Ways to Make Enough Side Money In Real Estate to Eventually Quit Your Job...
Nearly
everyone dreams of quitting his or her day job, whether it's tomorrow,
next year or in the next decade. However, there is a wide chasm between
"dreams" and "action" that many people never seem to cross -- and it's
usually due to finances.
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Obviously, if you want to quit, you need to find another way to make enough income to pay your bills, save for the future and enjoy life. But what's the best way to do this? How can you make enough "side income" now so you can quit your job in the near future?
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Here are five great ways to make side income while still working your day job..
owning assets that produce income, which led me to real estate. Real-estate investing is not always passive, and not always easy, but it can be highly profitable
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- Flip houses
- Own rental houses
- Own vacation rentals
- Rent out duplexes, triplexes and fourplexes
- Buy and rent out apartment complexes
Real-estate investing is my favorite way to create side income because it runs like a locomotive.
It might take a little time to build up, but once it's running, it goes a long way with less effort and is hard to stop.
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Things to Know About Real Estate Investments
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Things to Know About Real Estate Investments
REITs and real estate ETFs are great ways to diversify a portfolio, but be careful not to overdo it.
Real Estate Securities
It can provide great dividends. Your home might give you psychic dividends, but your real estate investments can pay handsome cash dividends.
Take real estate investment trusts – they tend to pay high dividends with REIT ETF
If you decide to buy individual REITs, you need to know that there are many different types
Real Estate Securities
Stock in a corporation that owns a particular building or project. Early development pioneers sold stock in buildings to be constructed, thus largely eliminating the need to borrow construction money.
• In the 1950s, real estate syndication emerged, with limited partnership interests being offered to the public. They were popular for a few years and then interest waned.
• By 1960, Congress authorized creation of real estate investment trusts (REITs) which would produce favorable tax advantages for investors. Most early REITs were mortgage REITs (ownership of mortgages) rather than equity (ownership of property) investments.
• In the 1980s limited partnerships and syndications became popular again as large, nationwide firms entered the picture as underwriters and promoters.
Passage of dramatic tax law changes in 1986 took away many of the tax incentives for this vehicle, leading to its near demise.
• In the 1990s, investment in equity-REITs took off, with that becoming the predominant real estate security for investors...
What is a Security? Is Real Estate a Security?
Any
note, stock, treasury stock, security future, bond, debenture, evidence
of indebtedness, certificate of interest or participation in any
profit-sharing agreement, collateral-trust certificate, preorganization
certificate or subscription, transferable share, investment contract,
voting-trust certificate, certificate of deposit for a security,
fractional undivided interest in oil, gas, or other mineral rights, any
put, call, straddle, option, or privilege on any security (including a
certificate of deposit) or on any group or index of securities
(including any interest therein or based on the value thereof), or any
put, call, straddle, option, or privilege entered into on a national
securities exchange relating to foreign currency, or, in general, any
interest or instrument commonly known as a “security
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