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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 which I will mention below.

By choosing the right resources of passive income, you can invest your time the way which you want to. Passive income is a method of buying back more time.

There are many opportunities out there to create residual income in network marketing. However, this is NOT one of those shady things. These are legit ways for you to earn 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 so much to buy 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 property, 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 real estate investment trusts.

Another company to consider is Rich Uncles since you can begin investing in real estate with just as little as $5.

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Even though they promote an option to begin with $500, once you register free of charge you can browse their offerings. They actually 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 are doing.

Dividend income is money paid to shareholders of shares in the form of money in your bank account. Dividend-paying stocks are particularly enticing for those wanting to earn 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 are going to go this route, ensure 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 people 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 much higher 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 cover a 5% return. One unique thing about these is that your money is liquid, so you can take it out at anytime.

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This means if for some reason you need your money back, then you can access it quickly and easily.

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

One way to speed up your debt payoff is to lower your interest rate. If you have high-interest debt you want to find a lower interest rate on, have a look at 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 produce passive income Then consider 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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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 task of creating the publication is done, selling books can be a great method to create some severe residual income.

Once your book can Read More Here 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 vital. Evidently, the longer you spend marketing your books, 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 temporary 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 space 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.