Passive Income Streams for Beginners

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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 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 job with passive income, but I had no clue where to get started.

This pursuit led me to start this site where I now make over $6,000 a 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. Get Out of Debt5.  Open a High-Yield Account6. Write a Book7. Rent out a Room 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 using Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Run it16. Buy a Vending Machine Business17.  License Your Photos18. Produce a Mobile App19. Rent Your Car for Advertisement Space20. Purchase an Existing Online Business21. Purchase a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

Passive income is where you get paid over and over again for work that you did once. I've got multiple income streams which are passive, many of which I will mention below.

By choosing the right 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 many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of these shady things. These are legit means 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 generate money while you sleep. But because it costs so much to purchase a home, using a crowdfunding system 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 real estate, consider using a company like Fundrise.  You only need $500 to get started and you can invest in more than 48 real estate products through real estate 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 enroll 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 are doing.

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Dividend income is money paid to shareholders of shares in the kind of money in your bank account. Dividend-paying stocks are especially enticing for those wanting to earn a living with passive income, since they will get go to this site 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 certain 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 additional 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 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 pay a 5 percent return. One unique thing about them is that your money is liquid, which means you can take it out at anytime.