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If so, take a look at a website like Shutterstock. You send your photos to Shutterstock and if they're approved, every time one of Shutterstocks clients downloads one of your photographs youll receive a paid a royalty.
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Every app on your phone is making money for someone, somewhere. For instance, Joel Comm created over $1Million from his iFart app.
As these are the exceptions, there are plenty of people making thousands of dollars per month with their mobile programs.
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How would you like to create money just for driving your car and not have to pick up any passengers By allowing companies to put advertisements on your car windows, you can earn a couple of hundred dollars each month by simply driving your car around town.
Check out Wrapify to see how you might be able to make passive income by wrapping your car with an advertisement.
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The beauty of an online business is that most will allow you to operate from anywhere. Starting one from scratch can take a good deal of time and tools. Why not consider buying an already established online business Websites such as Biz Buy Sell have hundreds of online business listings that are for sale in varying price ranges. .
Check to see if there is an online business for sale that is in line with your passions or hobbies. Again, in order for this notion to produce passive income, youll need to hire someone to run the business.
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Heres another turnkey passive income business thought. Many cities have created laundromats that are available for sale.
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Something to know about, however, is that these can need a lot of money up front. You'll need to have a significant centre, equipment, and someone to run the cage.
So be certain to do look these up your due diligence before you invest too much money in this endeavor. Buying an existing batting cage business may be a more financially sound choice.
Another way you can make passive income is by designing t-shirts and other goods even with no prior design skills. Websites like Redbubble permit you to upload your witty design ideas and then create t-shirts, coffee mugs, laptop covers, etc..
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Shoppers then visit the site and take a look at your products. When they buy one of your designs, Redbubble will pay you a portion of the profits. They handle all of the production and shipping of merchandise.
Bond and CD laddering involves owning several different bonds and/or Certificates of Deposit. Every one matures at different times during the year. Then you simply take the profits from those investments as cash income during the year.
Though many CDs and bonds may not earn as much of a return as a Peer-to-Peer lending investment, bonds and CDs also generally come with little to no risk. This helps ensure a solid income source on a regular basis.
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Thousands of people every day are looking to rent any variety of items. Craigslist can be a great place to advertise your items for rent. Here are some ideas of products that you could rent out:
Just make sure that you have a proper rental agreement signed by both parties. Also, get paid in cash beforehand, and get a current photo ID and secondary evidence of speech from renters.
This can allow you to guard the home youre renting out. For additional peace of mind, consider requesting a safety deposit as well.
As you can see there are a ton of ways that you can make passive income. Hopefully, this list has helped you narrow down which source of income is most effective for you.
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If youre tired of the traditional means of making money, implement a few of the passive income strategies above so you can begin working and making more money while you sleep now.