Real Estate Investing
14 Ways To Start Investing Small Amounts Of Money
In 9 Ways to Invest $100 I gave suggestions on how to invest when you have just a few dollars. In this article, I want to take it up a notch, which is to say how can you invest when you have more than a few dollars, but not the thousands that traditional investment vehicles […]
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Perfect Passive Income Real Estate Investment – REITs
From $500 to 100+ Rentals Before 30
Show Summary Austin Hughes has built a 100+ unit rental portfolio before the age of 30! He shares how heâs done every type of transaction residential real estate offers and reveals…
How Private Money Lending Works
Private money lending occurs when a wealthy individual or private organization loans money to a person or company. Private money lending is common in real estate investment. Private money lenders loan money to investors who purchase and, often, renovate properties ⦠Continue reading â
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13 Best Early Retirement Books – You NEED To Read These Books
Do you want to learn how to retire early? Today, I’m sharing the best early retirement books to motivate you and help you start planning for your future. Early retirement is very popular right now, and you may be wondering if it’s possible for you and how to make it happen. If early retirement is […]
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12 Best Paying Jobs in Real Estate Investment Trusts (REITs) for 2023
Within the real estate industry, it is estimated that REITs supported 3.2 million jobs in 2021, according to a study commissioned by the National Association of Real Estate Investment Trusts (Nareit). But how much can you earn working for a REIT? Here are 12 of the best paying REIT jobs.
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Passive income ideas you can try today
Earlier this week, J.D. wrote about what he calls the biggest truth in personal finance: You can’t get rich through frugality alone. As Liz at Frugalwoods says, “You can’t frugalize income you don’t earn.” Income is one-half the fundamental personal-finance equation, and it’s probably the most important half.
J.D. advocates a three-pronged attack for boosting income: becoming better educated, becoming a more valuable worker, and learning to negotiate salary. But I think he’s missing a fourth important income source: the proverbial “passive income”.
I know, I know. Passive income has a bad reputation. Actually, passive income has a terrible reputation. And deservedly so. The Land of Passive Income is populated by scammers, hucksters, and charlatans. “Hey, little boy, wanna buy my course?” (Sorry, no links. They’re easy enough to find without us helping them.) That’s too bad because legit sources of passive income can be a great way to make more money.
What is Passive Income?
First up, let’s be clear: Actual passive “passive income” (as pitched by the scammers) is a lie. It doesn’t exist. When we talk about passive income, we’re talking about ways to make minimal money with minimal effort. Does that make sense? And it’s a supplement to your main income, not the primary source.
To me, passive income is money thatâs earned, usually on a recurring basis, without a significant time investment.
For example, if you own a rental property that brings in $1500 each month, but only requires two or three hours of time to manage, that’s (mostly) passive income. Most nine-to-five jobs are the opposite of this. The income you earn is tied closely to the amount of time you spend at the office.
Thatâs not to say that passive income doesnât require effort, though.
Often, thereâs a lot of upfront work required before income can become passive. Using the same rental property example, before you can make any money, you have to purchase and renovate the property, and spend time advertising and interviewing potential tenants. All of that takes time and money.
Or, take J.D.’s book as an example. When I asked, he told me that he spent four months working full-time in 2009 and 2010 to write Your Money: The Missing Manual. That’s not passive! But he hasn’t touched the thing since then, and he continues to receive $50 checks every month. That is passive.
Passive Income Ideas You Can Try Today
Some degree of passive income is possible — and without shyster shenanigans. In this article, Iâve compiled 40 passive income ideas for you to consider. Not all of these passive income ideas will be right for you. In fact, maybe none of them will fit you. That’s okay. But I’m willing to bet that many GRS readers will find at least one source of inspiration here that they can use to help increase their income…even if it’s only a few dollars per month.
How to Invest in Real Estate
Real estate investing is a popular way for investors to earn money, but learning how to invest in real estate can be difficult for beginners. From REITs to REIGs, there are different types of real estate investments and real estate terms to know before you get started. If you want to learn more about how
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How This Woman In Her 30s Owns 7 Rental Homes
Are you interested in learning how to start investing in rental property for beginners? Today’s interview is with Paula Pant, who in her 30s already owns seven rental homes. You may remember Paula from when I first interviewed her a couple of years ago in How This 34 Year Old Owns 7 Rental Homes. Today, […]
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