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Passive income is where you get paid over and over again for work that you did once. I have multiple income streams that are passive, many of that I shall mention below.

By choosing the ideal sources of passive income, you 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. Nonetheless, this is NOT one of those shady things. All these are legit means for you to make money while you sleep using 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. But 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 begin and you can invest in more than 48 property products through real estate investment trusts.

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

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Although they promote an option to start with $500, once you register for free you can navigate 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 just what they're doing.

Dividend income is money paid to investors of shares in the shape 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. .

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If you are going to go this route, ensure that you educate yourself and pick solid stocks so that 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 3-8percent range, investing money with a company like Lending Club can get you a lot higher income outcomes than a common savings or money market account.

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

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This means if for some reason you need your money back, you can access it quickly and easily.

The money youre paying in interest to lenders, the more money you have in your pocket every month. Talk about a simple kind of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to creditors every month.

One method to boost your debt payoff would be to lower your interest rate. In case you have high-interest debt that you want to find a lower interest rate on, check out Credible, which offers loan amounts as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk method to produce passive income Then consider opening a high-yield savings account with an online bank like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55percent which is unreal.

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While this wont make you filthy rich, it will be a safer way to create consistent income and not lose your money since CIT FDIC insured.

Once the initial work of creating the publication is done, selling books can be a excellent method to produce some severe residual income.

Once your book can be found on a website like Amazon, you Extra resources could receive a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the more time you spend marketing your publications, the more money youll earn.

Have you got an excess room which you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of individuals use Airbnb to find somewhere to stay instead of staying in a hotel, sometimes even for months at a time.

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You can hire a maid service to clean and prep the room after a guess leaves. This will eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 per month renting out their spare bedrooms.