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

By choosing the right 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 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 means for you to make money while you sleep using 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. However, because it costs so much to purchase a home, using a crowdfunding system to invest in real estate can be a more affordable option.

If you want an easy, low-cost method 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 real estate products through property investment trusts.

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

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

Their goal is to make real estate investing accessible to everyone and that is just what they're doing.

Dividend income is money paid to shareholders of stocks in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for those 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 are 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 to come.

Peer-to-peer lending is when you loan other people money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money using a company like Lending Club can get you much 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 pay a 5% return. One unique thing about these is that your money is liquid, which means 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 less money youre paying in interest to lenders, the more money you've got in your pocket each month. Talk about a simple kind of passive income. Getting out of debt fast can increase your income even more since youre no longer paying interest to lenders each month.

One way to boost your debt payoff is to lower your interest rate. If you've got high-interest debt 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 method 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 1.55% that's 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 work of creating the book is done, selling novels can be a great method to create some severe residual income.

Once your book is available on a site like Amazon, you can get a check every month for doing absolutely 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 which you seldom use Why not rent it out to someone looking for content a short-term rental on Airbnb.  Millions of individuals use Airbnb to find somewhere 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 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.