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What if you had two separate sources earning you $250 paychecks ($500 total) per month with no doing extra work. And these resources just paid for your car 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 exactly what Real Estate Investors call Cashflow.

Again, I realized that I DID NOT want to become rich when I was 65 when it cost me my lifestyle during my younger years... I'd rather have a healthy amount of cash coming in every month from several sources and retire early. Or at least 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 terms"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 immediately begin having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You quickly snap into it, take a sip of your Monster Energy drink, and try to remain alert while on your own 24-hour responsibility at the barracks. .

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Can be a blissful and passive lifestyle really possible Is it Feasible to plan my army career for closer to such a lifestyle

An asset is something that puts money in your pocket every month. It is a lifestyle and wealth multiplier.

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A liability is something that takes money from you every month. It may be a temporary lifestyle enhancer, but a long-term way of life and prosperity killer.

Educate yourself to this point that you can find and purchase American Real Estate which you rents at a higher price that all its expenses and there's still a significant amount left over. The leftover money is that stream of income or cash flow.   Finally, when we begin looking at these income streams collectively, it becomes known as"residual income." .

Admittedly, setting up your own Real Estate Investing Business is NOT simple... however, with the proper education, Real Estate Investing does NOT have to be difficult.  But you must learn and act.

Now, if you all of the above makes sense, a funny thing will start happening.  When you start talking to folks about finances you will soon begin to realize there are two different kinds of people in this 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 produce income while costing very minimal personal effort or time. Even though one of these ended up costing me a million dollars each month but made two million dollars each month, it is an advantage.

Honestly, who cares how much You're spending on an asset every month if it earns you more than what you spend Now let's take it one step further... what if the spending was automatic and was the earning

If there was a machine that spit out two dollar bills after you gave description it a single dollar bill, you would be glued to this machine all day! In addition, you wouldn't care if this machine charged you 50 percent interest on your dollar before generating one of the two dollars it spit out. .

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Because passive income inherently means that 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 who hear the word get disappointed when they realize there is a great deal of education and a few significant setup 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 some of my military and veteran mentors. .

As members of the military, we often think it would be very difficult, or perhaps even impossible, for us to find time to earn extra income. So far as our professional prioritiesour military service should be in the very top. So how can we ensure that we are setting our new real estate investing business up for enormous success How can we make sure it doesn't produce more anxiety than enjoyment.

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

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