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Imagine if you had two individual sources earning you $250 paychecks ($500 total) each month without you doing extra work. And these resources simply paid for your car expense.

Have I beaten this concept to death at this point Great. 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 wealthy when I was 65 if it cost me my lifestyle during my younger years... I'd rather have a healthy amount of money coming in each month from various resources and retire early. Or at least do WHATEVER I wanted after the military without having to consider the paycheck coming from my new hobby, job, or even job as a portion of the equation.

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Both terms"residual income" and"passive income" attempt to capture the same 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 start 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 awake while on your own 24-hour responsibility at the barracks. .

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Can be a blissful and lively lifestyle actually possible Is it Feasible to plan my military career for closer to such a lifestyle

An asset is something which puts money in your pocket each month. It's a lifestyle and prosperity multiplier.

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A liability is something that takes money from you each month. It might 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 buy American Real Estate which you rents in a higher cost that all its expenses and there is still a significant amount left . The leftover cash is that flow of income or cash flow.   Finally, when we start looking at such income flows 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 need to be hard.  However, you must learn and act.

Now, if you all of the above makes sense, a funny thing will begin happening.  When you begin talking to folks about finances you will soon begin to understand 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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Each of those that site entities are money making systems. They produce income while costing very minimal personal work or time. Even though one of those ended up costing me a million dollars each month but produced two million dollars each month, it is an advantage.

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

When there was a machine that spit out two dollar bills after you gave it a single dollar bill, you'd be glued to this machine all day! Moreover, you wouldn't care if this machine billed you 50 percent interest on your dollar prior to generating one our website of the two bucks it spit out. .

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Because 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 recognize there's a great deal of education and a few significant setup required on the front end of the journey to financial freedom (our"Why"). Again, this isn't a get rich quick scheme, but it is a hell of a lot better than what I had been taught by some of my army and veteran mentors. .

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

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

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