In a previous article, I asked you to consider a slight change of philosophy, or a paradigm shift if you will, when it comes to types of income. What’s the best kind of income? I think it is the kind that you don’t have to work for and that comes in, whether you’re doing anything or not. That is what monthly residual income is and is what it can be for you when you invest in the right sorts of things, such as apartments.
Let me approach this from a slightly different standpoint. Do you think Stephen King writes books so he can get a big check and then have to wait until his next book to earn more money? Maybe it worked that way for him when he started out but now, as an established author, he collects royalties (a form of residual income) on books of his that are sold. He has created a monthly income stream for himself.
You can do the same kind of thing when you wisely invest in real estate. Sure, you may need to start by flipping some houses and producing some revenue, but the ultimate goal should be to both accrue assets and also a residual monthly income stream that shows up regardless of what else you are doing. The wealthiest and most successful real estate investors out there are not flippers. They are owners, who hold properties and collect income from them.
Success in the monthly income side of real estate may not happen overnight but it always starts with a commitment to creating residual sources of income. You have to be able to see the big picture and envision yourself earning monthly income from your properties before you can actually do so. Otherwise, that temptation to just sell everything you buy (to scratch that quick cash itch) can take over and keep you earning income the way you always have.
I’m not here to indict or condemn any one income source as all have their place. I’ve just seen the power that a solid residual income source can represent and want to be able to share it with you. I’ve also seen how real estate investments can truly be sources of residual monthly income and do so in a substantial way. There are too many successful investor out there who have realize this for it not to be true. Are you ready to join them?
Can you now see how monthly revenue streams can fuel both your real estate empire and your overall success? Can you see how a commitment to this type of income is an important precursor to actually doing it? Now, you just need to realize that the best way to do this in real estate is through multi-units and apartments. This is why I am so passionate about this niche in real estate and why I hope you see that too.
