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re: How do I build passive income?
Posted on 11/12/19 at 4:18 pm to DeafJam73
Posted on 11/12/19 at 4:18 pm to DeafJam73
I love threads like this as i'm thinking daily on how I can create additional revenue streams. I own a business and have a 5 figure sum sitting in a bank account that I want to do something with. I have thought of investing in a duplex as a first time real estate purchase, letting that materialize until I could build up capital to buy another duplex. Ultimately having the funds available to have several duplex's and then purchase a small apartment community after liquidating the duplex's. I've also thought about purchasing a FEDEX route or a bread truck route, but have read horror stories about those type of investments due to relying on someone else. There is so much opportunity out there that I haven't taken advantage of due to just not having time to complete my due diligence. I can't put the money into a Roth as I make too much money. I've thought about putting it into the stock market, but have a fear that the market is going to shrink faster than it's going to grow in the next year.
Threads like this give me ideas that I haven't thought of and perspective from other people. So, thank you to the MB for the replies. There's no quick way to earn cash flow right now so patience is your best friend.
Threads like this give me ideas that I haven't thought of and perspective from other people. So, thank you to the MB for the replies. There's no quick way to earn cash flow right now so patience is your best friend.
Posted on 11/12/19 at 4:57 pm to CHiPs25
quote:Look into backdoor Roths
I can't put the money into a Roth as I make too much money
Posted on 11/12/19 at 8:54 pm to CHiPs25
read it
quote:
I love threads like this as i'm thinking daily on how I can create additional revenue streams. I own a business and have a 5 figure sum sitting in a bank account that I want to do something with. I have thought of investing in a duplex as a first time real estate purchase, letting that materialize until I could build up capital to buy another duplex. Ultimately having the funds available to have several duplex's and then purchase a small apartment community after liquidating the duplex's. I've also thought about purchasing a FEDEX route or a bread truck route, but have read horror stories about those type of investments due to relying on someone else. There is so much opportunity out there that I haven't taken advantage of due to just not having time to complete my due diligence. I can't put the money into a Roth as I make too much money. I've thought about putting it into the stock market, but have a fear that the market is going to shrink faster than it's going to grow in the next year. Threads like this give me ideas that I haven't thought of and perspective from other people. So, thank you to the MB for the replies. There's no quick way to earn cash flow right now so patience is your best friend.
Posted on 11/13/19 at 9:36 am to CHiPs25
The ideal method to fund your stock market Acct would be to dollar cost average each month, then if there’s a sudden drop it should be lessened to only the recently bought shares.
I’ve been doing the same with cash, but recently bought a house near the beach to enjoy that vs investing more. It was pretty cheap and I can likely flip it for a tidy profit after only 6 months of owning.
I’ve been doing the same with cash, but recently bought a house near the beach to enjoy that vs investing more. It was pretty cheap and I can likely flip it for a tidy profit after only 6 months of owning.
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