Creating Residential Income: How to Get Your Money to Work For You
- ISBN-10
- 1387695967
- ISBN-13
- 9781387695966
- Category
- Business & Economics
- Pages
- 32
- Language
- English
- Published
- 2022-08-15
- Publisher
- Lulu Press, Inc
- Author
- vandelin Morris
Description
Are you interested in making money through real estate investments? It’s not just for big business tycoons and multi-millionaires. Today’s real estate investor could be any average, middle-class person. The key to generating more net worth for yourself is by establishing residual income. Your net worth is the total of all of your assets, minus your liabilities. Residual income is money that comes to you monthly on an ongoing basis, from investment that you have only had to set up once. Examples of residual incomes are stocks, royalties, etc. The key to your financial prosperity is building your portfolio of residual income producers. One of the first steps to developing a positive cash flow is to set yourself up for success. First, you will need to get rid of your debt and minimize your expenses. You will need to carefully track and account for your money. Reduce the amount of money that you spend on unnecessary items, and begin developing an asset base so you will be able to secure financing in the future. Begin actively saving cash so you can invest in real estate.
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