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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 that feels like I knew that I wanted more freedom and the idea of passive income became really appealing.

I had heard of many people quitting and replacing their fulltime job with passive income, but I had no clue where to get started.

This pursuit led me to start this blog where I now make over $6,000 per 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. Compose 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.

Produce YouTube Videos15.  Start a Business and Have Someone Else Run it16. Purchase a Vending Machine Business17.  License Your Photos18. Produce a Cell App19. Rent Your Car for Advertisement Space20. Purchase an Existing Online Business21. Purchase a Laundromat22. Open a Batting Cage23. Product 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 that are passive, many of which I shall mention below.

By choosing the ideal sources of passive income, you can invest your time the way which 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. Nonetheless, this is NOT one of those shady things. All 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 great way to generate money while you sleep. However, because it costs so much to purchase a home, using a crowdfunding system to invest in property can be a more affordable option.

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 real estate products through real estate investment trusts.

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

Even though they promote an option to start with $500, once you enroll for free you can browse their 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 read here is money paid to shareholders of shares in the kind of money in your bank account. Dividend-paying stocks are especially 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 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 a lot higher income results than a common savings or money market account.

If you're looking for a lower risk option, have a look at Worthy. They offer $10 bonds and pay a 5% return. One unique thing about these is that your money is liquid, which means that you can take it out at anytime.