Not known Incorrect Statements About 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 that I wanted more freedom and the idea of passive income became very appealing.

I'd heard of many people quitting and replacing their fulltime job 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 per 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. Get Out of Debt5.  Open a High-Yield Account6. Write a Book7. Rent a Space in Your House8. Affiliate Marketing9. Create a Lead Generation Website10. Sell Products on Amazon11. Money Back Earnings With Benefits Shopping Sites12.  Create an Online Store using Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Purchase 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 ideal sources 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 find legit ways for you to earn money while you sleep using something that satisfies your passion, experience, or skill-set.

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Real estate can be a great way to generate money while you sleep. But since it costs a lot to purchase a house, 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 property, consider using a company like Fundrise.  You only need $500 to begin and you can invest in more than 48 property products through property investment trusts.

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

Even though they promote an option to start 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 goal is to produce real estate investing accessible to everyone and that's just what they're doing.

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Dividend income is money paid to shareholders of stocks in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for those wanting to make a living with passive income, since they'll get payouts each quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you're going to go this route, be sure you educate yourself my review here 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 additional 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 outcomes than a typical savings or money market account.

If you're looking for a lower risk option, check out Worthy. They provide $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.