If you're trying to find ways to make money without needing to punch a time clock or be enslaved by your business, residual earnings are the way to go. With residual earnings you put in some work setting up a business system which can run without your day to day steering and chill out and watch the checks roll in.
Most people in this world depend on an income and boss to earn a crust. In order to stop being a wage slave, you could have to line up your own business. The issue is that many entrepreneurs trade one kind of slavery for another, as they end up spending every waking minute working on their business. That's not freedom!
They produce a piece of work or a service and get paid for it when it is sold. They only get paid once, and if they want more money, they have to go out and sell and deliver their service again.
Folks find a wholesaler of a product, advertise that product and then sell it for a profit. Properly set up with the right outsourced staff, all the business owner has to do is get the business set up and check in periodically.
The internet also enables for you to generate this kind of residual income online. By merely building a web site and monetizing it by means of sales or advertising you will continue to earn earnings as long as you own the site. I was just on a discussion forum yesterday and read a story of a man who put up a website that made $350 it's first month in business! Not bad. If he could make one of those per month, by the end of a year, do you think he'd have enough to quit his job?
The strongest strategy to insure residual revenue for life is thru genuine estate investment. For a nominal investment inside the property and performing any rehab that ought to be done, you are able to lease out home or commercial authentic estate so lengthy as you stay. Barring a natural disaster or nuclear war your building will be standing lengthy after you are gone. Not only will you receive income for the rest of your living, but so will the people who inherit your business. That's a much better deal than the government will give you in most cases. It's a real asset, your real estate and your residual income stream it generates. Something that you've bought that provides value and earns money - using systems that can continue to operate long after you're gone.
If you HATE the idea of working with tenants full time, I don't blame you. The good news is that there is a full host of pro management firms that may well oversee the property and make sure you get your income. Certainly you'll ought to be willing to accept a touch less revenue in this scenario but it frees you from having to deal with your tenants. That makes it a little more of a passive income stream.
It's everyone's dream to stay the fine existence. We need to be in a position to invest time with our friends and family and pursue our hobbies and interests all while becoming financially secure. The energy of property investing and other hands off businesses provides you the energy to have it all through residual earnings.
If you want to build residual income through commercial real estate investing, we can show you how. Our website on how to invest in commercial real estate will help you understand the basics of this powerful investment strategy.