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I worked a traditional 9 to 5 job for many years and eventually I have burned out. Do you know what sounds like I knew that I wanted more freedom and the notion of passive income became very appealing.

I had heard of many people quitting and replacing their fulltime job with passive income, but I had no idea where to start.

This pursuit led me to start this blog where I now make over $6,000 per month, but this is not the only way to produce residual income.

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Table of ContentsWhat exactly is passive incomePassive Income Ideas1. Invest in Crowdfunded Real Estate2. Dividend Income3. Peer-to-Peer Lending4. Eliminate Debt5.  Open a High-Yield Account6. Compose a Book7. Rent out a Space in Your House8. Affiliate Marketing9. Produce a Lead Generation Website10. Sell Products on Amazon11. Money Back Earnings With Rewards Shopping Sites12.  Create an Online Store using Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Run it16. Buy a Vending Machine Business17.  License Your Photos18. Produce a Mobile App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Purchase visit this page a Laundromat22. Open a Batting Cage23. Product Design24. Bond or CD Laddering25. Rent Your StuffSummary.

Passive income is where you get paid over and over again for work which you did once. I have multiple income streams which are passive, many of that I will mention below.

By choosing the ideal sources of passive income, you can invest your time the way that you want to. Passive income is a way of buying back more time.

There are many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of those shady things. All these are legit ways for you to make money while you sleep with something that satisfies your passion, experience, or skill-set.

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Real estate can be a terrific way to make money while you sleep. But since it costs so much to buy a home, using a crowdfunding platform to invest in real estate can be a more affordable option.

If you want an easy, low-cost way to invest in income-producing commercial property, consider using a company like Fundrise.  You only need $500 to get started and you can invest in more than 48 property products through property investment trusts.

Another company to visit here consider is Rich Uncles since you can start investing in real estate with as small as 5.

Although they promote an option to start with $500, once you enroll free of charge you can browse their offerings. They really have a Student Housing REIT that has a minimum investment of $5.

Their goal is to make real estate investing accessible to everyone and that's just what they are doing.

How Multiple Passive Income Streams can Save You Time, Stress, and Money.

Dividend income is money paid to shareholders of stocks in the kind of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to make a living with passive income, since they will get payouts each quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you're going to go this route, make certain you educate yourself and pick solid stocks so that you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you discover here loan other people money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money with a company like Lending Club can get you much greater income outcomes than a typical savings or money market account.

If you're looking for a lower risk option, check out Worthy. They offer $10 bonds and cover a 5% return. One unique thing about these is that your money is liquid, so that you can take it out at anytime.