Passive income properties are the best way to get paid for the rest of your life for doing work now. Everyone dreams of just doing whatever they want and getting checks in the mail; it's the new American dream. Short of winning the lottery or your great aunt Mildred leaving you all the money she has been hiding in her mattress, income from passive elements is the best way to achieve this dream.
Passive income is exactly what it sounds like. Any income you aren't actively working for constitutes income from passive elements. Unlike working forty hours a week to get a paycheck, income from passive elements comes from work you did in the past or investments you have. Retirees live off the passive income created by their pensions and . and bonds pay interest and both constitute passive income.
Businesses can also create income from passive elements. If you own a business that is set on autopilot or is managed for you by others then you are receiving passive income. While there are many ways to generate this kind of money, the best way has to be through real estate. Passive income properties offer owners the ability to put in a minimal investment of money and time and reap the rewards for the rest of their lives if they choose.
How much of your income that is derived from passive income properties is up to you. You can own as many passive income properties as you need to fit your lifestyle and needs. With some planning and smart investing though, you can easily create a small empire of real estate that funds the rest of your life.
For example, say you budget and save for a year or two and purchase your first property. You study the marketplace so you know how much your mortgage is going to be versus the rent you can charge. After expenses let's say you bring home $500, which may seem like a modest sum. Now what if you repeated this process for the next ten years? You'd end up having ten properties that are bringing in $5000 a month with little or no work on your part.
Besides the money coming in you have built up equity in these properties. Your tenants are paying your mortgage for you, plus a little extra. As you grow older and you need the money for life changing events like kids going to college, marriages or funding you can sell the houses and liquidate the equity.
With a little planning passive income properties can set you up for life. The best part is you decide your level of involvement. If you want to hire a management company to handle the ins and outs, you can. If you want to mix it up with the tenants, you can. Either way you are going to be collecting checks every month that will add a nice icing to the cake of your retirementor even fund the whole deal depending on how you play it.