In my role as a Real Estate Investor, I am constantly searching great investing opportunities with higher profits. This is a constant task a real estate investor has to do on a daily bases. And one of the reasons I created this blog, so I can constantly journal/blog information and tips about real estate investing to share with the online community.
One area or topic, I really haven’t touched much of, is the exposure to multiple streams of income. As a real estate investor, you quickly get expose to multiple stream of income as soon as you purchase your first Fix and Hold. Once your finish with the project, you hand it over to the real estate agent[ if using a real estate brokerage] to rent and you move on to the next project. As soon as the property rents, a 2nd stream of income is created through rents from your rental… I know this sounds easier said that done, but does it have to be?
Multiple streams of income come in many shapes and sizes… And you dont have to be a real estate investor to get started. Especially in today’s high tech society, where so many automated investment opportunities keep growing… And that’s what I will share with you today in this post. A few resources and tips on how you can begin adding and increasing your income streams.
The goal of creating multiple income streams should be to maximize your potential in each category available to you. If you are just starting out, it really isn’t reasonable to expect you to generate tons of rental income. However, there are a few resources below, which will allow you to make extra stream of income immediately.
Acorn.com – This is a resource I mentioned in the previous post. One of the reasons I really like Acorn is because I do not have to worry about savings. And even better not having to worry that the money is sitting still. I believe for money to grow, it has to constantly be moving… With an Acorn account. Your daily change is transferred to an Acorn account, where your money is being traded for you by professional traders. It gets better, if you refer a friend, you will earn a referral fee and your friend will as well. This is FREE money! and the funds you keep in the Acorns account are being traded for you for free. Get Started Visit Acorn.com
Robinhood.com – If you want a more hand approach to investing your money. Then robinhood.com is the place. Why? FREE trading! I know this is not a stream of income, but it is a cost saving. And every dollar you save and
Affiliate Marketing – If you haven’t noticed already, both recommended resources/sites above are affiliate links. This means if you do sign up [ why won’t you, is free and free money] I would get a small affiliate commission [extre stream of income] by you signing up. You don’t have to worry about security or hacking since is just a link sending you directly to the company itself. This is a great way to build a second stream of income. Since you can sign up to your favorite products and services and then truly recommend or refer your friends and family to this services and you get a piece of the action by getting commissions from the sales you generate. A great affiliate marketing company I have used for many years and I am very happy with their service is CJ.com Get Started Visit CJ.com
Online or Downloadable Product – Are you a MASTER in your industry? Just playing you don’t have to be a master, but you do have to at least know what you are talking about based on experienced or education. But if the material/content you are creating is valuable. You could easily make it into a secondary stream of income. Many GREAT resources about you can find online, but one I constantly look for advice from would be Pat Flynn. I really enjoy his material and the educational products he offers. Get Started Visit Pat Flynn.
Paid for Service – This could be considered borderline freelancing. As you get paid for your service, time, knowledge or product being created or developed. Some task is just as simple as reading an article or watch an ad. If you want to double the gains, some of this service payout in cryptocurrencies. Which depending on the economy, they might be higher or lower as you hold them… A few I have tested it and so far work pretty good are, Earn.com and BTCClicks.com
The point is that you can diversify your income in various ways. You can basically choose one of each from the categories above, and get started today.
The other point is that it is pretty easy to get started. You don’t need to be super rich, and you don’t need a lot of time to get started. To say it requires no time would be a lie, but you don’t need to make anything listed above your life. You can work at your job, invest your excess income, save to buy a rental property or rent out a room in your current house, and you start a side job online without breaking a sweat.
The reward from these activities will be financial freedom!