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What if you just had two individual sources both earning you $250 paychecks ($500 total) each month with no doing additional work. And those sources just paid for your automobile expense.

Have I beaten this concept to departure at this point Great. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is exactly what Real Estate Investors call Cashflow.

Again, I understood that I DID NOT want to be wealthy when I was 65 when it cost me my life during my younger years... I'd rather have a healthy amount of cash coming in each month from several resources and retire early. Or at least do WHATEVER I wanted after the army without having to consider the paycheck coming from my new hobby, job, or even occupation as a portion of this equation.

 

 

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Both conditions"residual income" and"passive income" attempt to capture the identical concept of,"making money mechanically." For the sake of brevity, I will only be using both terms interchangeably.

After hearing the words"passive income,", many of us immediately start having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You immediately snap back into it, have a sip of your Monster Energy drink, and try to remain awake while on your 24-hour duty at the barracks. .

 

 

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Is a blissful and lively lifestyle actually possible Is it possible to plan my military career to get nearer to such a lifestyle

An asset is something which puts money in your pocket every month. It is a lifestyle and wealth multiplier.

 

 

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A liability is something that takes money from you every month. It might be a temporary lifestyle enhancer, but a long-term way of life and wealth killer.

Teach yourself to this point that you can find and purchase American Real Estate that you rents at a higher cost that all its expenses and there's still a significant amount left . The leftover money is that stream of income or cash flow.   Finally, when we start looking at these income streams collectively, it becomes known as"residual income" .

Ironically, setting up your own Real Estate Investing Business is NOT easy... however, with the proper education, Real Estate Investing does NOT need to be hard.  But you must learn and act.

Now, in case you all of the above makes sense, this contact form a funny thing will start happening.  When you begin talking to folks about finances you'll soon begin to realize that there are two different kinds of people in the world: those that read more understand the difference between an asset and a liability, and the ones that will NEVER be wealthy. .

 

 

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Every one of these entities are money making systems. They produce income while costing very minimal personal effort or time. Even though one of these ended up costing me a million dollars a month but produced two million dollars a month, it is an advantage.

Honestly, who cares how much you are spending on an advantage every month when it earns you more than what you spend Now let us take it one step further... what should the spending was automatic and was that the earning

If there was a machine that spit out two dollar bills after you gave it a single dollar bill, you'd be glued to this machine all day! Moreover, you wouldn't care if that machine charged you 50% interest on your buck prior to generating one of the two bucks it spit out. .

 

 

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Because learn the facts here now passive income inherently means I do not have to spend the most expensive thing in life, time, in order to earn a certain amount of residual income.

Since some people that hear the term get disappointed when they realize there's a great deal of education and some significant set up needed on the front end of the journey to financial freedom (our"Why"). Again, this isn't a get rich quick scheme, but it is a hell of a lot better than what I had been taught by some of my military and veteran mentors. .

As members of the army, we often believe it would be very difficult, or maybe even impossible, for us to find time to earn extra income. As far as our professional priorities, our military support should be in the very top. So how can we ensure that we are setting our new real estate investing business up for enormous success How do we make sure that it doesn't produce more anxiety than pleasure.

 

 

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The trick is to leverage our VA benefits, minimize our personal housing expenses, and concentrate all of our savings towards producing resources... a.k.a. rental properties.

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