Just checked it out. Good reading. I noted the fact that many people focus on three income streams that are least effective for building wealth. BP members have it right. The income stream they focus on, rental income, is the most powerful (according to the author).
Copied and pasted from his page:
We’re always working to generate leads, make payroll, increase sales, deal with problems, hire/fire employees…. You’re never free when you own a business. NEVER.
These same ongoing challenges do not apply to rental real estate. Sure, we have challenges with rental real estate. These challenges are temporary and typically revolve around vacancies. Once these vacancies are filled with qualified tenants, we have our freedom back.
It all boils down to which income stream you set as your priority.
Just checked it out. Good reading. I noted the fact that many people focus on three income streams that are least effective for building wealth. BP members have it right. The income stream they focus on, rental income, is the most powerful (according to the author).
Copied and pasted from his page:
We’re always working to generate leads, make payroll, increase sales, deal with problems, hire/fire employees…. You’re never free when you own a business. NEVER.
These same ongoing challenges do not apply to rental real estate. Sure, we have challenges with rental real estate. These challenges are temporary and typically revolve around vacancies. Once these vacancies are filled with qualified tenants, we have our freedom back.
It all boils down to which income stream you set as your priority.
Thanks @John Thedford but the point was that even a small rental can generate lots of rent. I'm not looking glory or glamour, just was trying to illustrate a point.
@David Krulac I’m a newbie to all of this real estate investing and to bigger pockets. Is there any advice that you can give when it comes to financing? I work basic jobs so financing on my own is definitely something I can’t do. I’ve heard you don’t need to use your credit, although my credit is good, what is it that one should look for when finding a good deal in order to get a lot if not full financing?