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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 cheap. It makes a lot 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 children in the usa. Nonetheless batting cages are tough to come by depending on where you live.
Something to know about, however, is that these can require a lot of money up front. You will need to have a big facility, equipment, and someone to run the crate.
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So make sure to 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 abilities. Websites like Redbubble allow you to upload your witty design ideas and then make t-shirts, coffee mugs, laptop covers, etc..
Shoppers then visit the site and take a look at your products. When they buy one of the 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 several different bonds and/or Certificates of Deposit. Each one matures at different times during the year. Then you take the profits from those investments as cash income during the year.
Though 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 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 wonderful place to promote your items for rent. Here are some thoughts of products You Could rent out:
Just ensure you have a proper rental agreement signed by both parties. Also, get paid in cash beforehand, and get a current photo ID and secondary evidence of speech from renters.
This will allow you to guard the home youre renting out. For extra peace of mind, consider requesting a safety deposit as well.
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As you can see there are a ton of ways that you can make passive income. With luck, this list has helped you narrow down which source of income is most effective for you.
If youre tired of this traditional means of making money, implement some of the passive income strategies above so you can begin working and making more money as you sleep today.
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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 flow there's.
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During this time the one thing I wanted more than anything else, was a big fat epic record of all of the possible passive income streams there were.
Unfortunately no one has even till this afternoon made an entire list. I spent the last week getting loaded 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 get to sit back and enjoy seeing PayPal sale messages pop up on your iPhone each morning as sale after sale after sale is madeon an ongoing basis and without any additional work.
As you can see passive income streams simply come from assets, and assets are either bought with money (eg rental property) or in the case of almost all of the ideas under, purchased through perspiration (eg ebook)!