Multiple Passive Income Streams Fundamentals Explained

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I labored a traditional 9 to 5 job for many years and eventually I got burned out. Would you know what that feels like 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 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 a 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. Compose a Book7. Rent a Space in Your House8. Affiliate Marketing9. Produce 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. Buy a Vending Machine Business17.  License Your Photos18. Produce 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 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, many of that I will 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. However, this is NOT one of these shady things. All these are legit means for you to make Look At This 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 generate money while you sleep. But because it costs a lot to purchase a house, using a crowdfunding platform to invest in property can be a less expensive option.

If you want an easy, low-cost way to invest in income-producing commercial property, 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 start investing in real estate with just as little as 5.

Although they promote an option to begin with $500, once you register free of charge you can navigate their offerings. They really 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's exactly what they're doing.

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Dividend income is money paid to investors of shares in the form of cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to earn a living 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, be certain you educate yourself and pick 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 3-8percent range, investing money with a company like Lending Club can get you a lot greater income results 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 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.