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The reason why you would want to buy an existing laundromat is the startup costs are fairly large. Commercial washers and dryers are not cheap. It makes far more financial sense to buy 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 well-known sports for kids in the usa. Nonetheless batting cages are hard to come by depending on where you live.
Something to be aware of, however, is that these can require a lot of money up front. You will need to have a significant centre, 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 could possibly 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. Websites such as Redbubble permit you to upload your witty design ideas and then create t-shirts, coffee mugs, laptop covers, etc..
Shoppers then visit the website and check out your products. When they purchase one of the designs, Redbubble will pay you a portion of the profits. They handle all the production and shipping of merchandise.
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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.
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 good income source on a regular basis.
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Thousands of people daily are looking to rent any range of items. Craigslist can be a great place to advertise your items for rent. Here are some ideas of products that you could rent out:
Just make sure you have a proper rental agreement signed by both parties. Also, get paid in cash beforehand, and find a current photo ID and secondary evidence of address 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 that you can earn passive income. Hopefully, this list has helped you narrow down which source of income is most effective for you.
If youre tired of this traditional way of making money, implement a few of the passive income strategies above so you can begin working less and making more money as you sleep today.
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In the wise ideas like an online course to the dress-me-in-the-white-jacket ideas like writing articles for adsense, Ive thought about pretty much every passive income stream there is.
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During this period the one thing I wanted more than anything else, was a large fat epic list of ALL the possible passive income streams there were.
Unfortunately no one has even till this day made a complete list. So I spent the last week getting loaded on strong Ethiopian espresso and compiling every different income flow from my head, my notes and the net interwebs!
PS if you want to cut to the chase you can get access to 3 of my favorite passive income ideas 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 write 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 each morning as sale after sale after sale is madeon an link ongoing basis and without any additional work.
Because you can observe passive income flows simply come out of resources, and resources are either bought with money (eg rental property) or in the event of most of the ideas under, purchased through perspiration (eg ebook)!