From the course: Rental Properties 101
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Generating income whether you are doing anything or not
From the course: Rental Properties 101
Generating income whether you are doing anything or not
- [Instructor] I don't know about you, but it sounds like the hands-on approach is a lot of work. Well, it can be if you're managing the entire process all by yourself. It may be a little less work if you have others engaged to help you, but you're still responsible for the day-to-day management activities. So now I'm going to introduce the other approach to rental properties, the passive approach. Smart investors use this approach so their investments are truly passive. What does it mean to be truly passive? Well, when investments are passive, as opposed to active, it means that they generate income whether you do anything or not, or whether you're in town, or on vacation. Think of it this way, if you have a job, you usually have to go to work, or actually do work to get paid. If you stop working, your income stops too. With passive investments, the goal is for them to generate steady monthly or yearly income…
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