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

I'd heard of many people quitting and replacing their full-time occupation with passive income, but I had no clue where to start.

This pursuit led me to start this blog where I now make over $6,000 per month, however, this is not the only way to make 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. Write a Book7. Rent a Space in Your House8. Affiliate Marketing9. Produce a Lead Generation Website10. Sell Products on Amazon11. Cash Back Earnings With Rewards Shopping Sites12.  Create an Online Store using Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Else Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Advertisement Space20. Buy an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

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

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

There are so many description opportunities out there to make residual income in network marketing. However, this is NOT one of these shady things. All these are legit means for you to make money while you sleep using something that fits your passion, experience, or skill-set.

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Real estate can be a great way to make money while you sleep. However, because it costs so much to purchase a house, using a crowdfunding system to invest in property can be a Going Here 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 begin and you can invest in more than 48 property products through real estate investment trusts.

Another company to consider is Rich Uncles since you can begin investing in real estate with just as little as 5.

Even though they promote an option to begin with $500, once you register free of charge you can navigate their offerings. They really have a Student Housing REIT which has a minimum investment of $5.

Their intention is to make real estate investing available to everyone and that is just what they are doing.

Unknown Facts About Multiple Passive Income Streams

Dividend income is money paid to investors of stocks in the kind of cash in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn 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 that you educate yourself and pick solid stocks so you can depend on for dividend income for years to come.

Peer-to-peer lending is when you loan additional folks money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money with a company like Lending Club can get you a lot higher income results than a common 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 percent return. One unique thing about these is that your money is liquid, so you can take it out at anytime.