The Main Principles Of Multiple Passive Income Streams

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I worked a traditional 9 to 5 job for many years and eventually I have burned out. Would you know what sounds like I knew that 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 occupation with passive income, but I had no idea where to start.

This pursuit led me to start this blog in which 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 Space in Your House8. Affiliate Marketing9. Produce a Lead Generation Website10. Sell Products on Amazon11. Money Back Earnings With Benefits Shopping Sites12.  Create an Online Store using Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Ad Space20. Purchase an Existing Online Business21. Purchase a Laundromat22. Open a Batting Cage23. Item Design24. Bond or CD Laddering25. Rent Your 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 that I shall mention below.

By choosing the right 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 many opportunities out there to create 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 with 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. But because it costs a lot to purchase a home, using a crowdfunding platform 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 real estate, consider using a company like Fundrise.  You only need $500 to begin and you can invest in more than 48 property products through property investment trusts.

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

Even though they promote an option to begin 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 available to everyone and that's exactly what they are doing.

What Does Passive Income Online Mean?

Dividend income is money paid to shareholders of stocks in the form of money in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to earn a living with passive income, since 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 sure 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 Discover More traditional financing. With investment returns in the 3-8percent 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 pay a 5 percent return. One unique thing about them is that your money is liquid, so that you can take it out their website at anytime.