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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 which are passive, many of that I shall mention below.

By choosing the ideal sources of passive income, you can invest your time the way which you want to. Passive income is a method 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. These are legit ways 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 terrific way to generate money while you sleep. However, since it costs so much to buy a home, using a crowdfunding system to invest in real estate can be a less expensive 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 property investment trusts.

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

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Even though they promote an option to begin with $500, once you enroll for free you can browse 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 is exactly what they are doing.

Dividend income is money paid to shareholders of stocks 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, as they'll 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, make sure that you educate yourself and select solid stocks so you can depend on for dividend income for 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 3-8% range, investing money using 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, check out Worthy. They provide $10 bonds and cover a 5 percent return. One unique thing about them is that your money is liquid, which means you can take it out at anytime.

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

The money youre paying in interest to lenders, the more money you've got in your pocket every month. Talk about a very simple kind of passive income. Getting out of debt fast can increase your income even more because youre no longer paying interest to lenders every month.

One method to speed up your debt payoff is to lower your interest rate. If you've got high-interest debt you want to get a lower interest rate on, have a look at Credible, which features loan rates as low as 4.99% for refinancing your credit card debt.

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

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While this wont make you filthy rich, it'll 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 novels can be a excellent way to create some serious residual income.

Once your book is available on a website like Amazon, have a peek at these guys you can receive a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer 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 people use Airbnb to find somewhere to stay instead of staying in a resort, sometimes even for months at a time.

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