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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 sounds like I knew that I wanted more freedom and the idea 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 begin this blog 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 out a Space in Your House8. Affiliate Marketing9. Create a Lead Generation Website10. Sell Products on Amazon11. Cash Back Earnings With Rewards Shopping Sites12.  Create an Online Store with Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Cell 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 which are passive, many of which I shall 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. These are legit means for you to earn money while you sleep with 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 because it costs so much to buy more info here 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 begin and you can invest in more than 48 property products through real estate investment trusts.

Another company to consider is Rich Uncles since you can begin 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 browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.

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

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Dividend income is money paid to investors of stocks in the kind of cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to make a living with passive income, since they will get payouts every quarter or so. Even Warren Buffet historically is a right here fan of dividend-paying stocks. .

If you're going to go this route, make certain you educate yourself and pick solid stocks you could try here 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 greater income outcomes than a typical savings or money market account.

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