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Generating Passive Income with Real Estate Investing
2 Frugal Dudes
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Episode 148: What is passive income? How do you start generating passive income? How can you make real estate investing a passive income-generating venture? Learn how to start generating passive income with Dustin Heiner of Master Passive Income.
Dustin started with real estate investing after learning that job security doesn’t really exist. Over time, he has built up enough passive income through real estate investing that he makes thousands of dollars each month for less than an hour of work.
Benefits of Passive Income
The primary benefit of passive income is that you are continuously generating money without putting in an effort. Setting up passive income tends to be front-loaded. It takes time to research and get yourself started, but then the income takes care of itself.
As your business grows, you can remain passive by using the income to pay other people to manage the business. Using the real estate investment example, paying a property manager is well worth the value they offer.
Getting Started with Real Estate Investing
To get started with real estate investing, start by building your business before jumping into the investment aspect. Consider things like building a network with realtors, mortgage brokers, contractors, inspectors, and property managers. Then start gathering the inventory — in this case, properties.
By taking this approach to starting with real estate investing, you’ll be able to scale in a more sustainable way.
Pro Tip: Take the numbers from wholesaler real estate signs and give them a call to be added to their list as an investor so that they call you when a new property arises.
Dustin Heiner
There are plenty of ways to get started in real estate investing. Working with a coach like Dustin can help you find the right approach for you.
Funding Real Estate Investing
To get started, you need to save some money. Fortunately, you can get started with as little as $10,000, scaling and reinvesting as you go.
As you buy more properties, you generate more cash. This approach allows you to scale your business exponentially. It’s also worth using this additional income to pay off some of the mortgages you acquire.
Get a Free Course from Master Passive Income!
Visit masterpassiveincome.com/freecourse you will get a free course showing you how to find properties, crunch the numbers to make money, and adjust within a fluctuating market.
Show Links & Related Episodes
Music: https://www.bensound.com/royalty-free-music
Disclaimer: Kevin and Sean are not professional financial advisors. Do not take any advice they give without first speaking with a professional and performing your own due diligence.
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