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The reason you would want to buy an existing laundromat is that the startup costs are pretty high. Commercial washers and dryers are not affordable. It makes a lot more financial sense to purchase 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 popular sports for kids in America. Yet batting cages are hard to come by depending on your geographical area.
Something to know about, though, is that these can need a lot of money up front. You will need to have a significant facility, equipment, and someone to run the cage.
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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 products even with no prior design skills. Websites such as Redbubble allow you to upload your witty design ideas and then create t-shirts, coffee mugs, notebook covers, etc..
Shoppers then stop by the site and check out your goods. 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 products.
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Bond and CD laddering involves owning several different bonds and/or Certificates of Deposit. Every one develops 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 might not earn as much return as a Peer-to-Peer lending investment, bonds and CDs also generally arrive with little to no danger. This can help ensure a good income supply 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 sites by both parties. Also, get paid in money beforehand, and find a current photo ID and secondary evidence of speech from renters.
This can help you to guard the property youre renting out. For extra peace of mind, consider requesting a security deposit as well.
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As you can see there are a ton of ways which you can make passive income. With luck, this record has helped you narrow down which source of income is best for you.
So if youre tired of the traditional means of making money, implement a few of the passive income strategies above so you can start working and making more money while you sleep today.
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In the wise ideas like an online course to the dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about pretty much every passive income flow there's.
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During this time the one thing I wanted more than anything else, was a large fat epic list of ALL the possible passive income flows there were.
Unfortunately no one has even until this afternoon made an entire list. I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income stream from my head, my notes and the world wide interwebs!
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Ie first you need to haul ass and do something crazy, eg write 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 own iPhone every morning as sale after sale after sale is madeon an ongoing basis and without any additional effort.
Because you can observe passive income streams simply come out of resources, and assets are bought with money (eg rental property) or even in the case of most of the ideas below, purchased through sweat (eg ebook)!