The Ultimate Guide To Passive Income Streams

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

I'd heard of many people quitting and replacing their fulltime occupation with passive income, but I had no idea where to get started.

This pursuit led me to begin this blog where 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. Get Out of Debt5.  Open a High-Yield Account6. Compose a Book7. Rent a Space in Your House8. Affiliate Marketing9. Create 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. Purchase 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. 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 have multiple income streams that 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 that you want to. Passive income is a way of buying back more time.

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

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Real estate can be a terrific way to generate money while you sleep. But since it costs a lot 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 start investing in real estate with just as small as 5.

Even though they promote an option to begin with $500, once you enroll free of charge you can browse 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 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 particularly enticing for individuals wanting to earn a living with passive income, as they will get payouts every quarter or so. Even Warren Buffet historically this website is a fan of dividend-paying stocks. .

If you are going to go this route, make sure you educate special info 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 3-8% range, investing money using a company like Lending Club can get you a lot greater income results than a common savings or money market account.

If you are 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 these is that your money is liquid, so you can take it out at anytime.