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I labored a traditional 9 to 5 job for many years and eventually I got burned out. Would you know what that feels like I knew I wanted more freedom and the notion of passive income became very 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 begin this site in which I now make over $6,000 a 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. 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 with Drop Shipping13.

Produce YouTube Videos15.  Start a Business and Have Someone Else 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. 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 right sources 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 so many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. These are legit ways 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 generate money while you sleep. But since it costs a lot to buy a house, using a crowdfunding platform to invest in property 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 real estate products through real estate investment trusts.

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

Although they promote an option to start with $500, once you enroll free of charge you can browse their offerings. They actually 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 is exactly what they're doing.

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Dividend income is money paid to investors of shares 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'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 you can depend on for dividend income for many years to come.

Peer-to-peer lending is when you company website loan additional folks 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 higher 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 provide $10 bonds and cover a 5% return. One unique thing about these is that your money is liquid, so that you can take it out at anytime.