Real Estate and Crypto: Passive income to financial freedom

3년 전

What is Passive Income?

Let money make money without you trying to actively make money... LOL

My favorite 2 ways of making passive income are crypto and real estate.

My Plan:

The easiest way to start earning passive income is starting a Steem account and powering up!

Powering up Steem combined with being active in the community would help you start making money with very little amount of money. Aside from Steemit, if your power is cheap enough, I would definitely look into cryptocurrency mining and signing for up airdrops. This is all "free money" and the return of investment is huge.

If you learn additional skills, you can get into day trading and other riskier projects, but the end game is always to protect your profits through a safer investment. Don't invest more than you can lose, but if you make profit, don't be greedy or you risk being stuck holding a bag.

Once my crypto investment started to have decent cash flow, I pulled out a mortgage to purchase a home!

For me, as long my cash flow from crypto and real estate rent can cover my mortage plus I have something extra every month then you can start living better.

House hacking was my first endeavor.

I bought a shipping container and made 2, 2 bedroom units.

The land was $50,000 and the finished containers for housing cost me $50,000 for a total of a $100,000 investment.

Left front.jpg

You're probably saying how am I ever going to get $100,000?!!?

What if I said if you put in a little work to find a good bank or loan you can get this for as little as 10% down payment - 20% down payment?

If I put 20% down payment for $100,000, I need $20,000 cash. This sounds much more doable than $100,000 now doesn't it? A $80,000 loan for 30 years. Let's break down the math.

Mortgage Repayment Summary:

$488.68
Monthly Payment

Jan, 2048
Loan pay-off date

I will be paying $488.68 per month for 30 years. But.... I am living in 1 of the unit, while renting the other unit out for $900 a month. Not only am I not paying my own rent, I am also receiving over $500 in cash flow to live in the house!

ANYONE can do this and it just requires a little more time devoted into their way of financial freedom.

Once you start making this amount of cash flow, you can revinvest the cash flow into other projects or get more credit to start another real estate project!

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That's awesome! What city was this is in and what are your future investing endeavors?

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I'm in Guam! Future endeavors in the next post :)

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GUAM NIce!!! Was out there a few years back, loved it. The liquor and party laws were lame though but i found out how to party after hours. Nice investment tips man. I wonder if turning shipping containers into homes could work in Japan, gotta check that out.

Passive income AND compound interest are the keys to financial freedom. Start savings and "passively" investing when you are young! I write about finance topics too! Come check us out! :)

This actually got me thinking hard....
How much Sbd does one need to power up?

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You can power up as little as your want :)

I like the way you think. This is exactly how i am doing now. Although people always tell me when will you get enough. I would always reply time will tell no one will become millionaire in a day. Will let you know when the time comes. Like bitcoin.

This post has received gratitude of 1.63 % from @appreciator thanks to: @johnny-appleseed.

Great, thanks for sharing it.