Here’s exactly how I was able to increase my passive income from $6370 per month to $7930 per month within just one year, and some of the tips I’ve learned along the way. Enjoy! Add me on Instagram/Snapchat: GPStephan
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How I make $7930 per month:
Owning six rental properties – $4900/month
Paying down 3x mortgages – $2500/month in equity
Index Funds – $200/month
Ally Bank Savings Account – $330/month
Note: The rental properties aren’t 100% passive..it still requires some time accounting income and expenses… but seriously, I have everyone on staff to handle things as they come up.
Some of the things I’ve stuck with over the last year:
Staying consistent: I really stuck to what I knew best…which is finding undervalued real estate with upside potential and renting it out. Anytime you’re investing your MONEY for passive income, have the same outlook. Unless the fundamentals of your investment have MASSIVELY changed, just hold and continuing investing by trusting the process that long term, you’ll do just fine.
Hiring a property manager. Even with their fee, it took a massive mental burden off my shoulders in terms of managing a property and a brand new tenant.
Third, I’ve continuing to live frugally and invest when I find a good deal. Even though $4900 per month is coming straight from rents, I still do my best to save as much of that as I can and just re-invest it into more real estate whenever I find a good enough deal. For all of you watching, none of this would’ve ever been possible had I not lived frugally, saved as much as I could, and invested everything I had when the fundamentals made sense.
And fourth, one last thought I’d like to make…even though I’m against trying to time the market, or wait for a recession or anything before buying in…just understand that if prices GO DOWN, THIS IS GOOD. I made my best investments in 2011 and 2012…people were telling me NOT to invest, that the markets were going down even further, that I should just hold cash… Instead, I bought long term, when it made sense, for the right deal, and just held…then saved for more.
When building up your passive income empire, start small…focus on one dollar at a time, and continue growing it to something huge.
If you’ve actually read this far, I hope you appreciate the transparency – I’m doing these videos as an example of what’s possible and to plant the seed why passive income and investing is absolutely important.
Thanks again for watching! Feel free to comment below, let me know your thoughts, questions, anything…
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
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