I love income. And I’m not afraid to say it.
How does it get better? MULTIPLE streams of income!
In our real estate investing business, we constantly talk about all the ways there are to make money – the multiple streams of income that we can produce. The best part of this idea is that, if one area isn’t working particularly well for a time, you have all the other streams flowing in!
You can see a number of the income resources we use which include:
- assigning contracts
- wholesaling deals
- rental houses
- selling on the retail market
- owning a property free and clear
We used our multiple streams of income calculator to show the income from each stream over time based on various parameters. This calculator can be used, not only for totals, but to show how many transactions you must complete to create the income necessary to support the lifestyle you need (or want).
Next, we look at the Net Worth Calculator to see what our net worth is and how it can grow.
Can you make and use something like this? Are you happy with your results? If not, how are you going to change it?
Whatever you decide, pay attention to the details and tweak what’s working and what’s not in order to achieve the results you seek. Good luck!