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

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

This pursuit led me to start this site where I now make over $6,000 a month, but 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 out 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. Purchase a Vending Machine Business17.  License Your Photos18. Produce a Mobile App19. Rent Your Car for Advertisement Space20. Purchase an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Product Design24. Bond or CD Laddering25. Rent Your Own StuffSummary.

Passive income is where you get paid over and over again for work that you did once. I've got multiple income streams that are passive, many of which I will mention below.

By choosing the ideal 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 create residual income in network marketing. However, this is NOT one of these shady things. All these are legit ways for you to make money while you sleep using something that fits your this page 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 so much 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 method to invest in income-producing commercial property, consider using a company like Fundrise.  You only need $500 to get started 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 little as 5.

Even though they promote an why not try these out option to begin with $500, once you register for free you can browse their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.

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

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Dividend income is money paid to investors of stocks in the kind of cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to earn a living with passive income, since 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 certain that you educate yourself and pick solid stocks so 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 wikipedia reference can get you much higher income results than a typical savings or money market account.

If you're looking for a lower risk option, have a look at Worthy. They offer $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, so that you can take it out at anytime.