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Showing posts from August, 2021

What are Income Producing Assets & How to Get Them

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Income-producing assets make an ordinary person get rich . This means getting multiple sources of income from different investments or income-generating assets.   In the long run, provide benefits through diversification and avoid relying on a single financial resource or payment stream to benefit you. 99% of most successful entrepreneurs do this; they make different sources of income that produce income means cash flow. It is better to invest in cash flow rather than speculation. Assets that produce cash flow tend to appreciate in value over time like real estate and index fund stocks.  In this blog, I will discuss multiple income-producing assets and then consider which are better so you can start working on them from today.  What are Income Producing assets? According to youngandtheinvested.com , income-producing assets is an investment  which generates consistent, recurring revenue, cash flow or income over time.  Assets that generate income need upfront costs; some assets need mor

What Exactly is Procrastinantion and How to Overcome It?

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Procrastination is the Thief of Time  'Procrastination is the thief of time' is one of the best-known proverbs in the English Language. This phrase was made by writer Edward Young. The phrase means that when a person continually put-off his important tasks which result in ultimately achieving very little.  What exactly is Procrastination?  Procrastination is the habit of unnecessarily and voluntarily delaying or postponing something important despite knowing that there will be some negative consequence as a result.  According to Joseph Ferrari (Professor of Psychology at DePaul University, Chicago) said no matter how committed or well organised you are you will always come in a state  frittering away hours on unimportant pursuits like watching TV, shopping online or unuseful tasks. However, you should be spending your time wisely on important tasks that will grow you in your dreams or career.  Whether you put off completing work projects, avoid chores, or ignore household chor

How does BRRRR Strategy Works-Real Estate Investing

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The BRRRR (Buy, Rent, Rehab, Refinance, Repeat) is a real estate investing strategy that involves buying distressed properties in a good location then flip the property to its standard condition and then rent it out, and the cash-out refinancing to fund further rental property investment.  The difference between conventional investment strategy and BRRRR strategy is you need hard money lenders instead of a conventional mortgage. Secondly, the BRRRR strategy focuses on investing in distressed properties and then refinancing the purchased property to occupy the second property. From my experience, you can buy more than 10 properties under 5 years with 100K which I will talk about later. If you are a real estate investor and considering this type of strategy. Then you must read till the end of the post as I will be outlining how BRRRR strategy works and some of its pros and cons.  How does the BRRRR Strategy Works? If done correctly, the BRRRR strategy can provide a passive income in mass

How to Buy Your First Rental Property with No Money Down?

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 Having a nice chunk of change to buy real estate property that will help propel your investing career is not the only way to start investing in real estate. Do you know that there are a lot of ways you can buy a property with no money down? If you are tight with your money or want to be more creative then these six ways of real estate investing with no money upfront. What does it mean to invest in real estate with no money down? Traditional banks require a minimum of 20% of the purchase price which is equal to tens of thousands of dollars. But in this blog, you don't need any upfront payment as I will show you how to buy an investment property with no money.  When someone says that they are buying a property with no money down this means that they are putting no money upfront from their pocket.  As an investor, you can use other people's money or creative financing options to eliminate a downpayment. This means that putting less money will give you higher returns but more you

What are Some Ways to Make Passive Income

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Passive incomes are often misunderstood, for this source of income-you require upfront investing and nurturing time. But after some time these streams start to build up and can maintain themselves and you will be getting a constant source of income.  Talking from my own  experience, adding  passive income streams will help you increase your earnings and accelerate your financial goal in a lot of ways. For example, starting a YouTube channel can be a great place to start your entrepreneurial journey. How and What does it take to Earn Passive Income? Before diving into different streams of passive income I want you to clear some misunderstandings. The name 'Passive' tells that you don't need to do anything to make it. But, this is not true. You have to start by investing your time, energy or money.  You cannot start your residual income by not investing your time or money. However, passive income also takes risks so it will be a good idea to change your mindset and become a r