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Passive income is where you get paid over and over again for work which you did once. I've got multiple income streams which are passive, so many of which 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 way 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 these 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 great way to generate money while you sleep. But since it costs so much to purchase a house, using a crowdfunding system 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 property, consider using a company like Fundrise.  You only need $500 to begin and you can invest in more than 48 real estate products through property 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 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 make real estate investing accessible to everyone and that is exactly what they are 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 earn a living with passive income, since 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, make sure that you educate yourself and pick 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 see page income outcomes than a typical savings or money market account.

If you're looking for a lower risk option, check out Worthy. They provide $10 bonds and pay 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 any reason you need your money back, then you can access it quickly and easily.

The money youre paying in navigate to this site interest to creditors, the more money you've got 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 creditors each month.

One method to speed up your debt payoff would be to decrease your interest rate. If you have high-interest debt that you want to get a lower interest rate on, check out Credible, which features 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 such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% which is 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 book is done, selling novels can be a excellent method to create some serious residual income.

Once your book can be found on a website like Amazon, you could get 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 make.

Do you have an extra 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 somewhere to stay instead of staying in a resort, 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 guess 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 spare bedrooms.