10 Simple Techniques For Multiple Passive Income Streams

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

I had 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 start this site where I now make over $6,000 a month, however, 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 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.

Create YouTube Videos15.  Start a Business and Have Someone Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Create a Cell App19. Rent Your Car for Advertisement Space20. Buy an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Product Design24. Bond or CD Laddering25. Rent Your like it Own StuffSummary.

Passive income is where you get paid over and over again for work that you did once. I have multiple income streams that are passive, so many of which I shall mention below.

By choosing the ideal 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 make residual income in network marketing. However, this is NOT one of those shady things. These are legit ways for you to earn 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. However, since it costs a lot to purchase a house, using a crowdfunding system to invest in property can be a less expensive option.

If you want an easy, low-cost method to invest in income-producing commercial property, consider using a company like Fundrise.  You only need $500 to get started and you can invest in more than 48 property products through real estate investment trusts.

Another read this company to consider is Rich Uncles since you can start investing in real estate with as small as 5.

Although they promote an option to start with $500, once you enroll for free you can browse their offerings. They actually 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 are doing.

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Dividend income is money paid to investors of shares in the kind of cash in your bank account. Dividend-paying stocks are particularly enticing for those 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, make sure 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 other 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 look what i found much higher income results than a common savings or money market account.

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