Passive income opportunities are important if you want to stop trading your time for money and gain some flexibility in your life.
With this said, have you ever wondered how you can invest in real estate when you simply don’t have the time? I’m here to share a unique investing strategy that the average person is likely unaware of.
With this said, I had the privilege of being on the Pineapple Podcast with Mitch Parmasar recently! Throughout our discussion, I shared how I was able to develop a number of passive income streams through real estate investing, namely due to private lending.
To learn more about this unique investment strategy & how it saved me when my event services business was deemed non-essential (rendering it almost completely inoperable) during the covid lockdown, listen in!
During our chat, we talk about:
– what I was doing prior to the pandemic & how I was introduced to this concept
– accessing the equity in your home to generate income
– diversifying risk when you’re the ‘passive partner’ in a deal
– smart ways to leverage & manage income earning debt
– how private lending gave me the ultimate gift of time – to be home with my daughter when she was an infant, to obtain my real estate license & to edit/publish my book, The Accidental Entrepreneur
Although long term equity in assets is the focus for the majority of investors, for me, cash flow was more important for me during this particular period of time. Over the past 4.5 years, I’m proud to say I’ve been a part of 50 private lending deals. My goal is to move towards the purchase of a multi-family property next year.
I don’t say any of this to impress you, rather to impress upon you, the kinds of things that are possible.
Hats off to all of the brokers I’ve worked with who have helped structure some of these deals along with the borrowers, who are in some cases, active partners in the process of renovating their rental properties. In other situations, they may need to satisfy a short term need, such as paying off a line or credit so their new mortgage can close or business owners who require capital.
Whatever the reason, it’s nice to know I’m part of a mutually beneficial, reciprocal arrangement which gives them the upfront cash flow they need to fulfill their needs along with steady cash flow for me, to support my lifestyle.
For the full episode, click here. For other great videos, make sure you subscribe to my YouTube Channel.
