![simple passive cashflow simple passive cashflow](https://simplepassivecashflow.com/wp-content/uploads/2017/05/image1.png)
My 2004 Saturn is starting to show age! Typically though, I’ve mostly spent my extra cash on things like vacations where the memories will last far longer than some new gadget.ħ) Something that you changed your mind on? If I had to splurge on something, it probably would be a new car. Right now I’ve been focused on using my cash to buy great real estate investments. I also would probably keep working on real estate!Ħ) Something that you have recently done or thought about “burning your cash” on for time savings or an improvement in quality of life: We’d go on quarterly vacations and also monthly mini-vacations hiking and camping near our home. My ideal day would involve some sort of time outside, exercise, a good cup of coffee, involvement with friends and community, self-development like reading books, and plenty of time with my husband and son.
![simple passive cashflow simple passive cashflow](https://simplepassivecashflow.com/wp-content/uploads/2017/05/2016-06-08-13.35.10.png)
Twice that amount would open up new opportunities. My current simple passive cashflow number is $6-7k/month. Describe your ideal day, detailed routine, and what projects you are working on: Maybe in 6 months we’ll even have another property under contract by then!ĥ) What is your simple passive Cashflow number? Now imagine you had 2x that amount. We’re going to do a major remodelling project on the unit interiors and improve the property overall by adding covered parking, backyards, and a spruced-up office. My 6-month project is get the repositioning of the apartment community well under way and get into a good business rhythm. My current 2-week experiment is to get my son to eat his vegetables! Just kidding, in reality my next big 2 week goal is closing on our 100 unit apartment syndication. I also learned that strong contracts can make all the difference in a sticky situation.Ĥ) Current 2-week experiment and 6-month project? (90-180 day goal):Ī mark of a high performer is to put your ego aside and accept the help of others and mastermind maybe folks can help you by you asking. The main lessons I learned were not to use the same contractor as your house-flipping realtor since it creates a major conflict of interest, and also that you can make more income in a less stressful way by owning cash-flowing rental properties. I’ll have to go back my previous example with the house flip. After that experience, we saw buy and hold real estate as the tried and true method of building wealth relatively passively, so we set the goal to buy 2 properties (2-4 units) per year and for the most part have stuck to that plan, and it’s worked out well.ģ) Worst life/business moment what did you do after? Lesson learned?: Today, 5 years later, that house is worth nearly double what we sold if for after fixing it up. If we had kept it as a rental for just an extra year, we would have made $40k more from appreciation. That was a major learning experience, and the biggest thing we learned was that we didn’t want to be house flippers! After putting tons of sweat equity in the deal (even though we had a general contractor), we made less than $10k of profit on the deal.
![simple passive cashflow simple passive cashflow](https://simplepassivecashflow.com/wp-content/uploads/2018/12/180703.jpg)
Our first “investment” as a married couple was a house we decided to fix up and sell. Things happened fairly naturally, but it was a bit of a journey getting to where we are now. We both knew we wanted to build income from real estate, but we weren’t sure how we wanted to do it at first. One thing that I’m incredibly grateful for is having a like-minded husband who I can brainstorm with. For me the combination of desire + education = action.ģ)Did you "burn the boats" or did you let it happen naturally? - was there an internal (you decided to make a change on own – what was thought process?) or external trigger (ie got fired from your job)?: I had to take action and starting building passive cash flow to support my lifestyle. I had already been a student of real estate for several years, but finally I knew that if I didn’t want to be tied to an unfulfilling job for the rest of my life. My husband and I are making about $6-7k/month in passive cash flow from our 10 properties (22 units).Ģ) What is your Han Solo moment? Describe the resistance that was the catalyst for change:įor me, the main factor was knowing I didn’t want to stay in my then-current career path for the rest of my life.
![simple passive cashflow simple passive cashflow](https://content.app-us1.com/N156g/2021/08/24/c95f47f4-bd37-47b1-8698-8e2b0c4801b8.png)
She lives in Colorado with her husband Alex, their 2-year old son Landon and enjoy the outdoors and activities like skiing, tennis, and biking.ġ) How much simple passive Cashflow are you making today and how are you doing it?: She works with a great group of investors helping people move their money out of the stock market and into physical assets - real estate. Former aerospace engineer who became passionate about real estate investing, built up a rental portfolio, and has now moved into syndicating larger multifamily deals.