Starting a Successful Residual Income

Home based business.

Abdulbasit Naas

January 22, 2007

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There are a variety of ways anyone can create residual income. Some take more work than others, but the bottom line is that you can draw an income from doing work just one time. When compared to how most people earn money in working a typical job, called linear income, earning over and over for doing something once is well worth the initial effort.

Residual income is not just for those interested in marketing. In fact, there are so many opportunities to create residual income that anyone can find a way they like. MLM’s are not the first residual income opportunity. In fact, residual income has been around for a long time. The following list explains different ways to create residual income that have been around long before MLM‘s.

1. Try becoming part of the entertainment sector. Many people do not realize it but residual income opportunities are very prevalent in the main stream entertainment world. Many entertainment industry jobs are nothing but residual income. Write a book, act in a television show or record a record to make residual income. A person usually sells their product to a producer or publisher who in turn pays them every time someone buys, watches or hears their creation.

2. Cash in on what you already have. Oil wells are potential for enormous residual income. Let an oil company drill on your land, if they find oil you get a cut of their profits. Everyone knows what kind of money people in the oil business make, so why not take a chance. The best part is there is no work on your part at all. What better opportunity is there?

3. Get into real estate. Real estate is another big money maker. Many people have made their riches off buying property or land. Buy an apartment complex and get the residual income of monthly rent from tenants. Or buy a piece of land and let someone build there for a lot rent.

4. Invest money. Investments do not even have to be anything big. A person who owns a savings account is already earning residual income through interest. There are other accounts that pay out much larger percentages of interest. Stocks are another investment opportunity. Talk to an investment professional about it to get the best opportunities.

While these opportunities may seem like along shot, they are opportunities nonetheless. Many people have succeeded in these types of residual income opportunities. Anything is possible if a person has the drive and dedication. For those looking for something different, one of the above ideas is a great place to start to create residual income.