Multiple Passive Income Streams - Questions

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I labored 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 notion of passive income became really appealing.

I had heard of many people quitting and replacing their fulltime 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 per 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. Compose a Book7. Rent a Space in Your House8. Affiliate Marketing9. Create a Lead Generation Website10. Sell Products on Amazon11. Cash Back Earnings With Benefits Shopping Sites12.  Create an Online Store with Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Else Run it16. Buy a Vending Machine Business17.  License Your Photos18. Create a Cell 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 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 that you want to. Passive income is a way of buying back more time.

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

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Real estate can be a great way to generate money while you sleep. But since it costs a lot to buy a house, using a crowdfunding system 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 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 begin investing in real estate with as small as $5.

Even though they promote an option to begin with $500, once you enroll for free you can navigate their these details offerings. They really have a Student Housing REIT which has a minimum investment of $5.

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

Passive Income Streams Fundamentals Explained

Dividend income is money paid to investors of shares 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, 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, be sure you educate yourself and pick pop over to this web-site 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 3-8% range, investing money using a company like Lending Club can get you much higher income outcomes 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 percent return. One unique thing about them is that your money is liquid, which means you can take it out at anytime.