The Best Strategy To Use For Multiple Passive Income Streams

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I labored 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 notion of passive income became very appealing.

I had heard of many people quitting and replacing their fulltime job with passive income, but I had no clue where to get started.

This pursuit led me to start this blog in which I now make over $6,000 a month, but this is not the only way to make 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. Compose a Book7. Rent out a Room in Your House8. Affiliate Marketing9. Create a Lead Generation Website10. Sell Products on Amazon11. Money Back Earnings With Rewards Shopping Sites12.  Create an Online Store with Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Else Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Produce a Cell App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Purchase a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

Passive income is where you i thought about this get paid over and get more over again for work that you did once. I have multiple income streams which are passive, so many of which I will 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 method of buying back more time.

There are so many opportunities out there to make residual income in network marketing. However, this is NOT one of those shady things. All these are legit ways for you to earn money while you sleep with something that fits your passion, experience, or skill-set.

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Real estate can be a terrific way to make money while you sleep. But since it costs a lot to purchase a house, using a crowdfunding system to invest in real estate 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 since you can start investing in real estate with as little as $5.

Although they promote an option to start with $500, once you register for free 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 accessible to everyone and that's just what they're doing.

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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'll get payouts every 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 pick 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 click for more 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 results than a common savings or money market account.

If you're looking for a lower risk option, check out Worthy. They offer $10 bonds and cover a 5 percent return. One unique thing about these is that your money is liquid, so you can take it out at anytime.