Guaranteed Residual Income-Something You Can Depend On
By Sherman Choo
The hassles of having a day job these days can often out weigh the benefits of having one. In an economy that is slowly slipping and sliding into the murkiness, having multiple streams of income is imperative in one's effort to keep their heads above water. Don't you feel like you cant ever get ahead? That no matter how much work you do, no matter how many hours you put in at work, you are as behind in your bills and finances as ever before? Well, welcome to the world in the new millennium. It can be hard to get a job these days and for those who lack the most marketable of skills, it can be hard to keep one, let alone take care of yourself and your family. It's important to have a secondary source of income, whether it be a spouse, child support, or for the lucky few in the world even lottery payments!
Guaranteed residual income. It's a beautiful thing, indeed. Residual income is income that comes forth after an initial effort has been put forth to generate it, such as leasing office space in a strip mall that you have purchased. Yes, the initial effort is a bit much--actually making the steps to purchase the property, but if all goes well and the spaces lease as intended, that is guaranteed residual income--money that is coming in every month that you don't have to get up out of bed for every morning!
Now, wait a second. Nobody is telling you to quit your day job to make an investment in real estate. Securing a stream of guaranteed residual income is not always an easy thing, and it does not often come as a snap to most people. Many people simply do not have the money it takes to purchase property, fix it up, pay all the fees and then go through the costs of advertising it as a rental property! It can be unrealistic
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