Top complete video about work hours, fast ways to make money, earned income, income from blogs, and Passive Income Ideas Real Estate, Building a 170k Passive Income from Real estate | 17 buildings 100 tenants.
17 buildings, 100 tenants and 170k net income, gross is around 1.02m. And in this video, I’m going to break down how this Landlord, literally became a landlord.
Now before I continue to tell you guys the main 3 lessons I found, I want to give you the details, so these lessons actually make sense.
My client got a second store for a very good price because the tenant made financial mistakes and now was in a deep hole and didn’t know how to get out. He took the opportunity and went ahead and bought the least out for 40k from the tenant and paid the debt that was owed, which was around 20k. Total cost 60k.
Pro: Establish location with 10-year clientele, that brings in more than 8-12k on a monthly bases
Con: A lot of upfront cost, but it’s a great opportunity.
17 building, 100 tenants and over 170k in net revenue every month In new York city. WOW
Heres the story:
1. Know who’s in control
– When I walked into the room, my client is extremely happy to get a second store
– The guy selling the store was in tears because his mistakes cost him the store
– However, when I looked at the landowner he looked indifferent, the only thing he cared about was getting paid. ( position of power )
– Structure: Tenants, landlord, Banks, fed
– And they all have their pros and Cons, and when it comes down to it, I want to be the lender or the landowner, those are real positions of power.
- Compound Results
- Everyone I know that’s a human, has some sort of urgency or impatient, but when it comes down to it, true success takes time
- Told me he started in real estate 30 years ago ( This called learning on someone else dollar)
- Started with residential ( Getting in the game, and starting small)
- Got partners he trusted in this case family ( instead of doing it alone, he asked for help)
- And then he just repeated the entire process
Tip: Sometimes you won’t get positive cash flow deals. However you still get them, and hold them, because eventually they will appreciate and you can always raise the rents. ( you take a loss momentarily, to get a win forever)
( I also know people that did it on their own, the key is to get in the room with potential partner. | courses, seminars and even taking jobs)
- We live in a world where we can even wait for a 5-second ad and imagine waiting 30 years to accomplish massive success ( mOst people cant so they wait 40 years to retire instead)
What he told me
- You have to start with 1, then another and then another
- You might not profit, but as rents go up, you’ll make your money back
He didn’t do it alone
I asked for his info so he can help me
Didn’t read any books ( On the job experience, and books are great but sometimes can be the same as procrastination) However, he did recommend courses
Driving a normal car, and wearing normal clothes
If your patient, learn and execute you can do whatever you want.
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Passive Income Ideas Real Estate, Building a 170k Passive Income from Real estate | 17 buildings 100 tenants.
Seven Steps To Multiplying Your Organization’ Income
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Building a 170k Passive Income from Real estate | 17 buildings 100 tenants, Enjoy more updated videos related to Passive Income Ideas Real Estate.
The Three Types Of Income
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