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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 which I will mention below.

By choosing the ideal resources 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 create residual income in network marketing. Nonetheless, this is NOT one of those shady things. These are legit means for you to make 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 make money while you sleep. However, because it costs a lot to buy a house, using a crowdfunding platform to invest in property can be a more affordable 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 free of charge you can navigate their offerings. They really 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 shares in the form of cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to make a living with passive income, as they will get payouts each quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

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If you're going to go this route, ensure you educate yourself and select solid stocks so you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you loan additional people 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 results than a typical savings or money market account.

If you are 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.

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This means if for any reason you need your money back, then you are able to get it quickly and easily.

The money youre paying in interest to creditors, the more money you have in your pocket each month. Talk about a simple kind of passive income. Getting out of debt fast can increase your income even more since youre no longer paying interest to creditors each month.

One way to speed up your debt payoff would be to decrease your interest rate. In case you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which offers 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 look at opening a high-yield savings account with an online bank like CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent that's unreal.

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While this wont make you filthy rich, it'll be a safer way to make consistent income and not lose your money since CIT FDIC insured.

Once the initial work of creating the publication is done, selling books can be a excellent way to create some severe residual income.

Once your book is available on a website like Amazon, you could get a check each month for doing absolutely nothing. see this website Note that spending some time developing an effective marketing plan is essential. Obviously, the more time you spend marketing your books, the more money youll make.

Have you got an extra room which you seldom use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of people use Airbnb to find somewhere to stay instead of staying at a hotel, 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 suspect leaves. This may eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 per month renting out their bedrooms.