The Definitive Guide to 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. Do you know what sounds like that I knew I wanted more freedom and the idea of passive income became very appealing.

I had heard of many people quitting and replacing their full-time occupation with passive income, but I had no idea where to get started.

This pursuit led me to begin this site where I now make over $6,000 per month, however, 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. Compose a Book7. Rent out a Room 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 with Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Ad 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 have multiple income streams which are passive, so many of that I shall mention below.

By choosing the right resources of passive income, you can invest your time the way which you want to. Passive income is a method of buying back more time.

There are so many opportunities out there to create 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 fits your passion, experience, or skill-set.

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Real estate can be a great way to make money while you sleep. However, since it costs so much Going Here to buy a house, using a crowdfunding platform to invest in real estate can be a more affordable 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 begin and you can invest in more than 48 real estate products through real estate 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 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 produce real estate investing available to everyone and that's exactly what they are doing.

Not known Facts About Passive Income Streams

Dividend income is money paid to shareholders of stocks in the kind of money 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 my response of dividend-paying stocks. .

If you are going to go this route, make 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 additional people money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money using a company like Lending Club can get you a lot higher income results my explanation 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, which means that you can take it out at anytime.