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I worked a traditional 9 to 5 job for many years and eventually I got burned out. Do 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 full-time job with passive income, but I had no clue where to start.

This pursuit led me to start this blog where I now make over $6,000 per 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. 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. Cash Back Earnings With Rewards Shopping Sites12.  Create an Online Store with Drop Shipping13.

Create YouTube Videos15.  Start a Business and Have Someone Else Run it16. Buy a Vending Machine Business17.  License Your Photos18. Produce a Cell App19. Rent Your Car for Advertisement Space20. Buy an Existing 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, 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 make residual income in network marketing. Nonetheless, 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 look at this now way to generate money while you sleep. But since it costs a lot to buy a home, using a crowdfunding system to invest in real estate 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 begin investing in real estate with as small as $5.

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

Their intention is to produce real estate investing available to everyone and that is exactly 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 particularly enticing for individuals wanting to earn a living with passive income, as 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, be 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 loan additional people 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 a lot higher income results than a common savings or money market account.

If you are 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.