The Single Strategy To Use For Multiple Passive Income Streams

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I labored a traditional 9 to 5 job for many years and eventually I got burned out. Do you know what that feels like that 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 occupation with passive income, but I had no clue where to get started.

This pursuit led me to begin this site where I now make over $6,000 a 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. Get Out of Debt5.  Open a High-Yield Account6. Compose a Book7. Rent a Space 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. Purchase a navigate to these guys Vending Machine Business17.  License Your Photos18. Create a Cell 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 which are passive, 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 so many opportunities out there to make residual income in network marketing. However, this is NOT one of those shady things. All these are legit means 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 terrific way to make money while you sleep. However, since it costs a lot to purchase a home, using a crowdfunding platform 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 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 property investment trusts.

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

Although they promote an option to start with $500, once you register free of charge 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 exactly what they are doing.

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Dividend income is money paid to investors of stocks in the form of cash in your bank account. Dividend-paying stocks are particularly 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 that you can depend on for dividend income for years to come.

Peer-to-peer lending is when you loan additional folks money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money with a company like Lending Club can get you a lot greater income results than a common savings or money market account.

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