Tuesday, July 27

Passive Income

DFP, Freelancer, Mobile Homes, Passive Income, Personal Finance, Personal Finance Insider, pfi, PFI GOBankingRates, PFI Related Content Module, PFI-XAMP, Real Estate, Real Estate Investing

Buying mobile home parks helped an Idaho man go from $0 in savings to a $1.8 million net worth in 6 years

In 2015, Cory Harelson had $0 in savings, $30,000 in student loans, and no financial knowledge. After reading several books about money, he decided to invest in real estate. He stumbled upon a mobile home park for sale and has since raised his net worth to $1.8 million. Read more stories from Personal Finance Insider. Cory Harelson, a structural engineer in Boise, Idaho, knew what it was like to feel trapped. In 2015, he was working anywhere from 60- to 80-hour weeks, overwhelmed with mortgage payments and bills, and balancing raising a young son. "It was like a race with no end," he says. But in just six years, he went from having $0 in savings, $30,000 in ...
BI-freelancer, contributor 2019, Investing, Landlord, Nordic, Passive Income, property management, Real Estate, Real Estate Advice, Rental Property, side hustles, Strategy

3 costly mistakes I learned the hard way being the landlord of a 12-unit apartment complex

Ryan Lais is a career counselor for high school students with disabilities and real estate entrepreneur. After several years as landlord of an apartment complex, Lais says he learned to communicate more with tenants. Ask your tenants to share any issues up front, and be on top of garbage and parking lot maintenance. See more stories on Insider's business page. LoadingSomething is loading. ...
House Hacking, Passive Income, Personal Finance, Personal Finance Insider, pfi, pfi moneymade, PFI Related Content Module, PFI-XAMP, Real Estate, Real Estate Investing, Real estate investing for beginners, Real estate investor, REIT

Financial planners say their clients earn the most passive income from real estate, but they’re not all landlords

Insider asked financial planners how their clients earn passive income, and real estate won. Not all own investment properties — some invest through a real estate investment trust. Others simply rent out rooms and units in their own homes, called "house hacking." Read more Personal Finance Insider coverage » Financial planners say their clients overwhelmingly turn to one source for passive income: real estate.Insider spoke with several financial planners, asking each where their clients get the most passive income. They told us that one of the most common forms of passive income they see among clients is real estate. However, they noted that not all of thei...
Dividend, dividend investing, House Hacking, Investing, online income, Passive Income, Passive Investing, Personal Finance, Personal Finance Insider, pfi, pfi moneymade, PFI Related Content Module, PFI-XAMP, Real Estate

Financial planners say their clients earn the most passive income from 4 sources

Financial planners said real estate is a top source of passive income for their clients. But, they also see digital products, blogs, podcasts, and YouTube channels generating money. Dividend investing is a traditional way to get passive income that works well for clients, too. Read more Personal Finance Insider coverage » Making passive income isn't always as easy as it sounds — it takes time and money up front, and the benefits don't come overnight. But, financial planners say it's possible — and a worthwhile pursuit.To find out how people are earning passive income, Insider asked several financial planners to share their clients' top passive-income sourc...
DFP, Financial Planners, Freelancer, Investing, Passive Income, Personal Finance, Personal Finance Insider, pfi, PFI GOBankingRates, pfi moneymade, PFI Related Content Module, PFI-XAMP

5 ways to start earning passive income with a $500 investment, according to financial pros

I want to earn more passive income, so I asked financial pros how to start with just $500. They suggested real-estate crowdfunding and peer-to-peer lending sites. High-yield ETFs and mutual funds, as well as starting an online business, were other options. Read more stories on Personal Finance Insider. One of the biggest things I'm working on this year, when it comes to personal finances, is finding more ways to make passive income. Over the years, I've started to do this in a handful of different ways, from switching my cash over to a high-yield savings account to offering digital services through my business that bring in money without me having to do much...