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Real Estate Investing Made Simple :Passive Income—I talk about 3 types of income today.
The 1%ers understand these. You want money that is indestructible, money that you earn while you sleep, and money that will outlive your body. To get there, you have 3 types of income possibilities:
1)Earned—the money you make at your job
2)Portfolio—stocks, bonds, mutual funds-paper that you exchanged with money earned from your job
Real Estate would be passive, but make no mistake, it’s not completely passive unless you’re investing with me.
Passive income is defined as “Earnings an individual derives from a rental property, limited partnership or other enterprise in which he or she is not materially involved.”
Passive means you are not involved, but most real estate investors have to be involved so it’s not as passive as it sounds.
One thing you need to do is never hate on any income.
Nobody goes anywhere without earned income first. If you can’t figure out how to increase #1, you’ll never have #3.
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Grant Cardone is a New York Times bestselling author, the #1 sales trainer in the world, and an internationally renowned speaker on leadership, real estate investing, entrepreneurship, social media, and finance.
His 5 privately held companies have annual revenues exceeding $100 million. Forbes named Mr. Cardone #1 of the “25 Marketing Influencers to Watch in 2017”.
Grant’s straight-shooting viewpoints on the economy, the middle class, and business have made him a valuable resource for media seeking commentary and insights on real topics that matter.
He regularly appears on Fox News, Fox Business, CNBC, and MSNBC, and writes for Forbes, Success Magazine, Business Insider, Entrepreneur.com, and the Huffington Post.
He urges his followers and clients to make success their duty, responsibility, and obligation. He currently resides in South Florida with his wife and two daughters.
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