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The reason why you would want to purchase an existing laundromat is that the startup costs are pretty high. Commercial washers and dryers are not affordable. It makes far more financial sense to buy an already established laundromat than to begin from scratch.
I'm shocked by the lack of batting cage facilities. Baseball is one of the most popular sports for kids in America. Yet batting cages are tough to come by depending on your geographical area.
Something to be aware of, though, is that these can require a lot of money up front. You'll need to have a big facility, equipment, and someone to run the cage.
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So be certain to do your due diligence before you invest too much money in this endeavor. Buying an existing batting cage business may be a more financially sound option.
Another way you can make passive income is by designing t-shirts and other goods even with no previous design skills. Websites like Redbubble allow you to upload your witty design ideas and then create t-shirts, coffee mugs, notebook covers, etc..
Shoppers then stop by the website and check out your goods. When they purchase one of your designs, Redbubble will pay you a portion of the profits. They handle all the production and shipping of products.
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Bond and CD laddering involves owning a number of different bonds and/or Certificates of Deposit. Each one develops at different times during the year. Then you take the profits from these investments as cash income during the year.
Though many CDs and bonds might not earn as much return as a Peer-to-Peer lending investment, bonds and CDs also generally come with little to no danger. This can help ensure a good income source on a regular basis.
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Thousands of people daily 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 ensure you have a proper rental agreement signed by both parties. Additionally, get paid in cash beforehand, and get a current photo ID and secondary evidence of speech from renters.
This can help you to protect the home youre renting out. For additional peace of mind, consider requesting a security deposit too.
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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.
If youre tired of this traditional way of making money, implement some of the passive income strategies above so you can start working less and making more money as you sleep now.
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From the wise notions like an online course to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about pretty much every passive income stream there's.
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During this period the one thing I wanted more than anything else, was a big fat epic list of all of the potential passive income flows there were.
Unfortunately no one has even till this afternoon made a complete list. I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income stream from my head, look at here now my notes and the net interwebs!
PS if you want to cut to the chase you can get access to 3 of my preferred passive income ideas here or you can check out 30 of my beloved real life passive income businesses here.
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Ie first you need to haul ass and do something crazy, eg compose a quality 20,000 word blossom (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your iPhone each morning available after sale after sale is madeon an ongoing basis and without any additional work.
As you can see passive income flows simply come out of assets, and assets are either bought with money (eg rental property) or in the event of most of the ideas below, purchased through sweat (eg ebook)!