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 …
What Are the Best Delivery Routes to Own? [4 Great Options] Read More »
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 …
How to Buy a Business With No Money: 9 Strategies That Work Read More »
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 …
The Best Franchises for Passive Income: 7 Examples Read More »
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 …
How to Achieve FIRE Fast: 6 High Cash Flow Strategies Read More »
Coast FIRE is when you have saved enough money that you don’t need to continue contributing to your retirement funds to meet your future retirement goals. It’s a variant of the FIRE movement, which stands for Financial Independence, Retire Early. Under regular FIRE, you scrimp and save until you have amassed enough money to quit …
If you are here, you are probably already familiar with the FIRE movement, which stands for Financial Independence, Retire Early. Barista Fire is a type of FIRE, but with the goal of retiring early from your job even if you don’t have enough money to do so. The assumption is that you have saved up …
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 …
How to Start an ATM Business with No Money [9 Strategies] Read More »
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 …
How to Run Your Laundromat as an Absentee Owner: A Beginner’s Guide Read More »
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 …
Absentee Ownership of FedEx Routes: A Beginner’s Guide Read More »
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 …
Truck Investing for Passive Income: 3 Strategies that Work Read More »
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 …
How to Start a Mobile Billboard Business in 7 Easy Steps Read More »
Want to get 20% ROI on your investments? We have four reliable strategies that have the potential to get you there (with 8 real examples, backed by data). Now I don’t mean one-shot deals. I am talking about steady investments where you can consistently earn over 20% ROI year after year. Contrast that with the stock …
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 …
Best Absentee Businesses of 2021 [Incl. 12 Examples] Read More »
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 …
Start a Passive Self-Storage Business: 7 Easy Steps! Read More »
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 …
What Businesses Are Good for Passive Income? [9 Examples] Read More »
If you are here, you are probably already familiar with the FIRE movement, which stands for Financial Independence, Retire Early. FatFIRE is a type of FIRE, but with the goal of having a luxurious retirement to boot. It’s a tall order. Many people seeking to achieve leanFIRE (which is retiring early with a frugal lifestyle) …
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 …
Get Paid to Be Someone’s Friend [Incl. Tips to Max Your Income] Read More »
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 …
How to Use Debt to Create Passive Income: 6 Ways That Work! Read More »
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 …
Why Passive Income Is Important: [Plus 6 passive income ideas that work] Read More »
The vast majority of financial advisors will tell you that debt is bad. And in many cases, that’s true. If you are struggling to make payments each month on your credit cards or student loans, then you need to address that. But if you are in a situation where your personal debt is under control, you …
Use Debt to Get Rich? 7 Strategies I Used to Make 7 Figures Read More »
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 …
How to Start a Passive Laundromat Business: 6 Easy Steps! Read More »
ATMs are everywhere. That’s because when you need cash in a hurry, they offer a convenient and quick solution. But did you know that many of those ATMs are owned by people like you and me? I am not talking about those ATMs that are clearly affiliated with a big bank or financial institution. I …
How to Start an ATM Business: A Step-By-Step Guide Read More »
If you are a real estate investor looking to do a lease option deal, one of the biggest challenges you will face is finding owners who are willing to enter into lease option contracts with you. Lease option arrangements can offer owners some great benefits, but most owners who are in the market to sell …
How to Find Lease Option Deals: 6 Strategies that Work! Read More »
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 …
Want to Finance Rental Properties When Self-Employed? 3 Strategies That Work! Read More »
It’s hard to build and manage a rental property business. I know this for a fact – I own nine properties and self-manage them while holding down a full-time job. If you are a landlord too, I am sure you can relate. So it only makes sense to preserve what you have built with …
Umbrella Policy vs. LLC: Which Is Better for Landlords? Read More »
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 …
Lease Options vs. Rental Properties: Which is Better? Read More »
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. …
Did you know that you could buy a bread route and make money off every loaf of bread that you sell to supermarkets and huge retailers in your territory? I am talking about selling well-known bread brands, like Wonder, Nature’s Own, Pepperidge Farm and Sara Lee to major retailers like Walmart and Target. And the …
Did you know that you can buy FedEx routes and make money off every delivery that is made in your territory? It’s a business model that has been around for a long time now and there is a vibrant marketplace for FedEx delivery routes. In this article, we will provide a guide to buying FedEx …
Want to earn passive income with a great ROI and partner with one of the most well-known and respected brands in the world? You may want to consider buying a FedEx route. This beginner’s guide will give you an overview of the FedEx route buying process, including (i) where you can buy these routes, (ii) …
FedEx Routes For Passive Income: A Beginner’s Guide Read More »
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 …
Owning Billboards For Passive Income: A Beginner’s Guide Read More »
People love their cars. Not only do their cars get them around, but they can also be a source of pride. Part of maintaining your car is keeping it clean and free of dirt, bugs, bird droppings, salt, and grime. A car wash is the easiest and most convenient way to keep it clean. If …
Automatic Car Washes for Passive Income: A Beginner’s Guide Read More »
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 …
Automate Rental Property Management: A Landlord’s Guide Read More »
If you are a real estate investor and want to grow your rental portfolio, you are eventually going to run out of money to buy new properties. That’s true whether you start with $1,000 or $1 million. Once you buy enough properties, your funding is going to run out. I’ve been there and know the …
How to Keep Buying Rentals When You Run Out of Money Read More »
We see ATMs everywhere. When you need cash in a hurry, they are really the only option, unless you have a bank branch nearby. But did you know that many of those ATMs are owned by people like you and me? I am not talking about those ATMs that are clearly affiliated with a big …
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 …
Vending Machines As Passive Income: A Beginner’s Guide Read More »
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, …
Real Estate Crowdfunding vs. Rental Property Investing: Which Is Better? Read More »
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 …
Buying a Blog For Passive Income? 10 Risks You Can’t Ignore Read More »
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 …
Buying a Blog For Passive Income? What You Need To Know Read More »
Does your heart skip a beat when you get a call from your tenant saying they won’t be renewing their lease? Or even worse, that they need to terminate their lease early? I get it – it’s awful news. Your rental property may sit vacant for months. You must continue to shell out the mortgage …
Best Ways To Reduce Vacancy for Your Rental Property Read More »
Want to get started in real estate investing but don’t have a lot of money, great credit, or a high income? You may want to look into sandwich lease options. The sandwich lease option is a variation of the lease option, which is more commonly known as a “rent to own” arrangement. Normal lease option …
If you are a landlord looking to boost your cash flow and get tenants who will treat your place like their own, you may want to look into lease options. Landlords have been using lease options for decades. Often referred to as “rent-to-own” agreements, they are an alternative way to buy, rent, and sell investment …
Interested in real estate investing, but don’t have money for a down payment? Can’t qualify for a mortgage because of bad credit or low income? If this applies to you, the lease option strategy may be your answer to start investing in real estate. This creative strategy, sometimes known as “rent to own,” can be …
Should I Invest In Real Estate Through Lease Options? Read More »
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. …
If you have ever struggled to make ends meet each month, you know the importance of having a good budget. But if you are like me, you have tried countless times to stick to a budget without much luck. Sometimes the budget failed because you lost track of how much you spent. Other times, it …
I hate budgeting. I always had trouble with it. Keeping track of expenses, curbing my spending, and making sure to pay the bills on time felt like a chore. And who has time for it? Life sometimes just takes over. To top it all off, finding anything left over at the end of the month …
Looking for the ultimate guide to investing in real estate at every price range? This is it. We have put together an extensive list of real estate investing options conveniently categorized along key price points. So whether you have less than $1,000 or more than $250,000, we cover it. Let’s get into it! This post …
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 …
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 …
What Are the Biggest Rental Property Investing Scams? Read More »
Achieving financial success is not reserved for those lucky enough to have the “Midas touch” or who are “good with money.” That is a myth and believing it can keep you from realizing your financial potential. The truth is that financial success can be learned. There are a lot of financial principles and strategies out …
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 …
Investing in Rental Properties Through Your Self-Directed HSA Read More »
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, …
House Hacking vs. Room Renting: Which is Better? Read More »
“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 …
Unconventional Is Better: Don’t Have a “Regular” Emergency Fund Read More »
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 …
Should I Rent Out My Investment Condo Through Airbnb? Read More »
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 …
Investing in Small Multifamily Properties: The Goldilocks Investment Read More »
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 …
Most people are intimidated by the idea of investing in real estate because they think that you need a lot of money to do it. While having a giant down payment does makes it easier to buy rental property, you can definitely start investing even if you don’t. We’ve got some really cool and creative …
Have you ever driven past a free-standing McDonald’s or Burger King and wondered who owned the building? Well, wonder no more because there’s a pretty good chance that it is just a regular person like you. They just happen to be leasing that building out to the mega corporation (or its franchisee) under a …
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 …
10 Easy and Profitable Ways to Sell Your Unwanted Stuff Online Read More »
Thinking about investing in rental properties through your IRA? You’ve come to the right place. We will answer all of the key questions you may have about this strategy. This post may contain affiliate links. If you click on a link and complete a transaction, I may make a small commission at no extra cost …
Investing in Rental Properties Through a Self-Directed IRA Read More »
I bet most people would be surprised to hear that they can use their brokerage account to buy a rental property, but it’s true. You may use funds borrowed from a margin account to purchase real estate. But there are risks involved in using margin accounts for this purpose, including the possibility of a margin …
I love passive income, especially if it does not require any money for me to get started. I suppose it’s great for everyone, but it’s perfect for people who are too busy to take on a second job or a side gig. In researching this article, I encountered a lot of lists about passive income …
15 Ways to Make Truly Passive Income That Require No Money Read More »
One of the best financial decisions I ever made was getting a second source of income. I was doing ok at my job but wanted to see if I could boost my income because I was starting a family. I knew things were going to get tight. I started looking into rental properties. After a …
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 …
How Can I Start Investing in Rental Properties? A Step-By-Step Guide Read More »
People can make on average $706 per month renting our their cars according to Turo, the largest peer to peer car-sharing marketplace. That number certainly caught my eye. If you are not using your car all the time and you don’t mind renting it out to the public, then car sharing, which is basically like …
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 …
How Can I Start Investing in Condos? A Step-By-Step Guide Read More »
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 …
Want to Make Money Renting Out Extra Storage Space? Here’s how Read More »
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 …
I Am Not Rich (Yet) – Can I Still Invest in Private Equity? Read More »
The 1 bedroom condo is a popular choice among young people starting out who want to buy their first home. It is affordable and often located near urban centers, so it’s a sensible and attractive option. But how is it as an investment property? Well, I own a handful of them and can say with …
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 …
Condos – Are they Good Rental Property Investments? Read More »
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 …
Change Your Mindset About Money and Unlock Financial Success Read More »
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 …
How to Make the Most of Your Employee Stock Purchase Plan (ESPP) Read More »
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 …
How to Make the Most of Your Flexible Spending Account (FSA) Read More »
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 …
How to Make the Most of Your Health Savings Account (HSA) Read More »
If you have a 401(k), you have a powerful tool to build long-term wealth and secure a great retirement. Some of the obvious benefits include the ability to save money in a tax-advantaged way, but there are some less well-known features of the 401(k) that can allow you to really boost the benefits of this …
Andrew Carnegie stated that 90% of millionaires got their wealth by investing in real estate. Rental properties have been, and remain to this day, a proven way to build uncommon wealth because they have a unique combination of powerful wealth-building benefits that no other investment vehicle can match. In this article, I will go into detail …
