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The reason why you would want to purchase an existing laundromat is the startup costs are fairly high. Commercial washers and dryers are not cheap. It makes a lot more financial sense to purchase 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 children in America. 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'll have to have a significant centre, equipment, and someone to run the crate.
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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 goods even with no previous design skills. Websites like 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 products. When they buy one of the designs, Redbubble will pay you a portion of the profits. 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. Each one matures at different times during the year. Then you take the profits from these investments as cash income during the year.
Although 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 can help ensure a solid income source on a regular basis.
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Thousands of people daily are looking to rent any variety of things. Craigslist can be a great place to promote your items for rent. Here are some thoughts of products You Could rent out:
Just ensure you have a proper rental agreement signed by both parties. Additionally, get paid in cash beforehand, and get a current photo ID and secondary evidence of speech from renters.
This will allow you to guard the home 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 earn 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 approaches above so you can begin working and making more money as you sleep today.
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In the smart ideas like an online course to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about nearly every passive income stream there is.
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During this time the one thing I wanted more than anything else, was a big fat epic list of all of the possible passive income flows there were.
Unfortunately no one has even until this day made an entire list. I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my mind, check my site 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 ebook (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your iPhone every morning available after sale after sale is madeon an ongoing basis and without any additional work.
Because you can see passive income streams simply come out of resources, and assets are bought with money (eg rental property) or even in the event of most of the ideas below, see purchased through perspiration (eg ebook)!