What would you do if I told you real estate can make you crazy passive income with this strategy, without too much effort and minimum investment?
Without any further ado let’s begin.
Real estate is my passion, and I’d like to share the strategies that have enabled me to generate passive income from it. And I referred to these as wealth-building strategies. Let’s take a look at what it is and how you can use it to generate passive income and achieve financial freedom.
Wealth building strategies
Business Strategies
More businesses than investments, these strategies can generate income and replace your job. But you must be prepared to invest the upfront time and effort of a business start-up in order to make them work.
- Fix-and-Flip
The Fix-and-Flip strategy is the business of finding properties that need work, doing the repairs, and reselling them at top price for a profit. I used this model for years in real estate in order to generate cash savings for future investments. The beautifully finished houses are rewarding for me. - Wholesaling
Wholesaling is the business of finding good deals on investment properties and then reselling them quickly for a small markup. The crux of this business is being good at marketing and negotiating to find those good deals.
If you’re good at sales, you’ll like wholesaling. But if the idea of sales makes you cringe, I’d look for a different strategy.
Source – Interview with Real Estate Investor Russ Scheider