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

This pursuit led me to start this blog in which I now make over $6,000 per 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 out a Space in Your House8. Affiliate Marketing9. Produce a Lead Generation Website10. Sell Products on Amazon11. Money Back Earnings With Benefits Shopping Sites12.  Create an Online Store with Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Else Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Produce a Mobile App19. Rent Your Car for Advertisement Space20. Purchase an Existing Online Business21. Buy 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 that are passive, 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 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 earn money while you sleep using something that fits your passion, experience, or skill-set.

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Real estate can be a terrific way to generate money while you sleep. However, 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 property products through real estate investment trusts.

Another company to consider is Rich Uncles since you can start investing in real estate Clicking Here with just as little as 5.

Although they promote an option to begin with $500, once you register free of charge you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.

Their intention is to make real estate investing available to everyone and that's exactly what they are doing.

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Dividend income is money paid click site to investors of stocks in the kind of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to make a living with passive income, as they'll get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you're going to go this route, be certain that 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 other folks money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money using a company like Lending Club can get you much 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 pay a 5% return. One unique Passive Income Online thing about these is that your money is liquid, so that you can take it out at anytime.