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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 that are passive, 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 these shady things. These are legit ways for you to earn money while you sleep using 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, since it costs so much to purchase a house, using a crowdfunding system to invest in property can be a less expensive option.

If you want an easy, low-cost method 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 since you can begin investing in real estate with just as little as $5.

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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 that has a minimum investment of $5.

Their intention is to produce real estate investing accessible to everyone and that's just what they are doing.

Dividend income is money paid to shareholders of shares in the shape of money in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to earn a living with passive income, since they'll get payouts every 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 pick solid stocks so that you can depend on for dividend income for many years Clicking Here 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 with a company like Lending Club can get you a lot higher income outcomes than a typical savings or money market account.

If you are looking for a lower risk option, check out 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 some reason you need your money back, then you are able to access it quickly and easily.

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

One method to speed up your debt payoff would be to lower your interest rate. If you have high-interest debt you want to get a lower interest rate on, check out Credible, which features loan amounts 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 such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% that's unreal.

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

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

Once your book is available on a site like Amazon, you could get 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 earn.

Have you got an extra room which you rarely 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 at a resort, sometimes even for months at a time.

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