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I worked a traditional 9 to 5 job for many years and eventually I have burned out. Do 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 fulltime job with passive income, but I had no clue where to get started.

This pursuit led me to begin this blog 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 Room 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.

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. Purchase an Existing Online Business21. Buy 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 which 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 many opportunities out there to create residual income in network marketing. Nonetheless, this is NOT one of these shady things. All these are legit means for you to make money while you sleep using something that fits your passion, why not check here experience, or skill-set.

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Real estate can be a great way to make money while you sleep. However, because it costs so much to buy a home, using a crowdfunding platform to invest in real estate can be a more affordable 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 get started and you can invest in more than 48 real estate products through real estate investment trusts.

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

Even though they promote an option to begin with $500, once you register for free you can browse 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.

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Dividend income is money paid to shareholders of stocks in the kind of money 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 every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you are going to go this route, be certain 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 other folks link money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money with a my company company like Lending Club can get you much 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 offer $10 bonds and pay a 5 percent return. One unique thing about these is that your money is liquid, which means you can take it out at anytime.