@Zach Filstrup, You mentioned Fundrise and Diversy Fund. What has been your experience with them? I’ve been to both websites, but got bogged down in all the small print.
Hi Brigat so my experience overall has been pretty good with both platforms. I will say there are a few caveats to both. The expense ratios are pretty comparable in terms of costs/fees on both platforms.
I will say that to get started in Fundrise is cheaper then Diversyfund. The minimum to get started is $500 which is equal. However, the monthly minimum if you want auto-investing is much pricer with a minimum of $500/mo. at DiversyFund and around $100/mo. you can do auto-investing with Fundrise.
The interface I prefer FundRise and its mobile app. I find the Diversyfund app or it’s website a bit messy and distracting to find information.
If you are looking for quicker returns and cash these vehicles might not be the right fit like most real estate you have to hold it for 5 years or more to see a profitable return when you factor in taxes, capital gains, and lack of liquidity.
If you want a simple portfolio that is focused on one type of investment property, DiversyFund will be better for you. If you want to invest in a variety of real estate properties and have access to more advanced strategies, then Fundrise will be the better investment platform for you.
These vehicles can create passive income but moreso if your able to hold them longer is the key takeaway being a crowdfunded types of offerings. This basically allows investors to get into the real estate game with less capital and avoiding all the headaches of being a landlord.
I would be happy to answer any future questions you might have and provide help! ?
I have a blog which isn’t technically passive since you have to put a lot of work into it up front BUT it can become a very good passive income stream eventually. A lot of people sell printables and create their own products and set up funnels.
We are now retired, but when we were in our 30’s we used my income to purchase rental property and stocks we could purchase with out a broker. It is important to have a good relationship with your banker. We got our best real estate on divorce or the owner died and both groups need a quick reasonable offer. Our property is all paid for. I all ways reinvested my dividends. We now have dividends sent to us. Monday, We deposited a check for $599.00 from a bank stock we bought and reinvested the dividends early to buy more shares. We keep our rents low to keep good tenants but we get appr. $2500.00 each month. Our SS checks currently pay us only $930. but it does pay our medicare payments. We certainly worked when we were not retired, but we always invested with a goal of retiring when we were eligible for medicare. I encourage every one to read “The Millionaire Next Door.” Living on passive income is possible but I know that slow but steady we won that race. And anyone can do that. Good Luck! Shelia Wright
I’d say things like REITs, as others have mentioned above. I personally prefer syndications as opposed to REITs because of REITs lower Sharpe Ratio in general, and in syndications where you get to see the underwriting in every single deal, you can get a lot deeper in how the operator thinks about the opportunity.
A lot of folks talk about rental real estate as ‘passive’ – I’ve had some in the B+/A- class, but it was far from ‘passive’. I mean, most months would go along fine, but when there’s like a garage door breaking, or some plumbing issue, or a gas leak, or vacancy, it’s always an extremely stressful scenario.
So while I’m not actively managing the property myself, I’d say it isn’t mentally passive at all. Nor is it passive when you have to make decisions about certain things. Even if you have a property manager, they’ll defer to you as to whether you want to use this paint or that paint during a turnover, or what line items you’d like to be ripped off on. I made more in my passive syndications than I did picking out deals myself, and it was a lot less stressful.
I am so fortunate that I have service people that are in private business, but I pay my bills promptly and promptly so they service my rentals as soon as I call. My tenants are in awe at how quickly their problems are taken care of. I pay service people promptly, my tenants are happy and pay their rents on time.
Passive income is not easy. It requires a lot of upfront work to get it done. Think, investing, starting a blog, real estate rentals, real estate apps, etc.
If you just want quick cash and are a fan of playing games on your phone, then check out making money playing games. It’s a great way to earn money by playing fun games you would play anyways. Worth checking out since it requires little to no investment.
Good luck and there are a lot of other great ideas on this thread!
Please read The Millionaire Next Door." It chronicles the lives of plain people who work and become 1st generation millionaires in their family. You learn that most of the people they know would never believe they were wealthy.
Passive income can be a great way to help you generate extra cash flow, whether you’re running a side hustle or just trying to get a little extra dough each month, especially as inflation rages throughout the economy. Passive income can help you earn more during the good times and tide you over if you suddenly become unemployed, if you voluntarily take time away from work or if inflation keeps chipping away at your purchasing power.
Passive income ideas:
Create a course
Write an e-book
Rental income
Affiliate marketing
Flip retail products
Sell photography online
Buy crowdfunded real estate
Passive income can be a great way to help you generate extra cash flow, whether you’re running a side hustle or just trying to get a little extra dough each month, especially as inflation rages throughout the economy. Passive income can help you earn more during the good times and tide you over if you suddenly become unemployed, if you voluntarily take time away from work or if inflation keeps chipping away at your purchasing power.
Passive income ideas:
Create a course
Write an e-book
Rental income
Affiliate marketing
Thank u for all of them ideas, which is why I feel sincerely for… I’m a little confused about a few things on here and that coupled with my total neurological ?when I u think about it
I was wondering if it would be ok a meet to possibly contact those I had a question for…I barely figured out how to post, let alone ask individual people separate things in the same thread (I’m really not this dumb, but things aren’t great right now and I’m having trouble thinking or remaining how I can’t be ok.
I wanted to ask if in general it would be ok for me to ask u a question, but I don’t remember that names until I see them. I guess basically if u aren’t, say something, otherwise I will attempt to ask the few individuals and if u didn’t feel like saying no, I understand and would appreciate anything
Whether you’re attempting to start a side business or are just looking to make a little extra money each month, passive income can be a wonderful approach to help you generate extra cash flow. This is especially true now that the economy is experiencing widespread inflation.
