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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 which I will mention below.

By choosing the ideal sources 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 make residual income in network marketing. Nonetheless, this is NOT one of these 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 great way to make money while you sleep. However, since it costs a lot to purchase 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 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 start investing in real estate with as little as 5.

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Although they promote an option to begin with $500, once you register 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 make real estate investing accessible to everyone and that is just what they're doing.

Dividend income is money paid to investors of shares in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to make a living with passive income, since 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're going to go this route, make sure that you educate yourself and select 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 money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money with a company like Lending Club can get you much greater income outcomes 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% 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, you can get it quickly and easily.

The money youre paying in interest to creditors, the more money you have 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 every month.

One method to speed up your debt payoff would be to decrease your interest rate. If you've got high-interest debt that you want to find 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 way to make passive income Then consider opening a high-yield savings account with an online bank like CIT Bank that pays 19 times greater 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 produce some severe residual income.

Once your book is available on a website like Amazon, you can receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your publications, the more money youll make.

Have you got an extra room which you seldom use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of individuals use Airbnb to find a place to stay instead of staying at a resort, sometimes even for months at a time.

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You can hire a maid look at this site service to clean and prep the room after 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 spare bedrooms.