The smart Trick of Multiple Passive Income Streams That Nobody is Discussing

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

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

This pursuit led me to begin this blog where I now make over $6,000 a month, but 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. Get Out of Debt5.  Open a High-Yield Account6. Compose a Book7. Rent out a Room in Your House8. Affiliate Marketing9. Create a Lead Generation Website10. Sell Products on Amazon11. Cash Back Earnings With Rewards Shopping Sites12.  Create an Online Store with 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. Purchase an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Product Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

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

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

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

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Real estate can be a terrific way to generate money while you sleep. But because it costs a lot to buy a home, using a crowdfunding system to invest in real estate can be a less expensive option.

If you want an easy, low-cost method 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 real estate products through property investment trusts.

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

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

Their goal is to produce real estate investing available to everyone and that is exactly what they are doing.

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

If you are going to go this route, be certain you educate yourself and select solid stocks so you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you loan other people money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money using 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, have a look at Worthy. They provide $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, so you can take it out at anytime.