Anyone that knows anything about business, wants to make passive income. Many folks would like to have a primary, or secondary source of passive income in real estate.  I am one of those people. Currently, my passive income in real estate is around $500-$550 per month (including signing a lease agreement just this past Tuesday). Not much, huh? Well what could you do with an extra $500 per month? Today, I would like to present a high level overview of my plans for passive income in real estate. But first, let me define “passive” as I see it, for you.

There are lots of definitions out there, but to me, passive income is “hands off” or “almost hands off” income streams.  The real estate investing that I do, coupled with property management, has great potential for current and future benefits. However, investing in real estate takes a lot of initial work, with some additional work down the road. Likewise property management requires a lot of startup effort, with a lot less in the future. I don’t believe there are too many highly lucrative, true blue, do nothing type income streams, unless you are planning to hire someone else to manage your businesses (BE CAREFUL!).

Bottom line, the income streams I am building should prove to be low maintenance in the future. So now, I want to give you a guide that I am using to create passive income in real estate:

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