PASSIVE INCOME - Posted by wkh

Posted by Rich[FL] on January 21, 2003 at 12:01:40:

It sounds like you have a good start working in a mortgage broker’s office. Since this is the Cash Flow forum, let me ask you this…do you ever see deals done were the seller needed to carry a second mortgage? If so, how about buying these seconds for your portolio?

You can create your own mortgages by purchasing relatively inexpensive mobile homes, fixing up as needed, then selling and holding the financing. Check out the Mobile Home forum for more information.

You can buy run-down mobile home parks and/or apartment buildings, fix them up, increase occupancy and rents, then sell at a premium, again holding financing. See the Commercial forum for more ideas and information.

You could always go to the Main forum and learn about buying and selling homes; if you want long-term passive income, you can sell on a land contract or wrap. Of course, you can be a little more “active” and just keep them for rentals which also produce passive income.

It all depends on what you’re interested in. There is probably enough information here at the web site to get you started in any area that strikes your fancy if you take the time and search through the archives, the how-to articles and the money-making ideas sections.

Good luck!


PASSIVE INCOME - Posted by wkh

Posted by wkh on January 20, 2003 at 20:47:19:

ok, starting from complete scratch…my goal is passive income…(here’s a little background to paint a better picture) i’m a young guy with barely any debt and good credit, i’ve been working as a mortgage broker for a little over a year now with a good company and am doing good…my long term goal is passive income, whether it’s holding multiunit properties, bed and breakfasts, small businesses–whatever the vehicle–i want to command a flow of steady income; i refuse to live by the rules of a corporation (unless i own it :wink: )as a good employee (i’ll do it for now as i learn, but not forever). I will not relent until this dream is a reality and am committed 110%. Especially as EVERYONE around me thinks it IMPOSSIBLE and continues to live in their fear mentality. I’ve had setbacks like everyone else but i will not give in. My question is for the wise and experieced who’ve done what i seek to do…looking back now if passive income were your goal what vehicles do you recommend that will produce solid results. i’m not looking for any magic tricks, just time proven methods (there are so many ‘gurus’ etc. out there, i would like an old timer’s opinion who’s been through it all) if you could do it again what what/how would you have done it (build passive income)? And to everyone on this site reading this post right now, may the higher power bless you!

Re: PASSIVE INCOME - Posted by Don

Posted by Don on February 13, 2003 at 09:36:19:

My wife and I have been in the Bed & Breakfast business for over six years. Our operation is not producing a “passive income”. It is hard work everyday. Therefore I would not classify it as
" passive" in any way. Good luck. Don