How To Create $10,000 Passive Monthly Income And Retire – Real Estate Investing

How To Create ,000 Passive Monthly Income And Retire - Real Estate Investing

If you are using the automation and outsourcing techniques that I teach in my Push Button Method and in my Six Month Mentor program, you will eventually want to outsource your buyers.
This can save you a huge amount of time and effort and is not that expensive to set up. There are some issues you have to solve before it will be an effective strategy — watch the video for details.

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Read the Transcript:

Bringing in a ,000 monthly income is more than just possible; it’s a reality for plenty of real estate investors.

“Based on my own background, the main thrust is, ‘Where is all of this leading? What’s the finish line?’ For example, how do I create a minimum ,000 a month permanent income, not lease options that can cash out? Besides paying off the single family houses, which is great, how do small to large apartments and self-storages figure in this ultimate plan? In short, where is all of this leading?” — Jeff from Seattle, Washington

Joe: Well, the goal is to have 100% passive income and just like you say here, if you can get ,000 a month, you have 0,000 a year and that’s a pretty good income, and if you own rental property or real estate in general, typically rents go up over time because inflation makes them go up, so that makes your passive investment inflation proof. If you buy a fixed cd or annuity and you know it’s going to be _x_ amount of dollars, you know that it’s going to stay the same until you die, whereas real estate has the potential to go up and the likelihood is that it will go up over time.

Joe: Values fluctuate and we’ve all seen a big adjustment in values across the country, but income has stayed pretty stable across the board, all over the country, and we’ve seen a little bit of adjustment in rents on the downward side over this last year or so. I was surprised that it didn’t drop earlier but it didn’t. Then we’ve seen in the last year that it’s dropped maybe 5 to 10% in some places.

Joe: But it’s still a good solid investment. All of the real estate that I own is still bringing in income every month. I own property free and clear. I also own property that I bought “Subject-To” that is paying off a loan over time and will work really well, and I even bought properties that I used loans to do. You can’t get investment loans these days that make any sense at all, and I wouldn’t suggest that anybody do that (there are some other problems with that as well which I won’t cover in this program).

Joe: The other question you had was,

Jeff: “Should I buy commercial property like multifamily and self-storage?”

Joe: If you have the cash, they can be good investments. If you look at single family homes and you look at the rent to price ratio, it’s much higher on a single family home than it would be on a commercial property, depending on where you buy. If you buy in good solid, blue collared neighborhoods where you can get substantial, professional, competent property managers, that’s what you want, because for it to be passive income, you have to have a good property manager to handle the work for you, or good property managers if you’re in multiple areas like I am.

Joe: It’s very important to have good people that can do this for you. You don’t have to manage the properties yourself, whether it’s self-storage or commercial. So if you have good property management, it’s one of the reasons to buy commercial, which from what I hear from people that own a lot of commercial property, is easier to manage.

Joe: But you also have the potential for more vacancies, especially in a volatile economic environment. And you still have to make payments on the mortgage, unless you paid cash for the property, and then it doesn’t hurt as bad, but it still means that you’re going to have less income per dollar that you spent. So if you want to get a 5-35% return, which you can do in real estate and which I’m doing, and if you do even more things to it like become active in the investing part of it or you turn around and sell some of the properties that you buy, then single family homes make a lot more sense for that reason.

Joe: I’ve done commercial, I’ve done self-storage and have worked in those environments but I like single families better, and the majority of what I have in my portfolio is single family homes, and I’d recommend the same for you.

To read the rest of the transcript, click here:

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26 thoughts on “How To Create $10,000 Passive Monthly Income And Retire – Real Estate Investing

  1. CB Passive Income is one most profitable method to earn online. It is one of the most effective and actual site of earning money. You can earn money easily by using this amazing system.

  2. Luck is one of many things you need in RealEstate investing. Your first deal is the most important. Be modest when your underwriting it. Good luck!! 

  3. Obviously an excellent video Joe. Very nice job. It's nice to see others along with myself posting about whats still possible in the world of investing.

  4. i agree but i kinda dont… cuz property tax in my state for an averge single family home is 4k.. and its 4k also for a duplex. the single family will get me 2k a month while the duplex will get me 3k… see what i mean?

  5. Hi Joe, just wanted to start out saying that I am not new to real estate investing. I'm not sure if this post is too old to get a response from you, but I was hoping you could maybe give me a general idea of what I can expect in this scenario even though you are recommending single family homes over multi-unit buildings. 
    I am familiar with rehabbing and selling single family properties, done about a dozen. I am also familiar with single family rentals, had a few, mostly a pain in my butt which is why I'm kind of against building a portfolio of single family home rentals. My goal is to move down to South Florida (North Miami area) in a few years and have enough passive income from a multi-unit complex to relax and workout and fish every day (along with some other investments of course).
    My vision is to purchase a nicer multi-family building, maybe not a class A but for sure a B-B+ most likely because I don't want to have low quality tenants. I would be able to put $1,000,000 down, so with the leverage of the bank, I figure I could purchase something up to the $3,000,000 range. I definitely DO NOT want to deal with day-to-day operations (collecting rent, fixing minor issues, standard maintenance, initial eviction letters, etc.) I only want to be involved in bigger issues that I set perimeters on. So I would 100% plan to hire a company to manage this building. 
    So basically my question is what is a ballpark of annual passive income can I realistically expect to earn off of this building after all PITI and any and all other expenses and management fee's are paid? Also is there anything that I would ever have to possibly worry about? Not like the value of the building will go down at this point, and I would have the right insurance for a hurricane god forbid. Thank you very much in advance for your help if able. 

  6. I only own single-family homes at this point. Once I acquire enough and build a good base of cash flow, I would like to buy a commercial property. I see a lot of potential in being able to buy a million dollar property, fixing it up, then buying another one. It seems as though it would be much more efficient than buying individual homes, even if the cap rates aren't as high. I would like to rehab an apartment building, then 1031 it for another, and repeat. I probably won't sell any of the homes, however.

  7. In japan but want to try this, no fund now, what would you do, could i start a website and try it or is it better to travel there and do it.

  8. Want to be a real estate agent but need extra money? Personal Loan Philippines, Business Loan Philippines, and many more is just what you need to become a real estate agent at Loan Solutions PH everything is possible.

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