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Our next passive income idea 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 operate hundreds of years ago. Back during the renaissance, artists used to ask the wealthy for their patrons to support their work through regular contributions.

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

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Now patrons dont come away empty-handed, you provide benefits 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 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 past 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 effortless to start your own retail company, to sell your own products.

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.

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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 your page on the worlds biggest internet shopping site.

Amazon FBA gives you the opportunity to compete with all the biggest names in retailstores. Always wanted to start a toy company, proceed over Hasbro. Want a line of blue jeans with your name stitched across the pocket, you can now begin for just a couple of thousand in inventory.

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

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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 begin cash flowing within a few months and will provide a consistent monthly income for years or more. The most important point is simply to begin.

In part three of the series we'll go over the differences between residual income and passive income. Both of these terms are often used interchangeably, but in fact they are not the same thing. There are some similarities, but there are also some large differences between remaining income and passive income income.Before I proceed onto a part of the Residual Income Series. .

First, lets have a peek at what passive income is. Passive income essentially includes any money you earn without doing any work. Often times this money comes in investments of time or money which you've made. With passive income the person does not need to be directly involved with the money they are making.

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Residual income includes payments you will receive following a purchase. Usually these payments have been agreed upon in advance and will continue long after the purchase. A fantastic example of this is royalties that someone gets for a film or book. They only write the film or book once, but it can continue to be sold and resold again and again, which permits you to continue to make money from your i loved this job.

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

Now that you know the differences between passive and residual income, it is time to learn about some of the most common methods people 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 normally involves a fee that has to be renewed each month or week, which will allow you to continue to make money after the initial sale.