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Our next passive income idea is another twist on crowdfunding known as Patreon. The site is encouraged as a crowdfunding site for creative people like artists and writers but 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 for their patrons to support their work through regular contributions.

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

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Now patrons dont come off empty-handed, you provide rewards and copies of this work. So to get a writer, you might offer copies of your own books. You can promise to thank patrons on your site 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 to get Kinda Funny, an internet movie company. They've 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 past 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 market your own products.

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 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 label on it. Then you simply Find Out More run your advertising and sell everything from your page on the worlds largest internet shopping website.

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 blue jeans along with your name stitched across the pocket, so you can now get started for just a few thousand in inventory.

Ive got a few interviews on the blog from people who have begun shops through Amazon FBA. Some of them are making six-figure incomes in less than a year therefore $5,000 a month is easily achievable in less than that.

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Making legitimate passive income isnt as difficult as you might think. Some of the best passive income thoughts might take a little time to install but can start cash flowing within a couple of months and will offer a consistent monthly income for many years or longer. The most important point is simply to get started.

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

First, lets have a peek at what passive income is. Passive income essentially includes any money you make 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 have to be involved with the money that they are making.

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Residual income includes payments you will receive after a sale. Usually these payments have been agreed upon in advance and will continue long after the sale. A good instance of this is royalties that someone gets to get a movie or book. They only write the movie 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 work.

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

Now that you know the differences between passive and residual income, It's time to learn about some of the most common methods individuals use to earn basics 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 which needs to be renewed each month or week, which will allow you to continue to create money after the initial sale.

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