The Of Multiple Passive Income Streams

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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 that feels like I knew that 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 get started.

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 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 with Drop Shipping13.

Produce 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. 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've got multiple income streams which are passive, many of that I will mention below.

By choosing the right resources of passive income, you can invest your time the way that 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. Nonetheless, this is NOT one of these shady things. All these are legit ways for you to earn money while you sleep using something that satisfies your passion, experience, or skill-set.

Not known Facts About Multiple Passive Income Streams

Real estate can be a great way to generate money while you sleep. But because it costs a lot to purchase a home, using a crowdfunding system 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 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 property investment trusts.

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

Even though they promote an option to start with $500, once you enroll for free you can navigate their offerings. They really have a Student Housing REIT that 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 investors of stocks in the form of cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to earn a living with passive income, since they will get payouts each quarter or so. Even Warren Buffet historically is a description fan of dividend-paying stocks. .

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

Peer-to-peer lending is when you loan additional people money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money using a company like Lending Club can get you much greater 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 offer $10 bonds and pay a 5% return. One unique thing about them is that your money is liquid, so you can take it out at anytime.