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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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