The Ultimate Guide To Passive Income Streams

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I worked a traditional 9 to 5 job for many years and eventually I got burned out. Do you know what sounds 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 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, but this is not the only way to make 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 Room 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 with 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 Ad Space20. Purchase an Existing Online Business21. Purchase a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your StuffSummary. go to my blog

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 which I shall 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 way of buying back more time.

There are many opportunities out there to create residual income in network marketing. However, this is NOT one of those shady things. These are legit ways for you to make money while you sleep with 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 because 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 real estate products through property investment trusts.

Another company to consider is Rich Uncles as 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 navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.

Their goal is to make real estate investing accessible to everyone and that's exactly what they're doing.

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Dividend income is money paid to shareholders of stocks in the kind of cash in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to make 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 are 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 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 a lot higher income results than a typical savings or money market account.

If you're looking for a lower risk option, check out Worthy. They offer $10 bonds and cover a 5 percent return. One unique thing about them is that your money is liquid, so you can take it out at anytime.