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I worked a traditional 9 to 5 job for many years and eventually I got burned out. Do you know what sounds like I knew I wanted more freedom and the idea of passive income became very appealing.

I'd heard of many people quitting and replacing their fulltime occupation with passive income, but I had no clue where to start.

This pursuit led me to start this site 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. Write 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 Else Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Advertisement Space20. Buy 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've got multiple income streams that are passive, so many of which 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 browse around this site there to create residual income in network marketing. However, this is NOT one of those shady things. All these are legit ways for you to make money while you sleep with something that satisfies your passion, experience, or skill-set.

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Real estate can be a terrific way to make money while you sleep. However, because it costs a lot to purchase 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 property, 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 start investing in real estate with as small as 5.

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

Their intention is to make real estate investing available to everyone and that is 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 individuals wanting to earn a living with passive income, since they will 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 certain 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 much greater income results than a common 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 percent return. One unique thing about these is that your money is liquid, so that you can take it out at anytime.