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I labored a traditional 9 to 5 job for many years and eventually I got burned out. Do 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 idea where to get started.

This pursuit led me to start this site in which I now make over $6,000 per month, however, 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. Cash 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 Advertisement Space20. Buy an Existing Online Business21. Purchase 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 which are passive, so many of that I will 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 method of buying back more time.

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

8 Simple Techniques For Passive Income Streams

Real estate can be a terrific way to generate money while you sleep. However, 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 get started and you can invest in more than 48 real estate products through real estate 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 begin with $500, once you enroll for free you can browse their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.

Their goal is to make real estate investing available 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 form of money in your bank account. Dividend-paying stocks are particularly enticing for those 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, be sure 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 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 a lot higher income outcomes than a typical savings or money market account.

If you are looking for a lower risk option, check out Worthy. They provide $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, which means you can take it out at anytime.