Rental Property Investor · Boston, Massachusetts (MA) · Member since 2016 · 2k+ posts · 2k+ votes
I've always appreciated those who started discussion threads, especially the humorous ones, and with the holidays I actually have a little time. So, finish the phrase "Whoever came up with passive income..." as best you can. Here's mine, starting it off with a typical gen-x sarcastic remark:
Whoever came up with the phrase "passive income"....WAS SELLING SOMETHING
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
6y
... has never had the police call them on a Sunday night to inform them that their drunk tenant is up on the roof of their 1923 Victorian house threatening to jump down to his death if his ex wife doesn’t stop badgering him about child support and his drinking
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
6y
... has never had the police call them on a Sunday night to inform them that their drunk tenant is up on the roof of their 1923 Victorian house threatening to jump down to his death if his ex wife doesn’t stop badgering him about child support and his drinking
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
6y
"...knew that there were possibilities out there."
"Passive income" doesn't mean "free income with no work." Always remember, There Is No Such Thing As A Free Lunch (TINSTAAFL). Passive investors in syndications don't need to do anything to earn income, but they do need to go make the money in the first place.
Portland, ME · Member since 2012 · 616 posts · 550 votes
6y
...never had a property manager charge them for replacing a stove, then had the tenant withhold rent because he has no stove!
...sits helplessly in her office while her buildings deteriorate, tenants stop paying rent, and eventually loses her buildings to foreclosure.
The first has happened to me, the second I've seen happen to others and would happen to me if I truly treated this business as "passive" and solely trusted others to take care of my business.
Whoever came up with the term "passive income"... is a genius and has helped many people discover Real Estate Investing in the sexiest way possible. Who doesn't like passive & money, eh?!
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
6y
"Whoever came up with passive income is someone I'm grateful for. I manage a large rental portfolio from across the country and did so almost from the very start, and it was easy"
Rental Property Investor · NC · Member since 2016 · 21 posts · 7 votes
6y
@Taylor L. I was going to say "... got their words twisted by someone else". I've always known "passive income" to be another word for "cashflow". A smart upfront effort for a payout over time.
@Taylor L. I was going to say "... got their words twisted by someone else". I've always known "passive income" to be another word for "cashflow". A smart upfront effort for a payout over time.
Well put. Everything takes work up front, but our natural temptation to try to do things the lazy way can sometimes prevail. The lazy way just doesn't work!
"...knew that there were possibilities out there."
"Passive income" doesn't mean "free income with no work." Always remember, There Is No Such Thing As A Free Lunch (TINSTAAFL). Passive investors in syndications don't need to do anything to earn income, but they do need to go make the money in the first place.
I like the, "There is no such thing as a free lunch" I even have to check myself on this when I say to my coworkers in regards to where is our free lunch, they used to give out free lunches at my job and then reading this, it's like Hey! Did you earn a free lunch? And above all, this isn't your company and would you offer a free lunch to yourself? Making money in 2020 and free lunches!
"...knew that there were possibilities out there."
"Passive income" doesn't mean "free income with no work." Always remember, There Is No Such Thing As A Free Lunch (TINSTAAFL). Passive investors in syndications don't need to do anything to earn income, but they do need to go make the money in the first place.
I like the, "There is no such thing as a free lunch" I even have to check myself on this when I say to my coworkers in regards to where is our free lunch, they used to give out free lunches at my job and then reading this, it's like Hey! Did you earn a free lunch? And above all, this isn't your company and would you offer a free lunch to yourself? Making money in 2020 and free lunches!
It's not free if you have to work there to get it! :)