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The reason 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 buy 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 well-known sports for kids in America. Yet batting cages are tough to come by depending on your geographical area.
Something to be aware of, though, is that these can require a good deal of money up front. You'll need to have a significant facility, equipment, and someone to run the crate.
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So make 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 prior design abilities. Sites such as Redbubble allow you to upload your witty design ideas and then make t-shirts, coffee mugs, notebook covers, etc..
Shoppers then visit the website and check out your goods. 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. Every one develops at different times during the year. Then you 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 solid 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 thoughts of products You Could rent out:
Just ensure 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 speech from renters.
This will allow you to protect the property youre renting out. For additional 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 earn passive income. Hopefully, this list has helped you narrow down which source of income is best for you.
If youre tired of the traditional way of making money, implement a few of the passive income strategies above so that you can begin working less and making more money as you sleep today.
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In the smart notions like an online course to the click to read dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about pretty much 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 list of ALL the possible passive income flows there were.
Unfortunately no one has even until this day made an entire list. So I spent the past week getting loaded on strong Ethiopian espresso and compiling every different income flow from my head, my notes and the world wide interwebs!
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Ie first you need to haul ass and do something mad, 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 iPhone every 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 out of assets, and assets are bought with money (eg rental property) or even in the case a fantastic read of almost all of the ideas below, bought through sweat (eg ebook)!