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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, many of that I will 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 create 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 with something that satisfies your passion, experience, or skill-set.

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Real estate can be a great way to generate money while you sleep. However, because it costs so much to buy a home, using a crowdfunding platform 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 get started and you can invest in more than 48 property products through property investment trusts.

Another company to consider is Rich Uncles since you can start investing in real estate with as little 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 produce real estate investing accessible to everyone and that's exactly what they are doing.

Dividend income is money paid to shareholders of stocks in the shape of cash in your bank account. Dividend-paying stocks are particularly enticing for those wanting to make 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 much higher income outcomes 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 cover a 5% return. One unique thing about them is that your money is liquid, so 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 less money youre paying in interest to creditors, the more money you have in your pocket every month. Talk about a very simple kind additional reading of passive income. Getting out of debt quickly can increase your income even go to these guys more because youre no longer paying interest to lenders each month.

One way to boost 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, 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 like 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'll be a safer way to create consistent income and not lose your money since CIT FDIC insured.

Once the initial task of creating the book is done, selling novels can be a great way to create some severe residual income.

Once your book is available on a site like Amazon, you could receive recommended you read a check each month for doing 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 make.

Have you got an excess room that you seldom 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 hotel, sometimes even for months at a time.

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You can hire a maid service to clean and prep the room following 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 per month renting out their bedrooms.