The 10-Minute Rule 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 very 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 begin this site in which I now make over $6,000 per 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. Get Out of Debt5.  Open a High-Yield Account6. Compose a Book7. Rent a Space in Your House8. Affiliate Marketing9. Create a Lead Generation Website10. Sell Products on Amazon11. Money Back Earnings With Rewards Shopping Sites12.  Create an Online Store using Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Else Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Advertisement 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, so many of that I shall mention below.

By choosing the ideal resources of passive income, you go to website can invest your time the way that 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. These are legit ways 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. But because it costs so much to purchase a house, using a crowdfunding system to invest in real estate can be a less expensive 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 begin and you can invest in more than 48 imp source real estate products through real estate investment trusts.

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

Although they promote an option to start with $500, once you register for free you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.

Their intention is to make real estate investing accessible to everyone and that is just what they're 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 earn 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 sure that 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 other folks money who dont qualify for traditional view it financing. With investment returns in the 3-8percent range, investing money using a company like Lending Club can get you a lot higher income outcomes than a typical 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.