Q&A: I have about 80 thousand usd saved up and would like to get some advice on how to start bringing in passive income Ive been looking really hard at real estate as well. If anyone with any advice could help me get a good or different perspective on this it would be greatly appreciated. I would love to work part time to pay for my kids college while living off of the passive income.
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You could always rent out a house or a room or you could invest in a bond fund.
jeremy:
Your look at real estate may be one of your
better options. Prices have come down, and
the kind of debt you would be taking on is
considered good debt, because it has the
potential of making money, v "bad" debt,
like credit cards, a form of consumption
and payment of high interest, as a penalty
for wasted use of money.
Find a rental building, for example, in a
solid neighborhood where stability is going
to minimize turnover and empty rental units.
In today’s economy, with so many people
losing jobs, that is harder to do. That
would be your downside.
The upside is, if the cash flow is positive,
you have your passive income, and at
what should be somewhat depressed prices,
you may enjoy some healthy appreciation of
value, over time.
Crunch the numbers for a few possibilities,
and some answers may become more
apparent.
Cheers!
Hi, real estate, oil and natural gas properties (Limited Partnerships) are a couple of good choices.