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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 affordable. It makes a lot more financial sense to purchase an already established laundromat than to start from scratch.
I am shocked by the lack of batting cage facilities. Baseball is one of the most popular sports for kids in the usa. Yet batting cages are tough to come by depending on where you live.
Something to know about, however, is that these can require a good deal of money up front. You will need to have a big facility, equipment, and someone to run the cage.
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So be sure 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 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 website and take a look at your products. When they purchase one of the designs, Redbubble will pay you a portion of the gains. They handle all of 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. Every one develops at different times during the year. Then you simply take the profits from these investments as cash income during the year.
Though many CDs and bonds might 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 helps ensure a solid 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 advertise your items for rent. Here are some thoughts of products that 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 address from renters.
This can allow you to protect the property 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 which you can make passive income. With luck, this record has helped you narrow down which source of income is most effective for you.
So if youre tired of the traditional way of making money, implement some of the passive income approaches above so that you can begin working less and making more money as you sleep now.
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From the smart ideas like an online path to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about pretty much every passive income stream there's.
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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 till this day made an entire list. So I useful content spent the last week getting loaded on strong Ethiopian espresso and compiling every different income stream from my hop over to these guys mind, my notes and the net interwebs!
PS if you want to cut to the chase you can get access to 3 of my preferred passive income ideas right here or you can check out 30 of my favorite real-life passive income businesses here.
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Ie first you need to haul ass and do something mad, eg compose a quality 20,000 word blossom (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 as sale after sale after sale is madeon an ongoing basis and without any additional effort.
As you can see 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 under, bought through sweat (eg ebook)!