Any advice on figuring out passive income that’s right for you?

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  • #81253 Reply

      Hello! Looking for some advice. How did you get into creating a passive income? I’ve known I wanted to create a passive income for the past two years. But I just don’t know what to do persay.

      My overall goal is to possibly get into airbnbs, but in a few more years.

      Any advice on figuring out passive income that’s right for you?


      #81255 Reply

        I like long term rentals. If they are not cash flowing, find/make a better deal, or put more down. AirBnB is great too but make sure they still work as a long term incase it doesn’t work out, demand changed, or laws change.

        #81256 Reply

          Airbnb is NOT passive. It takes a lot of work.

          Long term rentals are a better stream of passive income if you’re looking for more “hands off” for the most part.

          #81257 Reply

            I prefer REITs and other dividend-paying stocks over individually owned properties. Though talking individual properties, I have been more successful with long-term rentals than Airbnbs.

            The Airbnb/rental upkeep is real, its important to have a maintenance fund, and to be aware a big expense can *quickly* eat up profits. Also, many markets are Airbnb saturated.

            #81258 Reply

              Airbnb has mostly jumped the shark in many regions of the country. A whole lotta people saw this as a great opportunity all at once over the last 2-3 years, leading to supply quickly outpacing demand.

              This in turn has lead to many more airbnbs with far fewer reservations each, and lowering nightly rates dramatically just to get occupancy.

              If you do pursue the Airbnb avenue, it’s best to do it in blue-leaning regions that have restrictions in place but are not overly restrictive.

              In my city (Portland, Maine) we have a cap on the total number of non-owner occupied units, so I never need to worry about 25 airbnbs opening up in my city and cutting into my profits. The same cannot be said in less restrictive red-leaning areas, where just about anyone can open one anywhere.

              Either way, just make sure the investment property you buy can still turn a profit from LTR rent so you don’t end up being stuck with a property that you can’t meet ends on.

              #81259 Reply

                Real estate is not passive unless you invest through a syndicator. I have been able to create passive income through RE syndication and also launching a unique product on Amazon and using FBA for distribution. Amazon has been truly passive for me since I just ship Amazon a box of products once a month and they handle the rest.

                #81260 Reply
                E Lynn

                  After looking at income property in the greater Austin and San Antonio area, we decided to invest our money in the stock market (low cost index funds). The return was higher than the 1% we would make (if we were lucky) with an income property.

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