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Passive income is where you get paid over and over again for work that you did once. I've got multiple income streams which are passive, so many of that I shall 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. Nonetheless, 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 terrific way to generate money while you sleep. However, since it costs so much to buy a home, using a crowdfunding system to invest in property can be a less expensive 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 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 small as 5.

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Even though they promote an option to start with $500, once you register free of charge 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're doing.

Dividend income is money paid to shareholders of stocks 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, 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're going to go this route, ensure that you educate yourself and pick solid stocks so that you can depend on for dividend income for 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 3-8percent range, investing money with a company like Lending Club can get you a lot greater income outcomes 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, 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 get it quickly and easily.

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

One method to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt you want to find a lower interest rate on, have a look at Credible, which offers 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 make consistent income and not lose your money since CIT FDIC insured.

Once the initial work of creating the book is done, selling novels can be a excellent way to create some serious residual income.

Once your book can be found on a site like Amazon, you could get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your this publications, the more money youll make.

Have you got an excess 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 resort, 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 suspect 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 spare bedrooms.