The Ultimate Guide To Multiple Passive Income Streams

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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 sounds 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 job with passive income, but I had no idea where to start.

This pursuit led me to begin this site where I now make over $6,000 per 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. Eliminate Debt5.  Open a High-Yield Account6. Write a Book7. Rent out 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.

Create YouTube Videos15.  Start a Business and Have Someone Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Produce a Mobile App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Purchase a Laundromat22. Open a Batting Cage23. Item 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 that I will mention below.

By choosing the ideal resources 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 means for you to earn money while you sleep using something that fits your passion, experience, or skill-set.

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Real estate can be a terrific way to make money while you sleep. But because it costs so much to buy a house, using a crowdfunding system to invest in property can be a less expensive 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 property products through property investment trusts.

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

Even though 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 which has a minimum investment of $5.

Their goal is to make real estate investing available to everyone and that's exactly what they are doing.

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Dividend income is money paid to shareholders of shares in the kind of cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to make a living with passive income, as they will get payouts each quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you are going to go this route, be sure you educate yourself and pick 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 with a company like Lending Club can get you a lot greater income outcomes than a common savings or money market account.

If you are looking for a lower risk option, have a look at Worthy. my response They provide $10 bonds and pay a 5% return. One unique thing about them is that your money is liquid, which means that you can take it out at anytime.