Developing multiple income streams means balancing different tasks all of the time. If you're not prepared (mentally, organizationally, etc.), it can quickly get overwhelming. In fact, I felt myself overwhelmed several times over the past year (just read my income stream report from November 2011). However, I've found several ways to cope and push through the hard times, and I want to share them with you! Here are five ways that you can simplify your multiple income streams to make them work for you, and not have it be the other way around! 1. Stay Organized The first step is staying organized. This can be a real challenge as you build multiple site, try to invest, or even own real estate. I've found this to be a big issue as … [Read more...]
My Home Appraisal Was Wrong – Now I Have To Appeal!
I've you been following along in my journey, I decided to convert my home into a rental property, and purchase another home we love more. If you've been through the lending process before, you know it is extremely tedious. You have to fill out long applications, get a bunch of paper work in order, and so on. You can read my Ultimate Guide to Shopping For a Loan for more information, but in general, it is a lot of "hurry up, then wait". Well, last week, after a period of waiting, we got the appraisal back on the house we are looking to buy, and it ended up coming in a full $70,000 below our offer price, and well below fair market value to similar properties inside the same development. SO IRRITATING!!!!! My Appraiser Botched The … [Read more...]
How To Invest To Generate a Passive Income
Generating a passive income is hard to do, but there are many ways to do it. I will cover the most common and basic ones here. It is important to note that most income is not truly passive in the sense that no work was required. However, in my examples below, you will see how the income is now passive since the work was done prior to the income being made. Passive Investment Income The first major way individuals generate passive income is through investments. This can be done because many investments distribute gains in the form of dividends or distributions. These dividends and distributions are income, and many people are able to live off of them. A common strategy is to put together a portfolio of high dividend paying stocks. In … [Read more...]
