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Another investment that I emphasized 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 reality, I guarantee you have money in them through 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 so about $1,000 on each $10,000 invested. Now thats a year so youll need quite a bit invested to create that $5,000 per month but even a small portfolio will constantly be putting money 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 decide on the standards for loans in which you want to invest and the program does the rest. It will search for loans daily that fulfill those variables and automatically 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 makes 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 secure 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 idea.
Patreon is actually how the arts used to operate 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 site Patreon gives you the opportunity to acquire patrons for your own works. You build a community of people interested in your job, another usage of a blog that does double-duty with this passive income plan, and then request them to make contributions every time you create something. .
Now patrons dont come away empty-handed, you offer benefits and copies of the work. So for a writer, you could offer copies of your books. You could promise to thank patrons on your site or to market something of theirs in the future.
Even if each patron only contributes a very small amount each month, it can still be a massive source of income. Have a look at the Patreon page to get Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of just $3 a month would be a monthly income of almost $19,000 and 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 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 dollars for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer Read Full Report to send everything straight to Amazon warehouses throughout the country.
The manufacturer is going to put everything together, package it and even put your label on it. Then you just run your advertising and market everything from your page on the worlds largest internet shopping website.
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Ive got a few interviews on the blog from people that have started shops through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $5,000 per month is readily attainable in less than that.
Making legitimate passive income isnt as hard as you might think. Some of the best passive income thoughts might take a little time to set up but can begin cash flowing within a few months and will offer a consistent monthly income for years or longer. The most important point is just to begin.