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I labored a traditional 9 to 5 job for many years and eventually I got burned out. Would you know what sounds like I knew 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 start.

This pursuit led me to begin this site in which I now make over $6,000 a 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. Write a Book7. Rent out 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.

Create 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. Product 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, so many of which I shall mention below.

By choosing the right sources 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 make residual income in network marketing. Nonetheless, this is NOT one of those shady things. All these are legit ways for you to make money while you sleep using something that satisfies your passion, experience, or skill-set.

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Real estate can be a terrific way to generate money while you could check here you sleep. But since it costs so much to purchase a house, using a crowdfunding platform to invest in property can be a less expensive option.

If you want an easy, low-cost method 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 property investment trusts.

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

Although 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 available to everyone and that's just what they're doing.

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

If you're going to go this route, be certain that you educate yourself 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 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% return. One unique thing about them is that your money is liquid, so that you can take it out at anytime.