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The reason why you would want to buy an existing laundromat is the startup costs are pretty high. 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 kids in America. Yet batting cages are tough to come by depending on your geographical area.
Something to know about, though, is that these can need 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 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 choice.
Another way you can make passive income is by designing t-shirts and other products even with no previous design skills. Websites such as Redbubble allow you to upload your witty design ideas and then make t-shirts, coffee mugs, laptop covers, etc..
Shoppers then stop by the website and check out your goods. When they buy one of the designs, Redbubble will pay you a portion of the gains. They handle all the production and shipping of products.
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Bond and CD laddering involves owning a number of different bonds and/or Certificates of Deposit. Each 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 arrive with little to no danger. This helps ensure a solid income source 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 ideas of products You Could rent out:
Just ensure that 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 speech from renters.
This can allow you to guard the home 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 make passive income. Hopefully, this list has helped you narrow down which source of income is best for you.
So if youre tired of this traditional way of making money, implement a few of the passive income strategies above so that you can start working less and making more money while you sleep now.
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From the smart ideas 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 stream there is.
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During this time 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. I spent the past week getting loaded on strong Ethiopian espresso and compiling every different income flow from my head, my notes and the net interwebs!
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Ie first you need to haul ass and do something mad, eg write a quality 20,000 word blossom (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 available after sale after sale is madeon an ongoing basis and without any additional work.
Because you can observe passive income streams simply come from resources, and resources are either bought with money (eg rental property) or in the event of almost all of the ideas below, bought through perspiration (eg ebook)!