing tool. You decide on 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 variables and mechanically invest your money. Its important as youre collecting money on your loan investments every day so that you want to have that money reinvested as soon as possible. .
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The automated investing tool on Lending Club gets the investment entirely passive. I could 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 website is encouraged 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 used to ask the rich my sources for their patrons to support their work through regular contributions.
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So now the website Patreon gives you the opportunity to get patrons for 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 plan, and then ask them to make contributions each time you produce something. .
Now patrons dont come away empty-handed, you offer rewards and copies of this work. So to get a writer, you might offer copies of your books. You could promise to publicly thank patrons on your blog or to promote 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. Have a look at the Patreon site for Kinda Funny, an internet video company. They've over 6,209 patrons which means an average of just $3 a month are a monthly income of almost $19,000 plus 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 is one of the very exciting income ideas 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 was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. Together with Amazon FBA, you contract with a manufacturer to send everything straight to Amazon warehouses throughout the country.
The manufacturer is going to put everything together, pack it and even put your tag on it. Then you just run your advertising and market everything from your page on the worlds biggest internet shopping site.
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Ive got a few interviews on the site from folks who have started stores through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 per month is easily achievable in less than that.
Making valid passive income isnt as hard as you may think. Some of the best passive income ideas may take a little time to set up but can start money flowing within a few months and will provide a consistent web link monthly income for many years or longer. The most important point is just to begin.