10 Ways to Create Residual Income
When exploring the means of creating wealth without using active income, we come across two types. There is passive income, and there is residual income.
Residual income is an income that can be passive. The calculation determines how much profit or excess income is available after all expenses are paid off.
What is Residual Income?
Now we know residual income. It is time to make some. Here are 10 ways you can create residual income for yourself.
Owning real estate can be a great way to generate monthly income. You can purchase a single-family home, duplex, or even apartment building.
1. Invest in Real Estate
You can also have a place in popular vacation spots like on the beach or the mountains to rent out short-term to use VRBO or other sites to make some good side income.
2. Vacation Rentals or Short-term rentals
It does take patience to allow your money to grow. If you can be patient and continue to invest, you will wake up in 10, 20, or 30 years with a massive portfolio.
3. Invest in the Stock Market
REITs are real estate investment trusts. These are companies that will buy up real estate and use your money to help them do it. You will get dividends from the residual income that the company makes off of its property.
4. Invest in REITs
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