In the past few years, I have gone from the broke owner of a failed business to a successful real estate investor with millions of rands in sales.
That’s a pretty drastic change.
When people ask how I did it, I have several pieces of advice to give them, but the most important of which is this: get multiple streams of income.
In a five-year study of millionaires conducted by Tom Corley, he found that 65% of self-made millionaires had at least 3 income streams, while 45% had four and 29% had five or more streams.
Why are multiple streams of income helpful? Because they ensure that you always have steady income coming in even if you were to have a business problem with one income stream.
Real estate investment is a very diverse industry in that there are many different opportunities for income. Today, I’m going to share with you the top 3 income streams for real estate investors:
Rental income: This income stream is extremely popular. Many real estate investors will purchase either a commercial or residential property and then rent it out. Rental income is a fantastic income stream because it’s passive, meaning there is no regular work you need to put in to get it.
Commissions: Many real estate agents will offer a commission if you help them find buyers. The commission will be a percentage of the property sale, so the more expensive the property, the higher the commission. While you do need to put work in for this income stream, it pays off big time.
Resale: “Flipping” properties- while a lot of work- can give you a big payday. Let’s say you buy a good-sized single family home in a good area, but the house itself isn’t in the best condition. If you invest some of your own money into fixing the house up and then you resell it, you can make upwards of hundreds of thousands of rands in profit. This income stream is labor-intensive, but when you do get paid, you have a large pay day with each project.
I hope the info in this week’s article was helpful! Be sure to subscribe to my email list for weekly emails, information on live streams and more!
Next week Thursday, I will be hosting an intimate webinar teaching you how to go from zero deals and zero capital to building wealth through real estate. I’ll be revealing my proven formula that has made investors 8-figures- all without putting any money down! Click here to register!
Did you miss our previous live streams? I’ve had the pleasure of hosting weekly live stream trainings with a plethora of talented and knowledgeable guests. If you missed any of the live streams, you can find them recorded on my YouTube channel here.
Interested in learning about how to invest in real estate with no money down? Grab your copy of my ebook How to Invest in Real Estate with No Money HERE! I am giving it away for FREE! In it, I reveal my proven strategy to building wealth through real estate investment without spending my own money. This strategy includes several of the income streams I created without paying any money down.
If you’re ready to take the next step in your real estate investment journey, I would love to help. I have created a no-nonsense course that can help you go from beginner to profitable real estate investor in the next 90 days. Click HERE to find out more!
So- are you ready to start building wealth through real estate? If the answer is “yes,” then it’s time you followed these steps:
1. Register for my upcoming live stream
2. Download my ebook
3. Join our Program
4. Watch our previous Live Stream on the YouTube Channel.
5. Join our Facebook Community to plug into a mastermind of like-minded individuals.