The best way to start making passive income in investing in real estate. In this post, I will break down passive income and show you how to create several passive income streams. You just need to know where to start and decide what resources you’re willing to expend for your passive income ideas to take flight. If you’re willing to commit your resources to the steps and ideas below, you could earn residual income effortlessly for years to come. Passive income is a long-term choice that requires short-term tradeoffs. We’ll come back to this.īuilding multiple passive income streams has an additional benefit in the short term: it can make you more resilient and better able to weather economic shocks, such as what was experienced with the housing crisis in 2008 or during the COVID-19 pandemic. The first step is to build a small savings account that you can use later. It requires time, money, skills, or all three. The truth is that building a passive income stream usually isn’t passive at first. “Making money while you sleep” has a nice ring to it, doesn’t it? After all, one of the goals of financial independence is to build wealth that doesn’t eat up your time, so you can enjoy life and do the things you choose to do.
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