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The reason why you would want to purchase an existing laundromat is the startup costs are pretty high. 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'm shocked by the lack of batting cage facilities. Baseball is one of the most well-known sports for kids in America. Nonetheless batting cages are tough to come by depending on where you live.
Something to be aware of, though, is that these can require a good deal of money up front. You will need to have a significant facility, equipment, and someone to run the cage.
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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 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. 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 site and check out your products. When they purchase one of your 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 a number of different bonds and/or Certificates of Deposit. Each one develops at different times during the year. Then you simply 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 come with little to no risk. This can help ensure a solid 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 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 too.
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As you can see there are a ton of ways that 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 means 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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In the wise 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 flow 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 flows there were.
Unfortunately no one has even till this afternoon made an entire list. So I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my mind, 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 blog here thoughts 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 get 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 ongoing basis and without any additional work.
Because you can observe passive income streams simply come out of assets, and resources are either bought with money (eg rental property) or even in the event of most of the ideas under, bought through sweat (eg ebook)!