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Updated about 5 years ago,
Just beginning, no clue where to start.
I'm going to start this off by saying I have no idea where to start. Started getting into investing with stocks last summer and after reading several books, everything I keep seeing is to find a passive source of income and they usually mention real estate. I'm currently in book 2 of the Rich dad series and they have been great so far. I would love to get into rentals to begin generating some passive income for my family so that we don't rely as heavily on my day job paycheck.
A little about me to hopefully help point me in the right direction. My wife and I bought a house in 2017, bought 2 newer cars (2014 & 2016), total debt with student loans and credit cards is around $315,000. As of now I'm pretty much living paycheck to paycheck and that's where I would like to look into some forms of passive income. Our savings/assets are roughly $5000. We don't really have the expendable income to make a large purchase right now, which makes it hard for me but I have seen so many times purchasing a rental property for $0 money down.