HELP! I Hate My Job. How Do I Create Passive Income ASAP?

[Fredrick Hock]

Hello!

How would you recommend creating a passive income stream of at least $5K per month, in the shortest amount of time? What would your strategy be (and how much capital would be needed)? For example, would you recommend Buy-and-hold rentals, Crowdfunding (e.g. YieldStreet), Bonds, CD's, P2P Lending, etc?

I am a freelancer approaching my mid-30's, and am getting weary of trading my time for money (along with the uncertainty of freelancing). My current plan is to purchase rental properties, and wanted to see what other options are available to diversify my passive income stream & live a comfortable life as I get older.

What do you recommend?  Please HELP! 

[Fredrick Hock]

@Bryan Blankenship, so true! I definitely like rentals for the relative stability & consistency of monthly cash flow.

I am already sold on real estate being a great investment, and was curious as to what other investments the BP community would recommend (to diversify my portfolio). I have been researching other investment options (outside of real estate) to see what else is available.

FOR EXAMPLE: I saw an ad for 'My Constant' (www.myconstant.com) P2P lending service that claimed at least a 10% ROI with secured returns for investors. According to their website - "if borrowers default, collateral is sold to refund the investor. If collateral falls in value, it is sold at a threshold. It's all automated by an unstoppable smart contract - investors will always get their principal and profit."

I will do more research into other investment options (outside of real estate) and diversify accordingly.

P.S. Another option I am considering is Real Estate Crowdfunding. I read an article by Financial Samurai, who gave positive reviews for Fundrise & RealtyMogul... however I also read discussions on the BP forum where people advised against crowdfunding.