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Imagine if you had two separate sources both earning you $250 paychecks ($500 total) each month with no doing extra work. And those sources just paid for your automobile expense.

Perhaps you have beaten this concept to death at this point Good. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is what Real Estate Investors predict Cashflow.

Again, I realized that I DID NOT want to become wealthy when I was 65 if it cost me my life during my younger years... I would rather have a wholesome amount of money coming in each month from various sources and retire early. Or do WHATEVER I wanted after the army without having to consider the paycheck coming out of my new hobby, job, or even job as a portion of this equation.

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Both conditions"residual income" and"passive income" attempt to capture the identical concept of,"making money mechanically." For the sake of brevity, I will only be using both terms interchangeably.

After hearing the words"passive income,", many of us instantly begin having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You immediately snap back into it, take a sip of your Monster Energy drink, and try to remain alert while on your 24-hour duty at the barracks. .

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Is a blissful and passive lifestyle actually possible Is it possible to plan out my military career to get closer to such a lifestyle

An asset is something that puts money in your pocket each month. It's a lifestyle and prosperity multiplier.

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A liability is something that takes money from you every month. It might be a temporary lifestyle enhancer, however a long-term lifestyle and prosperity killer.

Educate yourself to the point which you can find and buy American Real Estate which you rents in a higher price that all its expenses and there's still a significant about his amount left . The leftover money is that stream of income or cash flow.   Finally, when we start looking at such income flows collectively, it becomes known as"residual income." .

Ironically, setting up your own Real Estate Investing Business is NOT easy... however, with the correct education, Real Estate Investing does NOT need to be difficult.  However, you have to learn and act.

Now, in case you all of the above makes sense, a funny thing will begin happening.  When you begin talking to people about finances you'll soon begin to understand that there are two different kinds of people in the world: those who understand the difference between an asset and a liability, and those that will NEVER be wealthy. .

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Each of those entities are money making systems. They create income while costing quite minimal personal effort or time. Even if one of those ended up costing me a million dollars a month but made two million dollars each month, it is an asset.

Honestly, who cares how much you are spending on an description advantage every month if it earns you more than what you spend Now let us take it one step further... what if the spending was automatic and so was the earning

If there was a machine that spit out two dollar bills after you gave it a single dollar bill, you would be glued to that machine all day! Moreover, you wouldn't care if that machine charged you 50% interest on your dollar prior to generating one of the two bucks it spit out. .

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Because passive income inherently means I do not need to spend the most expensive thing in life, time, in order to earn a certain amount of residual income.

Because some people that hear the word get disappointed when they recognize there is a great deal of education and a few significant set up needed on the front end of their journey to financial freedom (our"Why"). Again, this isn't a get rich fast scheme, but it is a hell of a lot better than what I had been taught by a number of my army and veteran mentors. .

As members of the army, we often believe it would be very hard, or perhaps even impossible, for us to find time to earn additional income. As far as our professional priorities, our military support must be at the very top. So how can we ensure that we're setting our new real estate investing business up for enormous success How do we make sure it doesn't produce more stress than enjoyment.

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The trick is to leverage our VA benefits, minimize our personal housing expenses, and next page concentrate all our savings towards producing resources... a.k.a. rental properties.

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