How to generate $4000 a month in Passive Income

[Shamus Quirk]

I was listening to podcast #35 today featuring Paula Pant and @Brandon Turner had a great idea!  See, I work a day job as a custom cabinet builder.  It's pretty cool, I mean I build some REALLY cool stuff and it is fun, but sometimes is just really wears on me.  I got my real estate license and work as a buyer and sellers agent on nights and weekends but sooner than later I would like real estate to replace my day job.  I'm getting in with a few local investors in the area, but my question to you is: (and again, I have to give credit to Brandon for the idea) 

I want to generate $4000 a month in passive income from real estate.  Is someone willing to help me formulate a plan to meet that goal?!  I'm sure somebody out there is doing it!

What are you thoughts?  How would you personally build a passive income of $4000 a week with real estate?  

Cheers!

[Brandon Turner]

Hey @Shamus Quirk thanks for the shoutout! 

If I were to build up $4,000 from scratch, starting today... I think I would either:

1.) Flip one house every 6 months. Not quite passive, but it could work. 
2.) Wholesale one house each month. Lots of direct mail. 
3.) Buy 40 units, each providing $100 per month in passive cash flow. 

Check out http://www.biggerpockets.com/7years for my full answer ;)