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The reason you would want to purchase an existing laundromat is that the startup costs are fairly large. Commercial washers and dryers are not cheap. It makes a lot more financial sense to purchase 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 the usa. Nonetheless batting cages are tough to come by depending on where you live.
Something to be aware of, though, is that these can need a good deal of money up front. You'll have to have a significant facility, equipment, and someone to run the cage.
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So make 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 products even with no previous design skills. Sites like Redbubble permit you to upload your witty design ideas and then make t-shirts, coffee mugs, notebook covers, etc..
Shoppers then stop by the site and check out your products. When they purchase one of the 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 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 good income source on a regular basis.
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Thousands of people every day are looking to rent any range of things. Craigslist can be a great place to promote your items for rent. Here are some thoughts 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 proof of address from renters.
This will help you to protect 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 that you can earn passive income. With luck, this list has helped you narrow down which source of income is most effective for you.
So if youre tired of the traditional means of making money, implement some of the passive income strategies above so that you can begin working less and making more money as you sleep now.
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In the wise notions like an online path to the dress-me-in-the-white-jacket notions 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 large fat epic list of all of the possible passive income flows there were.
Unfortunately no one has even till this afternoon made a complete list. So I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my mind, 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 have to sit back and enjoy seeing PayPal sale messages pop up on your own iPhone every morning available after sale after sale is madeon an ongoing basis and without any additional effort.
As you can observe passive income streams simply come out of assets, and assets are bought with money (eg rental property) or even in the case of almost all of the ideas below, purchased through sweat (eg visit our website ebook)!