The Main Principles Of Passive Income Streams

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I labored a traditional 9 to 5 job for many years and eventually I got burned out. Do you know what sounds like I knew I wanted more freedom and the idea of passive income became very appealing.

I had heard of many people quitting and replacing their full-time job with passive income, but I had no clue where to start.

This pursuit led me to begin this blog where I now make over $6,000 a month, but this is not the only way to make residual income.

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Table of ContentsWhat exactly is passive incomePassive Income Ideas1. Invest in Crowdfunded Real Estate2. Dividend Income3. Peer-to-Peer Lending4. Eliminate Debt5.  Open a High-Yield Account6. Write a Book7. Rent a Room in Your House8. Affiliate Marketing9. Produce a Lead Generation Website10. Sell Products on Amazon11. Cash Back Earnings With Benefits Shopping Sites12.  Create an Online Store using Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Else Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Cell App19. Rent Your Car for Ad Space20. Buy an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

Passive income is where you get paid over and over again for work which you did once. I've got multiple income streams that are passive, many of which 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 many opportunities out there to make residual income in network marketing. However, this is NOT one of those shady things. All these are legit ways for you to earn money while you sleep using something that fits your passion, experience, or skill-set.

Examine This Report on Multiple Passive Income Streams

Real estate can be a great way to make money while you sleep. But since it costs a lot to buy a house, using a crowdfunding system to invest in property 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 begin and you can invest in more than 48 real estate products through real estate investment trusts.

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

Although they promote an option to start with $500, once you register for free you can browse their offerings. They really have a Student Housing REIT that 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.

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Dividend income is money paid to investors of shares in the kind of money in your bank account. Dividend-paying stocks are especially enticing for those wanting to make a living with passive income, as they'll get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you're going to go this route, be certain you educate yourself and select solid stocks so you can his comment is here 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 3-8percent range, investing money with a company like Lending Club can get you much higher income results than a typical savings or money market account.

If you are looking for a lower risk option, check out 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.