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P2P lending can be a bit risky, but there's potential for a pretty good return on your investment. If youre interested you should take some time to educate yourself and ensure you understand all the particulars. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding sites allow you to invest in real estate without all the headaches that usually go along with owning real estate. You dont have any of the job, you merely invest and take on a few of the threat.
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This is a really common investment since so many people want to invest in real estate but dont have the time or want to be a landlord. Also, in many instances you can begin with a relatively small investment.
REITs (Real Estate Investment Trust) provide another way to invest in property without the hassle of being a landlord. The REIT owns income-producing property such as office buildings, apartment complexes, shopping malls, or hotels. REITs make it possible to invest in real estate on a tiny scale, and also to earn a share of their income generated. .
There are several different kinds of REITs. Some are publicly traded on a stock exchange, and some are not. REITs might also be in the kind of mutual funds or ETFs.
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If youre looking for an easy way to start with real estate investing, REITs can be an excellent choice.
Obviously, another option for investing in real estate is your excellent old fashion rental home. You can purchase a condo, single-family residence , or multi-unit home.
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Owning rental properties can be a fantastic source of income, however whether or not it is really passive will depend on a few aspects. The more properties you own and the more tenants you manage, the longer you will need to put into it. If you want it to be a passive investment that the best option is to hire a property manager. .
Here is a potentially lucrative passive income source which may be completely new to you. You can add authorized users for your own credit cards (without actually giving them a card or access for your account) and be paid to do it. Individuals that are looking to boost their credit rating can find a increase in their score by simply piggybacking off of your payment history.
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If youve never heard of selling/renting tradelines before it likely sounds ridiculous and dangerous. The first concern usually involves putting yourself in danger for adding an authorized user which you dont click over here now know and hope. However, the procedure only involves adding the user to your account, the card will be sent to your own address and you can destroy it.
However, there's still some risk involved. The risk involves the chance of your credit card account being shut by the issuer, because in many cases this will be violating the terms. Its not illegal, however it will violate the terms of the credit card companies, so they can close your account if they know you're doing it. .
Its definitely not for check over here everyone, but a few people are making good money with hardly any work. If you want to learn more I recommend reading this thread in Mr. Money Mustache for lots of details from a guy who is making a couple thousand dollars per month with this and its quite passive. .
One of my favourite, easy ways to make money is through credit card bonuses. Many credit cards can provide you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. For instance, right now Chase is offering a $150 bonus if you sign up for a Chase Freedom Unlimited card and spend $500 on the card within the first 90 days. If youre like me and you make most of your purchases with a credit card, hitting $500 in 3 months discover this is easy. .
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Now, this isnt something which you can perform all of the time, however you can sign up to get a new credit card two a year, depending on your situation. Ive made hundreds of bucks each of the past 2 or 3 years using this approach.
Don't go overboard. Opening too many new credit accounts in a brief period of time can damage your ability to get credit when you need it.