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Imagine if you just had two individual sources both earning you $250 paychecks ($500 total) each month without you doing extra work. And those sources just paid for your car expense.

Have I beaten this concept to departure at this point Good. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is exactly what Real Estate Investors call Cashflow.

Again, I realized that I DID NOT want to become rich when I was 65 if it cost me my lifestyle during my younger years... I would rather have a healthy amount of cash coming in each month from several resources and retire early. Or at least do WHATEVER I wanted after the military without having to consider the paycheck coming out of my new hobby, job, or even occupation as a portion of this equation.

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Both terms"residual income" and"passive income" attempt to capture the same concept of,"making money automatically." For the sake of brevity, I will only be using both terms interchangeably.

After hearing the words"passive income,", many of us immediately begin having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You immediately snap back into it, take a sip of your Monster Energy drink, and try to remain awake while on your own 24-hour responsibility at the barracks. .

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Is a blissful and lively lifestyle really possible Is it Feasible to plan my army career to get closer to such a lifestyle

An asset is something that puts money in your pocket each month. It's a lifestyle and wealth multiplier.

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A liability is something which takes money from you each month. It might be a temporary lifestyle enhancer, but a long-term way of life and wealth killer.

Teach yourself to the point which you can find and purchase American Real Estate that you rents at a higher cost that all its expenses and there's still a significant amount left over. The residual cash is that flow of income or cash flow.   Finally, when we start looking at these income flows collectively, it will become known as"residual income" .

Admittedly, setting up your own Real Estate Investing Business is NOT simple... however, with the correct education, Real Estate Investing does NOT have to be hard.  But you have to learn and behave.

Now, if you all of the above makes sense, a funny thing will begin happening.  When you start talking to folks about finances you will soon begin to realize that there are two different kinds of people in this world: those that understand the difference between an asset and a liability, and those that will NEVER be wealthy. .

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Each of these entities are money making systems. They produce income while costing quite minimal personal effort or time. Even though one of those ended up costing me a million dollars each month but made two million dollars each month, it is an asset.

Honestly, who cares how much you are spending on an advantage every month when it earns you more than what you spend Now let's take it one step further... what should the spending was automatic and so was the earning

When there was a machine that spit out two dollar bills after you gave it a single dollar bill, you'd be glued to this machine all day! Moreover, you wouldn't care if this machine billed you 50 percent interest on your buck prior to generating you the two bucks it spit out. .

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Since passive income inherently means that I do not have to spend the most expensive thing in life, time, in order to earn a certain amount of residual income.

Because some people who hear the term get disappointed when they realize there's a great deal of education and some significant setup needed on the front end of the journey to financial freedom (our"Why"). Again, this isn't a get rich quick scheme, but it is a hell of a lot better than what I was taught by a number of my military and veteran mentors. .

As members of the military, we often believe it would be exceedingly hard, or maybe even impossible, for us to find time to earn extra income. So far as our professional priorities, our army support should be at the very top. So how home can we ensure that we are setting our new real estate investing business up for massive success How Bonuses do we make sure that it doesn't create more anxiety than enjoyment.

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They key is to leverage our VA benefits, minimize our personal housing expenses, and concentrate all our savings towards producing assets... a.k.a. rental properties.

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