Generating passive income through real estate can be a fruitful alternative to laboring at a 9-5 job for your future. Here’s how.
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This question was recently posed to us: “How do you generate passive income through real estate?” Mortgage advisor Stacy L. Crossingham with Finance of America Mortgage, LLC joins me today to lend her expertise to help answer this.
The opportunity to make passive income is as exciting as it is liberating—it’s an alternative to relying on a 9-5 job to support yourself and establish retirement savings. While there are different avenues you can take with passive income, today’s focus is on real estate.
For those looking to invest in real estate, there are quite a few programs out there that will help you get a foothold in this way and learn how to buy your first property with very little money down. The more properties you develop, the more passive income you can amass via renting. Then, that money can go toward supplementing your retirement or whatever savings strategy you’d like.
"The opportunity to make passive income is as exciting as it is liberating."
You’ll not only develop labor-free, monthly income, but you’ll also develop equity in the property. If venturing out into this territory is a scary thought, know that we have programs for first-time investors where we can aid you in the process.
So many of the great influencers and teachers in financial health, like Robert Kiyosaki, have spoken about the philosophy of having your assets work for you. This way, for example, you can buy a starter home now and after moving into a home later in life, it becomes your investment property. Meanwhile, you’re building wealth until you’re ready to cash it in.
You’re not limited in the ways you can create a stream of passive income through real estate—owning apartment spaces, short-term rentals, or commercial property are all ways you can invest.
This means of passive income has created wealth for both of us and we’d like to share this experience with you! If you have an interest in learning more about developing passive income through real estate, don’t be shy and give us a call at Santa Fe Realty. We’d be happy to speak with you about it!