The smart Trick of Passive Income Online That Nobody is Talking About

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

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

This pursuit led me to start this site where I now make over $6,000 a 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.

Produce YouTube Videos15.  Start a Business and Have Someone Else Run it16. Purchase 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.

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 ideal sources of passive income, you can invest your time the way which 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. However, this is NOT one of those shady things. All these are legit ways for you to make money while you sleep using something that fits 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 buy a house, using a crowdfunding platform to invest in property can be a less expensive 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 this article 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.

Even though they promote an option to begin with $500, once you register free of charge 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 is just what they are doing.

Passive Income Streams Things To Know Before You Buy

Dividend income is money paid to shareholders of shares in the kind of cash in your bank account. Dividend-paying stocks are particularly additional resources enticing for individuals wanting to earn 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're going to go this route, make sure you educate 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 other people money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money with a company like Lending Club can get you much 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 provide $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, so you can take it out at anytime.