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The reason why you would want to buy 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 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 well-known sports for kids in America. Nonetheless batting cages are tough to come by depending on where you live.
Something to be aware of, however, is that these can require a lot of money up front. You'll have to have a big 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 goods even with no previous 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 take a look at your goods. When they purchase one of the designs, Redbubble will pay you a portion of the gains. They handle all the production and shipping of merchandise.
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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 take the profits from these investments as cash income during the year.
Although many CDs and bonds may not earn as much of a return as a Peer-to-Peer lending investment, bonds and CDs also generally come with little to no risk. This can help ensure a solid 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 promote your items for rent. Here are some thoughts of products You Could rent out:
Just ensure that you have a proper rental agreement signed by both parties. Additionally, get paid in money beforehand, and get a current photo ID and secondary evidence of address from renters.
This can allow you to protect the home youre renting out. For additional peace of mind, consider requesting a safety deposit as well.
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As you can see there are a ton of ways which you can make passive income. Hopefully, 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 as you sleep now.
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In the smart ideas like an online path to the dress-me-in-the-white-jacket notions like writing articles for adsense, Ive thought about pretty much every passive income flow there is.
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During this period the one thing I wanted more than anything else, was a big fat epic record of all of the potential passive income streams there were.
Unfortunately no one has even until this afternoon made a complete list. I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my mind, 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 ebook (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your own iPhone each morning as sale after sale after sale is madeon an ongoing basis and without any additional effort.
As you can see 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 under, purchased through sweat (eg ebook)!