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So long as the amount collected in rents surpasses the amount paid for mortgages, taxes, insurance, maintenance, repairs, and property management services, you will reap a well-sown harvest of rental income each month.
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The most obvious is the revenue stream created by rental income. When you have several rental income properties, you make your money two ways. All you would need to do is purchase the investment property, let the professionals manage it and collect your monthly cash flow checks while your tenants help you build equity. If you leverage turnkey investment properties, then most everything is already done. You either research properties or have people you trust do it, find ones that are in good condition and preferably in good areas, pay a reputable contractor to perform any repairs and ensure the property is in its best possible condition, and then hire a trusted property management company to handle the administrative tasks, including collecting rent, documenting and paying for maintenance and repairs, and sending money to you. In theory, the process is relatively simple. In the real estate market, the one of best ways to generate passive income is by investing in turnkey rental properties that are ready to rent with and are managed by property management companies.
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Often times, it comes from investments, such as in rental properties, stocks, bonds, annuities, and other investments. Passive income is money you earn without doing actual labor. If you have passive income during your retirement years, you potentially could live as well as you did during your peak earning years. Passive income is a great tool for building retirement income faster, paying off debts, and, ultimately, retiring early and comfortably.