The Main Principles Of Passive Income Streams

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I worked a traditional 9 to 5 job for many years and eventually I have burned out. Do you know what that feels like that I knew I wanted more freedom and the notion of passive income became very appealing.

I'd heard of many people quitting and replacing their fulltime job with passive income, but I had no idea where to start.

This pursuit led me to start this site where I now make over $6,000 per month, however, this is not the only way to produce 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 Space in Your House8. Affiliate Marketing9. Produce a Lead Generation Website10. Sell Products on Amazon11. Cash Back Earnings With Rewards Shopping Sites12.  Create an Online Store using Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Else Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Produce a Mobile 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 have multiple income streams which are passive, many of which I shall mention below.

By choosing the right resources 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 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 make money while you sleep using something that fits your passion, experience, or skill-set.

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Real estate can be a he has a good point great way to make money while you sleep. However, because it costs so much to purchase a home, using a crowdfunding platform to invest in property 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 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 as you can start investing in real estate with as small as 5.

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

Not known Factual Statements About Passive Income Streams

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

If you're going to go this route, make sure you educate yourself and select solid stocks so that you can 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 common savings or money market account.

If you're looking for a lower risk option, have a look at 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.