Next Level Thinking/Truly Passive Income

[Derek Robinson]

I got into real estate investing to escape the 9 to 5 paycheck route. Now that I have enough "passive" income through single family, mulitfamily, short term rentals, a few notes, etc....I'm looking at the next step to become truly passive. I say I have passive income in quotes because I still have oversight of employees, making bigger decisions on remodels, tenant turnover, etc. plus oversight of accounting.

In my mind, truly passive means I have to do absolutely nothing and see the income rolling in. Do I save up enough money to buy an annuity to get that guaranteed income? Someone suggested liquidating property to get more into the note business, but you still have to find the notes, oversee payments, oversee foreclosure, etc. Someone has suggested becoming a private money lender, but again, you have to find potential investors, oversee payments, etc.

Don't hear me complaining! I am truly happy with the incredible amount of flexibility I currently have to be with the family and live a life we are comfortable with.

I've thought about training someone I can trust to know everything I know so they can give oversight, but most people I know like me also have the goals of being truly passive.

Any thoughts on this topic? Thanks in advance!