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

I'd heard of many people quitting and replacing their full-time occupation with passive income, but I had no idea where to get started.

This pursuit led me to start this site where I now make over $6,000 a 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. Get Out of Debt5.  Open a High-Yield Account6. Write a Book7. Rent a Space in Your House8. Affiliate Marketing9. Create a Lead Generation Website10. Sell Products on Amazon11. Money Back Earnings With Rewards 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 Ad Space20. Purchase an Existing Online Business21. Buy a Laundromat22. Open a Batting Cage23. Product 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 have 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 that you want to. Passive income is a method of buying back more time.

There are many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of those shady things. These are legit means for you to earn money while you sleep with something that satisfies your passion, experience, or skill-set.

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Real estate can be a great way to make money while you sleep. But since it costs so much to buy 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 begin and you can invest in more than 48 real estate products through property investment trusts.

Another company to consider is Rich Uncles as you can begin investing in real estate with as little as $5.

Although they promote an option to start with $500, once you enroll discover this 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 accessible to everyone and that's exactly what they're doing.

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Dividend income is money paid to shareholders of stocks in the kind of cash in your bank account. Dividend-paying stocks are particularly enticing for those wanting to make 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. .

If you're going to go this route, make certain 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 folks money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money using a company like Lending Club can get you a lot 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 like this is liquid, so you can take it out at anytime.