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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 that I knew I wanted more freedom and the idea 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 clue where to get started.

This pursuit led me to start this blog in which I now make over $6,000 a month, however, 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 Rewards Shopping Sites12.  Create an Online Store using Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Create a Mobile App19. Rent Your Car for Ad Space20. Purchase 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 that you did once. I've got multiple income streams which are passive, so many of which I will 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. However, this is NOT one review of those shady things. These are legit ways for you to earn money while you sleep using 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. However, since it costs a lot to purchase 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 property products through property 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, once you enroll for free you can browse their offerings. They really 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 exactly what they're doing.

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Dividend income is money paid to shareholders of stocks in the kind of money in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to earn 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 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 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 greater 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 these is that your money is liquid, so you can take it out at anytime.