What My Daughters Taught Me About Passive Income

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What does passive income mean to you?

It might mean that earning passive income allows you to pay off debt.

To some, it might mean saving the income to help build your retirement nest egg.

To others, the passive income might allow you to leave your 9 to 5 job so that you can live off of the income.  This can allow you to live a life by design.

If you've made your way to RentalRookie you have the desire to earn this passive income and I hope to show that  purchasing rental properties can be one way to make passive income dream come true.

One of the most inviting factors to investing in real estate, whether it is by flipping, wholesaling, renting or any other avenue you choose to take is that you can make money.  We have specifically chosen to take the road of rental properties because of the passive income you can make through positive cash flow each month.

My husband and I have been investing in real estate part time since 2012.   We've grown at a steady pace for investors who work full time jobs and are doing this on the side.

For us, earning passive income took on a whole new meaning when we had our first daughter and I had to return to work after my maternity leave.

Save, Save, Save...

Up until the birth of our daughters, earning that passive income had a meaning for us: save the money we make each month so that we can reinvest it in another property to earn even more cash flow.

Over the four and half years, with both of us working full time jobs and having the properties on the side, it truly has been passive income that we just continued to save and to be honest, we pretended we didn't even make it and just let it build up in our account.

Then I had to return to work after my first maternity leave.

After spending 15 amazing weeks at home with my little girl, I had to return to my full time job, teaching.

While I absolutely love teaching and admit that it is one of my true passions, I love my daughters more and transitioning into a job that requires so much time and energy everyday has made the passive income we make off of our properties take on a whole new meaning.

It's not just about saving anymore.

That income no longer makes me think solely about saving a goose egg of money to reinvest.

It now means that this income could potentially enable me to stay home for a while and raise my daughters and enjoy the many milestones that they continue to reach week by week.

Yes, we absolutely will continue to invest and in reality leaving the day job opens up more time to commit to real estate investing, but the passive income that we are making can enable that to even be an option for us.

It is no longer about the ‘goose egg’ of money that we aim to save, but more about the peace of mind that we have options. 

We are not stuck in a lifestyle or rut that makes us feel trapped.  Options are available and rental properties have been the answer.

So if you are reading this and are not sure about taking the plunge into investing in rental properties think about this: if you invest correctly so that you are yielding positive cash flow each month it can open up endless possibilities for you.

Not Sure if You're Ready to Take the Plunge

I get it.

If your profession has nothing to do with real estate, finance and investing this can seem like an impossible feat.  How are you going to find the time to juggle work, family, and real estate investing?

This was me.  I'm a teacher raised by a family of teachers.  All I ever knew growing up was the world of education.

Finance, investing and real estate were completely and utterly a foreign language to me.

But I didn't let that stop me.  I didn't let the fear of the unknown paralyze my want and desire to be in control of our finances and our lifestyle.

 

The reality is it starts with one step...commitment.  Commit to building a life that you want and not a life that you feel trapped in.

Figure out YOUR WHY.  

What can investing in real estate allow you to accomplish?  How can earning passive income help your financial situation?

Once you figure out a few of these things then you must Take Action.

I don't mean go out and whimsically buy a property.  I mean commit to educating yourself.  Each week learn one new thing about investing in real estate.

Educating yourself about the various aspects of REInvesting can help you feel more prepared when the time comes to take the plunge and buy a property.

Live a Life You Desire

Whether you want to pay off debt, travel the world, reinvest in more properties, or leave your day job to spend more time with the ones you love, investing in rental properties can give you this option and allow you to truly spend your days doing the things that you love.

You can do this too!

Are you ready to start earning passive income?  Let me show you-in 9 steps- how you too can buy rental property and start making money to put toward your financial goals.

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