A lot of people are talking about how to generate passive income these days. However, it is sometimes hard for people to envision exactly how to go about it. I thought it would be helpful to give you a practical example that you could implement in your own life. In this example, I will show you how to get a Tesla for free using a simple passive income strategy!
I have published a video on my YouTube channel that goes into detail about exactly how to implement this. I highly recommend watching the full video until the end if you plan to take action and earn your free Tesla. You can find the full video above this post or on YouTube. In this article, I will summarise the 3 steps you need to take to generate passive income and get your Tesla for free!
1. Generate Passive Income With Property
If you are planning to buy a Tesla, you will need to spend about £30,000. Instead of buying that Tesla, you could put that £30k to work as a deposit on an investment property. With a mortgage, you could buy a £100,000 house. Of course, you are not going to generate much cash flow from a £100k house rented out as a standard buy-to-let, but there is another option. If you know where to buy, you can turn a £100k house into a profitable short-stay let.
Short-stay lets, where you rent the property out on sites such as Airbnb and Booking.com, can generate passive income effectively. After all expenses, you can expect to make £1,000 a month in profit with the right property. But how do you turn that into a Tesla? Let me explain…
2. Lease A Tesla With Passive Income
At this point, you are earning £1k a month in passive income. While this is great, you can’t buy a Tesla just yet. Instead, you can lease a Tesla. You can do this for about £425 per month. So you have a Tesla to drive around, but on top of that you still have £500-600 per month. You could use that for running the car or anything else you might need.
By now, I am sure you can see that this is a better financial decision than buying the Tesla with the £30k. If you bought the Tesla, you would not be generating any passive income and the value of the car would be going down over time. But I promised to teach you how to own a free Tesla, not how to lease one, so there is a final step to this process.
3. Buy A Tesla With Capital Uplift
Unlike a car, houses go up in value over time. You can look back in history and see that, over the long term, property has always done well. Historically speaking, houses double in value every 10 years. So in ten years, if you have chosen your property strategically, it could be worth £200,000. You can then sell the property or refinance it and buy a Tesla! Alternatively, you can keep leasing your Tesla and re-invest your money to continue to generate passive income.
If you would like to learn how to generate passive income through property, why not book on to my next training event?
On the course, you will learn how to:
-
Become a property investor using other people’s money so that you can get started straight away
-
Utilise the 5 different types of raised finance so that you know exactly what to offer and when
-
Find the perfect properties for the BRR strategy
-
Recycle your money so that you can ‘rinse and repeat’
-
Build a power team you can trust, so that you can save time and money
-
And much more!
Tickets are only £1, and you can get yours here. If you want to generate passive income that will pay not only for your Tesla, but for your life, I hope to see you very soon!
