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Passive Income

                                                                    Strategies to

                                                                    Create Wealth

                                                                    by Stuart Gethner

        “Can you help me purchase this apartment complex in Tucson?” asked Roy.

        “Sure,” I said.  “How much do you have for a down payment?”

         “Nothing, nada, zero. Still want to help me?” he said.

        “Sure! Let’s evaluate the deal.” I answered.

        Roy now has the  apartment  Did you know that one average  Stefanie made the commitment
        complex in escrow with a closing  rental  property  will  generate  to stop trading time for money.
        date in Q2  of this  year using  almost $20,000 a year in passive  How many of these opportunities
        none of his own money.  This  income?  And if  you don’t  have  do you need to finally reach your
        apartment complex will generate  time or desire to be “hands on,”  financial goals?
        around $300,000 a  year as  then you’ll take-home $18,000 a
        passive income.                      year on that one rental property.  Investing  in  real  estate  is  not  a
                                             How many of those do you need  get-rich-quick  strategy. Rather
        How many streams of income do        to  finally  get  out  of  debt,  quit  it’s a get-rich-SLOW strategy and
        you  have?  Research  shows that     your  job,  travel,  or  just  provide  it works every time.
        millionaires have seven streams      some  small  things  for other
        of income.  How many streams         family members?                      In fact, I equate investing in real
        of income do you need? That’s a                                           estate to riding a bicycle. When
        trick question because the better    We watch those sexy television  was the last time you rode a two-
        question  is  how  much  income      shows  on  flipping  houses  and  wheeled  bike?  Maybe  it’s  been
        do you want? One cannot say, “I      say to ourselves, “I can do that!”   a  while. However, if I took  you
        want to make a lot of money!”        And you probably can! After 14  out to the parking lot, gave you
        Let’s  start  with  defining  exactly  years as a comptroller for a large  a bicycle and said, “start riding,”
        how much. For some, $100,000  company, my client,  Stefanie,  it might take you a few pedals to
        a  year is more than  enough.  quit her job to follow her dream:  get started.
        For others, $100,000 a month  flipping  houses.  She  recently
        isn’t enough. The first step is to  completed  her  fourth  flip  in
        realize  you’re not going to get  fifteen  months.  This  last  flip
        rich trading time for money.         generated over $40,000 in profit.

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