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Imagine if you had two separate sources earning you $250 paychecks ($500 total) per month without you doing additional work. And these resources just paid for your car expense.

Have I beaten this concept to death at this point Good. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is what Real Estate Investors predict Cashflow.

Again, I understood that I DID NOT want to be rich when I was 65 if it cost me my life during my younger years... I would rather have a healthy amount of money coming in each month from several resources and retire early. Or do WHATEVER I wanted after the military without having to consider the paycheck coming from my new hobby, project, or even job as a portion of this equation.

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Both conditions"residual income" and"passive income" try 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 instantly begin having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You immediately snap back into it, have a sip of your Monster Energy drink, and try to stay alert while on your own 24-hour responsibility in the barracks. .

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Can be a blissful and lively lifestyle really possible Is it Feasible to plan my military career to get nearer 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 which takes money from you every month. It may be a temporary lifestyle enhancer, but a long-term way of life and wealth killer.

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

Ironically, setting up your own Real Estate Investing Business is NOT easy... however, with click resources the correct education, Real Estate Investing does NOT need to be difficult.  However, you have to learn and act.

Now, in case you all of the above makes sense, a funny thing will begin happening.  When you start talking to people about finances you'll soon begin to understand that there are two different kinds of people in this world: those who understand the difference between an asset and a liability, and the ones that will NEVER be wealthy. .

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Every one of those entities are money making systems. They produce income while costing very minimal personal work or time. Even if one of these ended up costing me a million dollars each month but made two million dollars a month, it is an asset.

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

When there was a machine that spit out two dollar bills once you gave it a single dollar bill, you would be glued to that machine all day! In addition, you wouldn't care whether this machine billed you 50 percent interest on your dollar before generating one of the two bucks it spit out. .

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Because discover this passive income inherently means I do not have to spend the most expensive thing in life, time, in order to earn a certain amount of residual income.

Since some people that hear the word get disappointed when they realize there's a lot of education and a few significant set up needed on the front end of the journey to financial freedom (our"Why"). Again, this isn't a get rich quick scheme, but it's a hell of a lot better than what I had been taught by a number of my military and veteran mentors. .

As members of the army, we often believe it would be very hard, or maybe even impossible, for us to find time to earn additional income. So far as our professional priorities, our military service must be at the very top. Just how can we ensure that we're setting our new real estate investing business up for enormous success How can we make sure that it doesn't produce more stress than pleasure.

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

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