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If so, take a look at a site like Shutterstock.  You send your photographs to Shutterstock and if they're approved, every time one of Shutterstocks clients downloads one of your photos youll get a paid a royalty.

If you are a bit techie and can come up with some unique ideas for mobile apps, or improve upon an existing program which will help people make their lives better, you may land yourself a fantastic source of passive income.

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Every program on your phone is making money for somebody, somewhere. For instance, Joel Comm created over $1Million from his iFart app.

While these are the exceptions, there are plenty of people making thousands of dollars each month with their mobile programs.

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How would you prefer to make money just for driving your car and not have to pick up any passengers By allowing companies to place advertisements on your car windows, you can earn a couple of hundred dollars each month by simply driving your vehicle around town.

Check out Wrapify to see how you might be able to make passive income by simply wrapping your car with an advertisement.

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The beauty of an online business is that the majority will enable you to operate from anywhere. Starting one from scratch can take a good deal of time and resources. Why not consider buying an already established online business Sites such as Biz Buy Sell have hundreds of online business listings which are for sale in varying price ranges. .

Check to see if there is an online business for sale that's in line with your passions or hobbies. Again, in order for this idea to make 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 established laundromats that are offered for sale.

The reason why you would want to purchase an existing laundromat is that the startup costs are fairly high. Commercial washers and dryers are not affordable. It makes a lot more financial sense to buy an already established laundromat than to start from scratch.

I am shocked by the lack of batting cage facilities. Baseball is one of the most well-known sports for children in the usa. Nonetheless batting cages are tough to come by depending on your geographical area.

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Something to know about, however, is that these can require a great deal of money up front. You will have to have a significant centre, equipment, and someone to run the cage.

So be sure that you do your due diligence before you invest too much money in this endeavor. Buying an existing batting cage business could possibly be a more financially sound choice.

Another way you can make passive income is by designing t-shirts and other goods even with no previous design webpage skills. Sites 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 check out your goods. When they purchase one of the designs, Redbubble will pay you a portion of the profits. They handle all 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.

Although many CDs and bonds may not earn as much return as a Peer-to-Peer lending investment, bonds and CDs also generally come with little to no danger. This helps ensure a good income source on a regular basis.

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Thousands of people every day are looking to rent any range of things. Craigslist can be a excellent place to advertise your items for rent. Here are some ideas of products that you could rent out:

Just ensure you have a proper rental agreement signed by both parties. Also, get paid in cash beforehand, and find a current photo ID and secondary proof of address from renters.

This will allow you to protect 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 which you can earn 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 that you can start working less and making more money as you sleep now.