Aug 30, 2019
Can you imagine a life where you didn't have to work every day? Instead of needing to work you could work because you wanted to or, you could choose not to work because you wanted to. How? By building a passive income.
One of the ways to earn passive income is to buy apartment buildings.An 18 to 24 unitapartment building could provide you a net income of $5,000 per month after figuring in things like vacancies, maintenance, repairs, property management, taxes, and insurance would bring you in $60,000 per year.
Depending on the locations and types of properties you have, it may take more or less properties for you to reach that $5,000 per month mark.
Another way is to invest $600,000 which could yield 10% interest and make you $5,000 a month.This particular method appears, at first glance, a little harder to achieve than the rental property scenario because it's hard to find $500,000 at once to invest right?
The third option is to buy whole bunch of houses to rent. Figure out the net income would be per house. If it's $100 per house then you may need 50 of those rental houses. One of the trainingswe took with the "Rich Dad Education Group", they taught us that if the house nets you $50 a month then you should buy it. You would be more profitable down the road after calculating mortgage pay down and equity appreciation.
We started with doing just that after our training and it turned out really good for us.
But there are a lots of other way to earn passive income. Lately I have been doing podcast interviews and through our conversations I am finding out a lot of other ways that people earn passive income from.
From Mitch Stephen, I interviewed him few weeks back he told me that he sells houses to people and holds the mortgage for them. He charges 10% which to some of us might seem really high but his target client makes it work as it doesn't cost more than rent and they own it eventually. Mike Wolf, another interviewee earns passive income through tax liens and tax deeds.
So with that being said, how does this tie up to my Laser Coaching Program?
Let me tell you that a lot of people come to me and they want to learn how to earn $5,000 in passive income through real estate. Some of them do not want to wait for an apartment building to cut in and start paying for themselves as you know that we pay out our investors first unless you take lower ownership so there a way to do that as well. You take a lower ownership and get income upfront as an asset management fee – not so passive but better than a J.O.B.
That's the kind of thing I work out with you. Although I don't do all these things myself but I can work with you to find out what's going to work for you. I am a big believer that we have to work within our strengths.
The Laser coaching program is designed in a way that you are held responsible for your goals. During the first call I will get to know you and make sure we both feel good about me helping you get the results you want. If during this call either of us feel this isn't a fit, your money will be returned and the coaching arrangement terminated (so there is no risk).
After that, we will come up with the homework that is best for you to move you closer to your goal. You can schedule as many calls with me as you like but with one condition to complete your homework before you book the next call. So that is how I make you held accountable for your goal.
A One-Year Laser Coaching program is open until this Sunday midnight. And we are taking only 8 students first come first serve.
For more information visit https://ednakeep.com/laser-focus-coaching/
To learn more about the topic, watch my Facebook video live here.