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If you own an excellent camera, making money with your photography skills is attainable through websites like Shutterstock and iStockPhoto. These websites allow you to make an account and upload your own inventory of photos in a matter of minutes.
Individual customers and businesses can purchase your stock images for their sites and marketing materials. Simple stock photographs, like businessmen shaking hands along with even a woman riding in a car, are sought after by many companies. To be successful, youll want to upload photos monthly to consistently increase your portfolio.
With sites like Wrapify and StickerRide, you can earn hundreds of dollars each month by simply driving around town. Youll need to put an advertisement on your car and push a certain number of miles each month. If youre on the road for work, traveling, or school, advertising allows you to earn additional money without any extra time commitment. .
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Owning property can earn you passive income for decades to come. Once you purchase a duplex, house, or apartment building as a rental house, youll earn a consistent monthly income with minimal job. Rent should cover your mortgage, taxes, repairs, and other expenses. Youll continue to earn income by paying off your mortgage with the rent money and saving surplus rental income. .
You can manage the property , which includes tasks like finding tenants, scheduling repairs, and maintaining the house, or youcan hire a property manager to look after these responsibilities for you. In case you the manage your property, youll see additional income, but youll also have to invest more of your time. .
Turn your burning passions and daily musings into an entertaining audio show. Whether you want to talk about history, food, finance, or music, you can record and edit episodes anonymous from the comfort of your home. Once you have a large group of listeners, you can earn money from podcast sponsorships, internet affiliate marketing, selling products or eBooks, or crowdfunding.
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Establishing residual income allows you to accumulate wealth faster, have a more flexible lifestyle and maintain a diverse financial portfolio. Just like any successful investment, hard work is needed. With residual income, however, that work tends to be upfront. Once your revenue stream is set up, the work and time involved is significantly lower than busy income sources.