Throughout my years coaching new real estate investors, I’ve noticed that a good many of them are drawn in my the idea of passive income.
Many come in thinking it’s the holy grail.
After all, who wouldn’t want to make money each and every month without needing to work for it?
The truth is, passive income is great.
And setting goals for how much passive income you want to create one day is also a smart thing to do…
But sometimes, when it comes to achieving your goals, it makes sense to take an indirect route.
Let me explain.
If you’re just getting started in real estate investing and you don’t have a lot of money to start, or you don’t have good credit… It can be quite challenging to buy a rental property that generates passive income.
Going directly for your goal, given those resources, is not the fastest path.
But what if you instead focused on quickly generating “chunks” of money rapidly… and “rolled” those quick profits over into passive income deals?
Believe it or not, there is a way to do that.
You see rather than going strictly for a passive income model, you can focus on creating a “hybrid” model real estate investing business.
All this means is that you start with wholesaling… use the wholesaling profits to fund rehabs (fix and flip)… and use the rehab profits to buy passive income rentals!
And the best part about that plan is, by using wholesaling as your starting point…
[+] You can start with very little money
[+] You can spare yourself almost all the risk
[+] You can get paid FAST
[+] You can learn the “ropes” before you move on the bigger deals
In fact wholesaling is so powerful that some business owners don’t even bother to graduate to the other strategies…
They just optimize their wholesaling business until they’re doing several wholesale deals per month.
But like I said, you can (and should in my opinion) roll those resources over into bigger deals.
That’s the way to generate long term wealth.
So if that’s your goal, you may want to consider taking the indirect path to get there as fast as possible.
Hope this helps!
P.S. If you’d like to learn more about “rolling over your resources” I go in depth on this topic on my latest webinar.
I teach you a concept called “Strategic Deal Compounding” that I truly believe to be the best way to get started and eventually reach long term wealth with real estate investing.
There’s no cost to attend the webinar. Just click the link below and sign up for a convenient time.