Creating passive or residual income
Creating passive or residual income is the ultimate investment dream for many, and it can be achieved Investing in real estate. In fact, savvy investors have been using real estate as a way to create residual income for decades. Residual income Simply put, is income that continues to be generated. Unlike linear income, which is compensation that comes in the form of wages, commis sion, or salary, residual income allows you to continue seeing benefits long after the initial “work” has been done. Rental property income is a good example. If you’re interested in creating residual income through real estate : Know your real estate investment options There are several different ways to create residual income opportunities via real estate, and it’s important to research each one to determine what’s best for you and your goals. Consider these options: Investment properties: An investment property is one purchased with the sole purpose of earning revenue. It could be a commercial space you’ll ...