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Our next passive income notion is another twist on crowdfunding called Patreon. The website is promoted as a crowdfunding site for creative people like artists and writers but really its own for anyone with a side-hustle idea.

Patreon is really 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.

So now the site Patreon gives you the opportunity to get patrons for your own works. You construct a community of individuals interested in your work, another use of a site that will double-duty for this passive income strategy, and then request them to make contributions every time you create something. .

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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 books. You can promise to publicly thank patrons on your site or to market something of theirs in the future.

Even if every patron only contributes a very small amount every month, it can still be a huge source of income. Take a look at the Patreon site for 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 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 most exciting income thoughts Ive seen in years. Amazon FBA makes it easy to start your own retail company, to market your own products.

It was that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. With Amazon FBA, you contract with a manufacturer to send everything directly to Amazon warehouses throughout the country.

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The manufacturer is going to put everything together, package it and even set your label on it. Then you just run your advertising try this and sell everything from the page on the worlds largest internet shopping site.

Amazon FBA gives you the opportunity to compete with the biggest names in retail. Always wanted to start a toy company, move over Hasbro. Want a line of jeans with your name stitched across the pocket, you can now get started for just a few thousand in inventory.

Ive got a few interviews on the site from people who have begun stores through Amazon FBA. Some of them are making high-income incomes in less useful site than a year therefore $5,000 a month is easily attainable in less than that.

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Making legitimate passive income isnt as hard as you might think. Some of the very best passive income thoughts may take a little time to set up but can start money flowing within a few months and will offer a consistent monthly income for many years or more. The most important point is simply to get started.

In part three of the series we will discuss the differences between remaining income and passive income. These two terms are often used interchangeably, but in fact they are not the same thing. There are a number of similarities, but there are also some big differences between residual income and passive income income.Before I move onto part of the Residual Income Series. .

First, lets take a peek at what passive income is. Passive income essentially includes any money you make without doing any work. Often times this money comes from investments of time or money that you have made. With passive income that the person does not have to be directly involved with all the money that they are making.

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Residual income includes payments that you will receive after a sale. Normally these payments are agreed upon in advance description and will continue long after the sale. A good instance of this is royalties that someone gets to get a film or book. They only write the movie or book once, but it can continue to be sold and resold again and again, which allows you to continue to make money from your job.

Earning income can eventually turn into passive income with time, as you can eventually earn money without doing an excess work. .

Now that you know the differences between passive and residual income, it is time to learn about some of the most common methods individuals use to earn residual income:

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-Selling products online: This is one of the most common methods to earn residual income. It usually involves a fee that needs to be renewed each month per week, which will make it possible for you to continue to create money after the initial sale.