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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, so many of which I shall mention below.

By choosing the ideal 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 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 make money while you sleep. But because it costs a lot to purchase a home, using a crowdfunding platform 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 property products through real estate investment trusts.

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

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

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

Dividend income is money paid to shareholders of shares in the form of cash in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn a living with passive income, as they will 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 that you educate yourself and select 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 folks 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 higher income results than a common savings or money market account.

If you're looking for a lower risk option, check out Worthy. They provide $10 bonds and cover a 5% return. One unique thing about these 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 very simple form of passive income. Getting out of debt quickly can increase your income even more because youre no longer paying interest to lenders each month.

One method to speed up your debt payoff would be to lower your interest rate. In case you have high-interest debt you could try these out that you want to get a lower interest rate on, have a look at Credible, which features loan rates 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 i was reading this times more than traditional banks. CIT is currently are paying 1.55percent which is unreal.

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While 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 task of creating the publication is done, selling novels can be a great method to create some severe residual income.

Once your book can be found on a site like Amazon, you could receive a check every month for doing 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 make.

Have you got an excess room that 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 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 space following a guess 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.