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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 that are passive, so many of that I shall mention below.

By choosing the right sources of passive income, you can invest your time the way which 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 ways for you to make 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 generate money while you sleep. But because it costs so much to purchase a house, using a crowdfunding platform to invest in real estate can be a less expensive 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 since you can begin investing in real estate with just as small 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're doing.

Dividend income is money paid to investors 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, since they'll 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 you educate yourself and pick solid stocks so that you can depend on for dividend income for years to come.

Peer-to-peer lending is when you loan additional folks 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 greater income outcomes than a typical savings or money market account.

If you are looking for a lower risk option, have a look at Worthy. They provide $10 bonds and pay a 5% return. One unique thing about these is that your money is liquid, which means that you can take it out at anytime.

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This means if for any reason you need your money back, you are able to access it quickly and easily.

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

One way to speed up your debt payoff would be to decrease your interest rate. If you have high-interest debt you want to find a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk way to produce 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% which is 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 publication is done, selling books can be a check my blog excellent way to create some serious residual income.

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

Do you have an excess room that 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 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 per month renting out their bedrooms.