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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, many of that I shall 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 method of buying back more time.

There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of those 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 terrific way to generate money while you sleep. However, since it costs a lot to purchase a house, using a crowdfunding platform to invest in real estate can be a more affordable option.

If you want an easy, low-cost way to invest in income-producing commercial real estate, consider using a company like Fundrise.  You only need $500 to begin 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 small as 5.

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Even though 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 exactly what they are doing.

Dividend income is money paid to investors of shares in the shape of cash in your bank account. Dividend-paying stocks are particularly enticing for those 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're going to go this route, ensure 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 other folks 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 a lot 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 percent return. One unique thing about them 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 money youre paying in interest to creditors, the more money you've got in your pocket every month. Talk about a simple form of passive income. Getting out of debt fast can increase your income even more because youre no longer paying interest to creditors every month.

One method to speed up your debt payoff is to lower your interest rate. In case you have high-interest debt that you want to find a lower interest rate on, check out 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 make passive income Then look at opening a high-yield savings account with an you could try these out online bank such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55percent that's unreal.

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Although 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 books can be a excellent method to create some serious residual income.

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

Have you got an extra room which you seldom use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of people 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 after 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 bedrooms.