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. Do you know what that feels like I knew I wanted more freedom and the idea of passive income became really appealing.

I'd 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 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. Cash 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. Buy an Existing Online Business21. Purchase 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 that are passive, so many of that I shall 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 so many opportunities out there to make residual income in network marketing. However, this is NOT one of these shady things. These are legit ways for you to earn money while you sleep with something that satisfies your passion, experience, or skill-set.

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Real estate can be a great way to generate money while you sleep. However, because it costs a lot to buy a home, using a crowdfunding system to invest in property can be a less expensive option.

If you want an easy, low-cost way to this content 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 property investment trusts.

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

Even though they promote an option to start with $500, once you enroll free of charge you can browse their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.

Their intention is to make real estate investing accessible to everyone and that's exactly 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 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, make sure 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 important source 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 results than a typical savings or money market account.

If you're 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 is that your money is liquid, which means that you can take it out at anytime.