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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 that I knew 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 get started.

This pursuit led me to begin this blog in which I now make over $6,000 per 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 Room 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 using Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Produce a Cell App19. Rent Your Car for Advertisement Space20. Buy an Existing Full Report 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, so many of that I shall mention below.

By choosing the right 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 create residual income in network marketing. Nonetheless, this is NOT one of these shady things. These are legit ways for you to make money while you sleep with something that fits your passion, experience, or skill-set.

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Real estate can be a terrific way to generate money while you sleep. But since it costs so much to purchase a home, using a crowdfunding platform 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 property, consider using a company like Fundrise.  You only need $500 to get started 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 start investing in real estate with as little as $5.

Even though they promote an option to begin with $500, check that once you enroll free of charge you can navigate their my company offerings. They actually have a Student Housing REIT which has a minimum investment of $5.

Their goal is to make real estate investing accessible to everyone and that's just what they're doing.

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Dividend income is money paid to investors of shares in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for those wanting to make a living with passive income, as they'll get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .

If you are going to go this route, make sure 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 outcomes 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 percent return. One unique thing about these is that your money is liquid, so that you can take it out at anytime.