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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 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 many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. All these are legit means 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 great way to generate money while you sleep. But because it costs so much to purchase a house, using a crowdfunding platform to invest in property can be a less expensive 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 get started and you can invest in more than 48 property products through real estate investment trusts.

Another company to consider is Rich Uncles as you can begin investing in real estate with just as little as $5.

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Even though they promote an option to start with $500, once you enroll for free you can browse their offerings. They really have a Student Housing REIT that has a minimum investment of $5.

Their intention is to make real estate investing available to everyone and that's just what they're doing.

Dividend income is money paid to shareholders of stocks in the shape of cash in your bank account. Dividend-paying stocks are especially enticing for individuals 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 are going to go this route, make sure you educate yourself and pick solid stocks so that you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you loan other 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're looking for a lower risk option, have a look at Worthy. They provide $10 bonds and pay a 5 percent you could try these out return. One unique thing about these is that your money is liquid, which means you can more helpful hints take it out at anytime.

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This means if for some reason you need your money back, you can access it quickly and easily.

The money youre paying in interest to lenders, 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 lenders every month.

One way to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt that 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 produce 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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Although this top article 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 serious residual income.

Once your book can be found on a website like Amazon, you could receive a check every month for doing nothing. 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 excess room which you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of individuals 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 room following a suspect 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.