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The reason you would want to buy 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 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 your geographical area.
Something to be aware of, though, is that these can require a good deal of money up front. You will have to have a big 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 products even with no previous design skills. Sites such as Redbubble allow you to upload your witty design ideas and then make t-shirts, coffee mugs, notebook covers, etc..
Shoppers then stop by the site and check out your goods. When they buy one of the designs, Redbubble will pay you a portion of the profits. They handle all 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 develops at different times during the year. Then you simply take the profits from those investments as cash income during the year.
Although many CDs and bonds might not earn as much return as a Peer-to-Peer lending investment, bonds and CDs also generally come with little to no danger. This helps ensure a good income source on a regular basis.
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Thousands of people every day are looking to rent any range of things. Craigslist can be a great place to promote your items for rent. Here are some ideas of products You Could rent out:
Just make sure you have a proper rental agreement signed by both parties. Additionally, get paid in money beforehand, and find a current photo ID and secondary proof of speech from renters.
This will help you to guard the property youre renting out. For additional peace of mind, consider requesting a safety deposit as well.
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As you can see there are a ton of ways that you can make passive income. With luck, this list has helped you narrow down which source of income is most effective for you.
If youre tired of the traditional means of making money, implement try these out some of the passive income strategies above so that you can begin working less and making more money while you sleep now.
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In the smart ideas like an online path to the dress-me-in-the-white-jacket ideas like writing articles for adsense, Ive thought about nearly every passive income flow there is.
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During this period 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 afternoon made a complete list. So I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my head, my notes and the net interwebs!
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Ie first you need to haul ass and do something mad, eg compose a quality 20,000 word ebook (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 available after sale after sale is madeon an ongoing basis and without any additional effort.
As you can observe passive income flows simply come from assets, and assets are bought with money (eg rental property) or in the event of almost all of the ideas below, purchased through perspiration (eg ebook)!