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The reason why you would want to purchase an existing laundromat is that the startup costs are pretty large. Commercial washers and dryers are not cheap. It makes a lot more financial sense to purchase an already established laundromat than to start 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 have to have a significant facility, equipment, and someone to run the cage.
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So be certain 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 option.
Another way you can make passive income is by designing t-shirts and other goods even with no previous design abilities. Sites such as Redbubble permit you to upload your witty design ideas and then make t-shirts, coffee mugs, laptop covers, etc..
Shoppers then visit the site and check out your products. When they purchase one of your designs, Redbubble will pay you a portion of the profits. They handle all of 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 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 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 supply on a regular basis.
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Thousands of people every day are looking to rent any range of items. Craigslist can be a great place to promote your items for rent. Here are some ideas of products that you could rent out:
Just make sure you have a proper rental agreement signed by both parties. Also, get paid in money beforehand, and get a current photo ID and secondary evidence of address from renters.
This will allow you to protect the home youre renting out. For extra peace of mind, right here consider requesting a security deposit too.
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As you can see there are a ton of ways that you can earn passive income. With luck, this list has helped you narrow down which source of income is best for you.
So if youre tired of this traditional means of making money, implement some of the passive income strategies above so that you can begin working and making more money while you sleep today.
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From the smart notions like an online course to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about nearly every passive income flow there is.
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During this time the one thing I wanted more than anything else, was a big fat epic record of ALL the potential passive income flows there were.
Unfortunately no one has even till this day made a complete list. I spent the past week getting loaded on strong Ethiopian espresso and compiling every different income stream from my head, my notes and the net interwebs!
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Ie first you need to haul ass and do something crazy, eg compose 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 own iPhone every morning as sale after sale after sale is madeon an ongoing basis and without any additional effort.
As you can see passive income flows simply come from resources, and resources are bought with money (eg rental property) or in the event of most of the ideas under, bought through sweat (eg ebook)!