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Another investment that I emphasized recently was p2p lending through Lending Club. Ive been investing in p2p for a few years now and have booked returns only under 10%. Now that might not sound great against double-digit stock returns but its double everything you get from additional 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 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 every $10,000 invested. Now thats a year so youll need quite a bit invested to make that $5,000 a month but even a small portfolio will constantly be putting cash in your account. You receive 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 tool. You pick the criteria 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 as 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 entirely 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 secure 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 really its for anyone with a side-hustle idea.
Patreon is actually how the arts used to work hundreds of years back. Back during the renaissance, artists used to ask the wealthy to be their patrons to support their work through regular contributions.
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So now the website Patreon provides you the opportunity to get patrons for your own works. You construct a community of individuals interested in your work, another usage of a site that will double-duty with this passive income plan, and then request them to make contributions each time you create something. .
Now patrons dont come away empty-handed, you provide rewards and copies of the job. So to get a writer, you might offer copies of your own books. You could promise to publicly 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 each month, it can still be a massive source of income. Have a look at the Patreon page to get Kinda Funny, an internet video company. They've over 6,209 patrons that 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 ideas Ive seen in years. Amazon FBA makes it easy to start your own retail company, to sell your own products.
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It was 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 ship everything directly to Amazon warehouses across the country.
The manufacturer is going to put everything together, package it and even put your tag on it. Then you simply run your advertising and market everything from the webpage on the worlds biggest internet shopping website.
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Ive got a few interviews on the site from folks who have started shops through Amazon FBA. A couple of them are making six-figure incomes in less than a year so $5,000 a month is easily attainable in less than that.
Making legitimate passive income isnt as difficult as you may think. A number of the best passive income ideas might take a little time to install but can start money flowing within a few months and will provide a consistent monthly income for years or longer. The most important point is just to begin.