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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 that are passive, so 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 so 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. However, since it costs so much to buy 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 get started and you can invest in more than 48 property products through real estate investment trusts.

Another company to consider is Rich Uncles since you can begin investing in real estate with as little 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 actually have a Student Housing REIT which has a minimum investment of $5.

Their goal is to produce real estate investing available to everyone and that is just what they are doing.

Dividend income is money paid to investors of shares in the shape of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to earn a living with passive income, as 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, ensure you educate yourself and select solid stocks so that look at more info you can depend on for dividend income for many 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 greater 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 cover 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, you are able to access it quickly and easily.

The less money youre paying in interest to lenders, the more money you've got in your pocket each month. Talk about a very simple kind of passive income. Getting out of debt fast can increase your income even more this content since youre no longer paying interest to lenders every month.

One method to speed up your debt payoff would be 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 features loan rates as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk method to produce passive income Then consider opening a high-yield more helpful hints savings account with an online bank like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% that's unreal.

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While this wont make you filthy rich, it will be a safer way to create consistent income and not lose your money since CIT FDIC insured.

Once the initial work of creating the publication is done, selling books can be a excellent method to produce some severe residual income.

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

Do you have an excess room which you seldom use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of people use Airbnb to find somewhere to stay instead of staying in a hotel, sometimes even for months at a time.

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You can hire a maid service to clean and prep the space after a guess leaves. This may 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.