What Are the Best Delivery Routes to Own? [4 Great Options]

Delivery routes can be highly profitable businesses that provide stable yet passive income to the business owner.   We are going to be discussing the 4 best types of delivery routes you can own. They are as follows: FedEx Delivery Routes Bread Routes Vending Machine Routes ATM Machine Routes Honorable Mention:  Another popular option is a personal …

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How to Buy a Business With No Money: 9 Strategies That Work

Buying a business can be a great way to generate solid returns on your investment or even begin a new career path as an entrepreneur. But it can be expensive.  A quality business that is generating solid income will not come cheap. Of course, financing may be available for many businesses, but you are likely still …

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Collage of franchise businesses that can generate passive income

The Best Franchises for Passive Income: 7 Examples

I love the idea of a franchise business. You get to be a part of an established brand and can operate under a proven business model.  What’s even better is that some franchises can be structured to generate passive income.   How is this done?   In most cases, all you need to do is put in place …

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How to Achieve FIRE Fast: 6 High Cash Flow Strategies

The FIRE movement consists of people who want to retire early with a nest egg that can fully support their living expenses.  FIRE (short for Financial Independence, Retire Early) sounds like an awesome goal to me. The problem is that most people try to achieve FIRE by radically cutting expenses and saving every penny left …

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How to Start an ATM Business with No Money [9 Strategies]

Did you know that you could buy an ATM and make money each time someone makes a withdrawal from that ATM?  The ATM business can be very lucrative and if structured correctly, can provide the owner with a steady stream of mostly passive income. Don’t have any money to start an ATM business?  We got …

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How to Run Your Laundromat as an Absentee Owner: A Beginner’s Guide

Want to invest in a profitable, reliable, recession-proof business with a incredibly high success rate (95%) where machines do most of the work? Owning a laundromat will allow you to do just that.  And if you structure it properly, you can enjoy passive income as an “absentee owner” of that business.  Being an absentee owner …

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Absentee Ownership of FedEx Routes: A Beginner’s Guide

Want to invest in a business that generates a great ROI and partner with one of the most respected brands in the world? By buying a FedEx route, you can do exactly that.  And if you structure it properly, you can enjoy passive income as an “absentee owner” of that business.  In simple terms, being …

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Truck Investing for Passive Income: 3 Strategies that Work

Interested in learning how you can make passive income by investing in trucks? Sounds a bit odd, I know, but there are some great ways to do this (and the ROIs can be impressive).  In this article, we will discuss 3 strategies that you can use to generate passive income through truck investing. We will …

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How to Start a Mobile Billboard Business in 7 Easy Steps

Did you know that billboards are now mobile? That means you can buy a truck that has billboards on the side and sell that advertising space to companies.  This is a big deal because one of the hurdles in getting into the billboard business is finding a location that allows billboards. Most municipalities have very …

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Best Absentee Businesses of 2021 [Incl. 12 Examples]

Want the incredible ROI of a profitable business but don’t want the headaches associated with running one? The absentee-run business may be perfect for you.  An absentee business is one where the owner does not run the day-to-day operations of the business. Instead, they have a management team and employees performing this essential function.   If done …

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Start a Passive Self-Storage Business: 7 Easy Steps!

Want to own a profitable and passive real estate business where you don’t have to deal with tenant complaints, broken toilets, and the usual hassles that come with managing rental properties? The unmanned self-storage facility may be the perfect passive income solution for you. With this type of self-storage operation, you can enjoy a combination …

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What Businesses Are Good for Passive Income? [9 Examples]

Want the high ROI of a profitable business but don’t want the headaches associated with running one? A passive income business may be perfect for you.  It’s as close as you can get to having your cake and eating it too.  So how do you figure out which businesses are compatible with generating passive income?   Businesses …

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Get Paid to Be Someone’s Friend [Incl. Tips to Max Your Income]

If you have some spare time, enjoy being with people, and want to make some extra money, you can get paid to be someone’s friend by renting out your companionship.   There are several online “rent-a-friend” platforms out there that specialize in connecting people who want a friend with people willing to rent out their friendship …

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How to Use Debt to Create Passive Income: 6 Ways That Work!

Most people view debt in a negative light. But the prudent use of debt to buy income-producing assets is a proven path toward building wealth. I used this basic principle to grow my net worth from a negative amount to millions. In this article, we will cover how to use debt to create passive income.  We …

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Why Passive Income Is Important: [Plus 6 passive income ideas that work]

Passive income is the pinnacle of personal finance. That’s because it gets you to the final destination along your financial journey.  Here’s what I mean. Most people spend their entire life working at a job. They are at the mercy of their employer and, while some people love their job, many don’t.  They tolerate it …

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How to Start a Passive Laundromat Business: 6 Easy Steps!

Laundromats can be a terrific source of income if you are looking for a profitable, reliable, recession-proof business that enjoys an incredibly high success rate. What’s better is that you can structure your laundromat business to provide passive income to you. With the right processes, equipment, and workers in place, you can make the business …

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Want to Finance Rental Properties When Self-Employed? 3 Strategies That Work!

Being self-employed can be amazing. You are your own boss and don’t answer to anyone. It’s incredibly liberating and that’s a big reason why people leave their jobs to become self-employed. But you obviously lose some of the predictability that comes with having a “normal” job, like a steady income and benefits. Because you don’t …

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Lease Options vs. Rental Properties: Which is Better?

Buying lease options is a little-known investing strategy that has been used by real estate investors to control real estate at low cost while generating strong cash flow. Rental property investing, on the other hand, is a tried and true investing strategy that everybody knows.  This form of investing has a host of advantages, including …

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Start a Bounce House Business in 4 Easy Steps

Kids love bounce houses.  I have two boys and know this firsthand.  They can spend hours running, jumping, and playing with their friends on these inflatable structures.  Bounce houses definitely have something (some sort of magnetic quality) that draws children to them and compels them to climb in and starting jumping around.   Parents know this.  …

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Owning Billboards For Passive Income: A Beginner’s Guide

Billboards have been around for a long time and they are everywhere. Companies pay big bucks to get their advertisements on billboards because they know that they work. Why does this matter?  Because if you own a billboard, you too can profit from this $6.5 billion industry. Source: IBIS World So you know there is …

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Automate Rental Property Management: A Landlord’s Guide

There has never been a better time to automate your rental property management.   Advancements in technology now allow landlords to automate many of the key property management functions that used to take up a lot of time and energy. If you are a landlord self-managing your properties, this is great news.   This guide will explore …

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Vending Machines As Passive Income: A Beginner’s Guide

We see vending machines everywhere.   The sales from those little candy bars, potato chips, and sodas create a huge market. In the U.S. alone, vending machines take in an estimated $20 billion to $30 billion in annual gross sales. Source: Chron So we know it can be profitable.  But the real pull of a vending …

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Real Estate Crowdfunding vs. Rental Property Investing: Which Is Better?

Rental property investing has been around forever and is a tried-and-true way of making money in real estate.  Real estate crowdfunding is the relative new kid on the block, but is taking the real estate investing world by storm. Which is better?   Real estate crowdfunding is the better investment strategy if you want a passive, …

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Buying a Blog For Passive Income? 10 Risks You Can’t Ignore

If you are an investor looking for passive income, buying a blog can be an appealing option.   Unlike other online businesses, buying an existing blog can generate income without you having to do anything.  There is no inventory to manage, no customer complaints to address, and no employees to supervise.   Blogs are generally monetized through …

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Buying a Blog For Passive Income? What You Need To Know

Are you looking for a passive income investment that can potentially yield over 30% returns annually?  Sounds too good to be true, I know. But, if done correctly, buying a blog for passive income may do just that. Unlike other some online businesses, buying an existing blog can generate passive income without you having to …

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Do Townhouses Make Good Rental Properties?

As an investor, you are always looking for the best rental property investments.  Single-family homes dominate the investor landscape, but the underappreciated townhouse may be worth a look.  Townhouses can make good rental properties because they are more affordable than single-family homes, but they offer privacy and a lifestyle that’s nearly on par with them.   …

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Introduction to HSAs: What You Need to Know

You have probably heard of HSAs by now, right?  If not, I want to let you know right from the outset that these tax-advantaged accounts are amazing and are among my favorite savings and investment vehicles. Health Savings Accounts (HSAs) have been growing in popularity since their introduction in 2003.  According to a 2018 study …

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What Are the Biggest Rental Property Investing Scams?

Nobody wants to get played.  But it happens more often than you think.  What Are the Biggest Rental Property Investing Scams? The five biggest scams targeting rental property investors and landlords are (i) real estate guru scams, (ii) tenant scams, (iii) contractor scams, (iv) overpayment scams, and (v) out-of-state investing scams. We’ll talk about each …

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Investing in Rental Properties Through Your Self-Directed HSA

You’ve probably heard of Health Savings Accounts or HSAs by now.  They are a benefit offered by some employers to help their workers pay for qualified medical expenses in a tax-advantaged way.   HSAs are perfectly suited for their main purpose, which is saving money when paying for medical costs.   But that’s not all they can do.  There’s …

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House Hacking vs. Room Renting: Which is Better?

As advertised, this article is going to pit house hacking against room renting (which is just renting out rooms in your house).  These are two very popular rental investment strategies among real estate investors that are starting out.   So which is better? House hacking is the better investment strategy if you want superior cash flow, …

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Unconventional Is Better: Don’t Have a “Regular” Emergency Fund

“You need 3 to 6 months of living expenses in a checking or savings account in the event of an emergency.”  -Almost every personal finance advisor That advice has been circulating for years and has become a cornerstone of personal finance. I don’t take issue with the view that you should have funds quickly available …

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Should I Rent Out My Investment Condo Through Airbnb?

Investment condos can be particularly well-suited for use as an Airbnb rental because: Condos Have Lower Fixed Costs Condos Are Self-Contained Dwelling Units   Condo Locations Can Be Airbnb Suitable Condos Have Great Amenities Condos Are Smaller – No Large Gatherings Thinking about converting your investment condo into an Airbnb rental property?   You’ve come to the …

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Investing in Small Multifamily Properties: The Goldilocks Investment

Small multi-family properties can be great investments because they combine some of the best features of apartments and single-family homes into a balanced investment that can generate strong cash flow, diversified income, and scalability, while remaining affordable and easy to finance. This chart demonstrates why they are the “Goldilocks” of rental properties: Features   Apartment …

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Are Apartments a Good Investment?

Apartments can be good investments because they can provide strong cash flow, appreciation that you can control, diverse income sources, scalability, centralized maintenance, and significant tax benefits. Apartments are coveted by many real estate investors for their powerful cash flow and other benefits, but there are also risks to investing in apartments that need to be …

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10 Easy and Profitable Ways to Sell Your Unwanted Stuff Online

Want to make some extra cash in a hurry without doing a ton of work?  There is no better way to do that than selling some of your unwanted items online.   Everybody knows about the standard methods of selling items online like eBay and Craigslist (and we cover them below), but the really cool options are …

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How Can I Start Investing in Rental Properties? A Step-By-Step Guide

Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. Andrew Carnegie Real estate can be a terrific investment and has been a proven path toward long-term wealth.  There’s a reason why so many people throughout the years have found …

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How Can I Start Investing in Condos? A Step-By-Step Guide

Condos can be a terrific rental property investment, especially if you are new to investing in real estate and are looking for a more affordable way to get into this asset class.  The well-known benefits of condo investing include monthly cash flow, appreciation, tax shelters, mortgage payments made by your tenants, and mortgages that allow …

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Want to Make Money Renting Out Extra Storage Space? Here’s how

According to Neighbor, you can earn up to $15,000 per year renting out your extra storage space.  That’s a pretty eye popping number (and like with most things, I would take it with a grain of salt).  That being said, it seems like a super easy way to earn some extra passive income with something …

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I Am Not Rich (Yet) – Can I Still Invest in Private Equity?

SpaceX, wework, Airbnb, Instacart, and Robinhood are just a few of the incredible private companies in America.  Many are poised to generate incredible profits for their shareholders.  The only problem is that you normally can’t buy into these types of companies unless you are an “accredited investor.”  More on that later, but an accredited investor …

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Condos – Are they Good Rental Property Investments?

Condos can be a profitable, affordable, and low-hassle option if you want to invest in real estate.  But they carry a unique set of costs and risks that you should understand before buying.  They include HOA fees, condo association rules and restrictions, and special assessments that may be charged to cover condo association expenses.    I …

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Change Your Mindset About Money and Unlock Financial Success

For me, the key to a successful financial life starts with prioritization.  There are many areas of life that compete for your time and attention.  Your health, family, friendships, religion (if you practice) all play a role in how you define happiness and success.  For some, money does not rank very highly, but if you …

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How to Make the Most of Your Employee Stock Purchase Plan (ESPP)

You can maximize your ESPP by taking of advantage of (i) stock price discounts offered by many ESPPs (ii) dollar-cost averaging through automated payroll deductions; (iii) lower capital gains tax rates if you use a long term hold strategy; and (iv) a “locked in” profit if you sell immediately using a quick sale strategy.   Those …

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How to Make the Most of Your Flexible Spending Account (FSA)

You can maximize your FSA benefits in three ways:  Take advantage of tax breaks you receive on money you contribute to your FSA Receive free money from your employer in the form of matching contributions (if offered)   Use your FSAs to cover common everyday spending categories like medical expenses and dependent care (may cover transportation …

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How to Make the Most of Your Health Savings Account (HSA)

Want to get tax-deductible contributions, tax-free growth, and tax-free withdrawals for your retirement? The HSA will deliver on that and more.  This is absolutely one of my favorite tax-advantaged accounts. Let’s get into this! Table of Contents What is an HSA? An HSA is a tax-advantaged account that is offered with a high deductible health …

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