Achieve Financial Freedom with a Passive Income
There are three main categories of income: active income, passive income and portfolio income. Passive income does not include earnings from wages or active business participation, nor does it include income from dividends, interest or capital gains. For tax purposes, it is important to note that losses in passive income generally cannot offset active or portfolio income. Life on Residual income just isn’t the same!
What does Residual Income mean?
The amount of income that an individual has after all personal debts, including the mortgage, have been paid. This calculation is usually made on a monthly basis, after the monthly bills and debts are paid. Also, when a mortgage has been paid off in its entirety, the income that an individual had been putting toward the mortgage becomes residual income.
What does Passive Income mean?
The true goal of every Investor should be to create as much passive income as soon as possible.
How can you accumulate massive Passive Income quickly?
Well, if you went out and bought a couple of dozen family houses and kept them, you would create a decent income. Good but not amazing. It’s going to take you time to find all of these deals and then you would have to manage all of those tenants.
What If you put a couple of dozen units in the same property?
Then you would only have to find one deal and then a few more, to create a great passive income!
I know what you’re thinking... Oh no, not apartments! I don’t want to deal with the tenant hassles! And we agree with you, you shouldn’t be dealing with any tenants, wouldn’t it be better if you could just sit back and collect cheques, while someone else deals with all of the management headaches?
Part of our service includes our Management Company and they shield Investors from the day to day management of their properties, so you can go out and continue to do what you do best, find more property and create more cash flow!
But aren’t they Expensive?
It’s true that Management Companies are paid a percentage of the gross collected rents, somewhere between 8% and 15%, though if you factor this cost into the deal, as long as the property cash flows with these fees, you’ve got yourself a winner! We can cover all this for you, for half of the cost.
Not only have you found a property that will get you one step closer to true freedom, you don’t have to hassle with a single tenant.