How To Get Passive Income? The Four Streams Of Passive Income
Hi, I’m Samuel Leeds! I’m a property investor; in fact, I’ve been into property investment for over a decade. Over the years, I’ve closed hundreds of deals, written books, taught many students on property. Here, I’m going to talk about passive income and the four streams of achieving it.
Now, the first thing I want you to know is a myth about passive income. The biggest myth of passive income is that passive income is a myth! I've heard it throughout my childhood, and I got to learn about the truth when I got myself into passive income streams.
Most people only talk about active income—where you go to work and get paid. Passive income, on the other hand, is when you invest in something once, you buy something once, and then you get paid for it over and over; you make money off of it even when you’re asleep!
Here are the four streams of passive income:
1. Real Estate
This one is my favorite! You buy a property, and then you get a management company to have tenants in there. Even when the tenants move out, the company will get another tenant there. And you get the monthly rent off of it! Of course, the management company takes their due fee from the rent, but you are making money by spending just a few minutes a month overlooking the details.
Yes, business is a form of a passive income! When you set up a business, you have managers and staff who work on it. When the business is set upright, and you delegate tasks and processes, it functions without YOU. And when the business functions without you, that is a passive income!
3. Online Business
The difference between an online business and a regular business is that online businesses don't even have the staff to run. I've seen people make millions from online businesses, such as subscriptions, which is a great way to have a passive income.
Lastly, royalties! I've written a few books over the years. And I've been paid for the royalties hundreds of times. Every month, Amazon sends me a check for the number of copies of my books they have sold. That is passive income.
Guys, I hope you liked the blog. Passive income is REAL, and I shared four ways you can achieve it. The best way to do it is through real estate, of course!
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