Passive Income: Everything you need to know Part 1

What is Passive Income

Passive income is income that you make all of the time while not having to regularly maintain it.  Rental properties are an example of passive income.  The landlord is making money every day with little effort on their part once the rental is rented. 

Why Rentals Make Great Passive Income

Rental properties can actually be the best passive income you can invest into.  Rental properties pay out regularly every month.  This is a reliable income that will not disappear.  People will always need somewhere to live and many people think that they cannot buy a house for one reason or another.  

Once you have gotten a renter into your property there is not a lot you have to do.  If there is maintenance to do, it's an easy phone call to get someone out to fix the problem, and you don't have to do much beyond making sure your properties are in good shape and that you get reliable renters. Once you have enough passive income built up, you can even hire a property management company and then there is very little work for you to do beyond buying more properties! 

Another reason rentals make great investments is once your system is running smoothly you can go to investing part-time, focusing on a full-time job, family, or hobbies. 

  Your range increases.  By using a property management company you can invest in properties in many markets including out of state.  By being in different markets you can find amazing deals on properties and get the best income possible for rentals.