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I labored 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 very appealing.

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

This pursuit led me to start this site where I now make over $6,000 a 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. Write a Book7. Rent out a Room 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 Else Run it16. Buy a Vending Machine Business17.  License Your Photos18. Produce a Cell App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Buy 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 click to read for work which you did once. I've got multiple income streams which are passive, many of which I shall mention below.

By choosing the ideal resources 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 create residual income in network marketing. Nonetheless, this is NOT one of those shady things. These are legit ways for you to earn money while you sleep using something that fits 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 house, using a crowdfunding system to invest in property can be a more affordable option.

If you want an easy, low-cost way to invest in income-producing commercial real estate, 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 see here now as you can begin investing in real estate with as little as 5.

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

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

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Dividend income is money paid to shareholders of shares 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, as they will get payouts every 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 that you can depend on for dividend income for many 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 3-8% range, investing money with a company like Lending Club can get you much greater income outcomes than a common savings or money market account.

If you're looking for a lower risk option, have a look at Worthy. They offer $10 bonds and pay a 5 percent return. One unique thing about them is that your money is liquid, which means that you can take it out at anytime.