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There are so many opportunities out there to make residual income in network marketing. However, this is NOT one of those shady things. These are legit ways for you to make money while you sleep with something that fits your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. But because it costs so much to purchase a house, using a crowdfunding platform to invest in property can be a more affordable option.
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If you want an easy, low-cost way 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 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 start with $500, once you register for free you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
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Their goal is to produce real estate investing accessible to everyone and that's exactly what they are doing.
Dividend income is money paid to shareholders of shares in the shape of money in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn a living with passive income, since they will 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 that you educate yourself and pick solid stocks so you can depend on for dividend income for 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 with a company like Lending Club can get you much greater income results than a typical savings or money market account.
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If you are looking for a lower risk option, have a look at Worthy. They provide $10 bonds and pay a 5% return. One unique thing about these is that your money is liquid, which means you can take it out at anytime.
This means if for some reason you need your money back, then you are able to get it quickly and easily.
The less money youre paying in interest to lenders, the more money you have in your pocket every month. Talk about a very simple form of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to lenders each month.
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One way to boost your debt payoff is to decrease your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which features loan rates as low as 4.99% to refinancing your credit card debt.
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Although this wont make you filthy rich, it'll be a safer way to create consistent income and not lose your money since CIT FDIC insured.
Once the initial task of creating the publication is done, selling books can be a great method to create some severe residual income.
Once your book is available on a site like Amazon, you could receive a check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the longer you spend marketing your books, the more money youll make.
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Do you have an extra room which you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of people use Airbnb to find somewhere to stay instead of staying in a resort, sometimes even for months at a time.
You can hire a maid service to clean and prep the space following a suspect leaves. This may eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 webpage a month renting out their bedrooms.
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If you have a website already then this really is a no-brainer. Some folks are making over $50,000 per month just like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
In case you dont have a website, you can start one for less than $3/month. Thats the price for getting a website sponsor a company that stores your site on servers discover this so it can be seen on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.