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I labored a traditional 9 to 5 job for many years and eventually I have burned out. Do you know what that feels like I knew I wanted more freedom and the idea 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 in which I now make over $6,000 per 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. 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 Benefits Shopping Sites12.  Create an Online Store with Drop Shipping13.

Produce 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. Purchase an Existing Online Business21. Purchase a Laundromat22. Open a Batting Cage23. Product Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

Passive income is where you get paid over and over again for work which you did once. I've got multiple income streams that are passive, look at this now so many of that I shall 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. However, this is NOT one of these shady things. All these are legit means 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 terrific way to make money while you sleep. But because it costs over at this website so much to purchase a home, using a crowdfunding system to invest in property 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 begin and you can invest in more than 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.

Although they promote an option to begin with $500, once you register for free you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.

Their goal is to produce real estate investing available to everyone and that is just what they are doing.

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Dividend income is money paid to investors of shares in the form of money in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn a living look at this now with passive income, since they'll get payouts each 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 select solid stocks so you can depend on for dividend income for years to come.

Peer-to-peer lending is when you loan other folks 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 a lot higher income results than a typical savings or money market account.

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