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

This pursuit led me to start this blog where I now make over $6,000 a month, but this is not the only way to produce residual income.

About Multiple Passive Income Streams

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 out a Room 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. 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 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, many of that I will mention below.

By choosing the ideal 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. However, this is NOT one of these shady things. These are legit ways for you to make money while you sleep using something that fits your passion, experience, or skill-set.

Multiple Passive Income Streams for Dummies

Real estate can be a great way to make money while you sleep. However, because it costs so much to purchase a house, using a crowdfunding system to invest in real estate can be a less expensive 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 real estate products through real estate investment trusts.

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

Although they promote an option to begin with $500, once you enroll for free you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.

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

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

If you're going to go this route, be certain that you educate yourself and select solid stocks so that you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you loan additional people 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 results than a typical savings or money market account.

If you're looking for a lower risk option, check out Worthy. They offer $10 bonds and pay a 5% return. One unique thing about these is that your money is liquid, which means that you can take it out at anytime.