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Imagine if you had two separate sources both earning you $250 paychecks ($500 total) per month with no doing additional work. And those resources just paid for your car 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 predict Cashflow.

Again, I realized that I DID NOT want to become rich when I was 65 when it cost me my life during my younger years... I'd rather have a healthy amount of money coming in every month from several sources and retire early. Or at least do WHATEVER I wanted after the army without having to consider the paycheck coming from my new hobby, project, or even occupation as a portion of the equation.

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Both conditions"residual income" and"passive income" attempt to capture the same 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 begin having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You quickly snap into it, take a sip of your Monster Energy drink, and try to stay alert while on your 24-hour duty in the barracks. .

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Can be a blissful and lively lifestyle really possible Is it possible to plan my army career for closer to such a lifestyle

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

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A liability is something that takes money from you each month. It may 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 which you rents in a higher price that all of its expenses and there's still a significant amount left . The residual money is that stream of income or cash flow.   Finally, when we start looking at such income flows collectively, it becomes known as"residual income" .

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

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

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Each of those entities are money making systems. They produce income while costing quite minimal personal work or time. Even though one of these ended up costing me a million dollars each month but made two million dollars a month, it is an advantage.

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

If there was a machine that spit out two click to read more dollar bills once you gave it a single dollar bill, you'd be glued to that machine all day! In addition, you wouldn't care whether this machine charged you 50% interest on your dollar prior to generating you the two bucks it spit out. .

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Because passive income inherently means that I do not need 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 word get disappointed when they realize there is a lot 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 fast scheme, but it is a hell of a lot better than what I had been taught by a number of my army and veteran mentors. .

As members of the army, we often believe it would be exceedingly difficult, or perhaps even impossible, for us to find time to earn additional income. As far as our professional prioritiesour army service should be at the very top. Just how can we ensure that we are setting our new property investing business up for enormous success How do we make certain it doesn't produce more stress than enjoyment.

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They key click over here is to leverage our VA benefits, minimize our personal housing expenses, view website and focus all of our savings towards producing resources... a.k.a. rental properties.

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