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The reason you would want to purchase an existing laundromat is the startup costs are fairly high. Commercial washers and dryers are not cheap. It makes far more financial sense to buy 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 America. Yet batting cages are hard 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 need to have a significant facility, equipment, and someone to run the cage.
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So be 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 option.
Another way you can make passive income is by designing t-shirts and other goods even with no previous design abilities. Sites like Redbubble permit you to upload your witty design ideas and then make t-shirts, coffee mugs, notebook covers, etc..
Shoppers then visit the site and check out your goods. When they buy one of your designs, Redbubble will pay you a portion of the gains. They handle all of the production and shipping of merchandise.
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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 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 arrive with little to no danger. This helps 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 things. Craigslist can be a wonderful place to promote your items for rent. Here are some thoughts of products that you could rent out:
Just make sure that you have a proper rental agreement over at this website signed by both parties. Also, get paid in cash beforehand, and find 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 too.
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As you can see there are a ton of ways that you can earn passive income. With luck, this record has helped you narrow down which source of income is most effective for you.
If youre tired of this traditional means of making money, implement some of the passive income approaches above so that you can start working and making more money while you sleep now.
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In the wise ideas like an online course to the 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 large fat epic record of ALL the possible passive income streams there were.
Unfortunately no one has even till this afternoon made a complete list. So I spent the past week getting loaded on strong Ethiopian espresso and compiling every different income stream from my head, my notes and the important site 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 iPhone each morning available after sale after sale is madeon an ongoing basis and without any additional work.
Because you can see passive income flows simply come out of assets, and resources are either bought with money (eg rental property) or even in the case of most of the ideas under, bought through perspiration (eg ebook)!