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Passive income is where you get paid over and over again for work that you did once. I've got multiple income streams that are passive, so many of that I shall mention below.

By choosing the ideal resources 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 many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of those shady things. All these are legit ways 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 great way to generate money while you sleep. But because it costs so much to purchase a house, using a crowdfunding system to invest in property can be a more affordable 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 begin 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 begin investing in real estate with just as little as 5.

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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 goal is to make real estate investing available to everyone and that is just what they are doing.

Dividend income is money paid to investors of stocks in the form of money in your bank account. Dividend-paying stocks are particularly enticing for those wanting to earn 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, make sure that you educate yourself and pick solid stocks so that you can depend on for dividend income for 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 higher 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 offer $10 bonds and cover a 5% return. One unique thing about these is that your money is liquid, so 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 less money youre paying in interest to lenders, the more money you've got in your pocket each month. Talk about a very simple form of passive income. Getting out of debt fast can increase your income even more because youre no longer paying interest to creditors each month.

One method to speed up your debt payoff would be to decrease your interest rate. In official site case you've got high-interest debt that you want to find a lower interest rate on, have a look at Credible, which offers loan amounts as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk way to produce passive income Then look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent which is unreal.

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

Once the initial task of creating the book is done, selling books can be a excellent method to produce some severe residual income.

Once your book can be found on a website like Amazon, you can receive a check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the more time you spend marketing your books, the more money youll earn.

Do you have an extra room that you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of people use Airbnb to find a place 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 room after a guess leaves. This will 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.