Of course you should.
I practice this for quite a while and I never looked
back. I think this is the perfect combination. You get
the best of both worlds. Did you know that 90% of all
millionaires made their fortune with real estate and
10% with the internet or the stock market? Well, this
doesn’t leave any room for the paycheck workers, doesn’t
I once read a small
phrase that totally changed my life “Trading hours for
money doesn’t bring you any wealth”. This powerful phrase
stuck with me ever since. Take a moment and think about
this. We all do it by being employed by an employer
we trade hours for money. How many hours per week can
you trade without completely giving up your life? 60,
70 hours max. This doesn’t leave much room for a family
life or having some fun, doesn’t it?
Well, enough of this
depressing stuff. Let’s talk about something fun. Did
you know you can actually make money while you’re sleeping?
It is called residual income.
With your internet
business you want to achieve residual income through
selling membership subscriptions to any form of service
that charges monthly dues. Typically you will receive
your share of this as monthly installments. You do the
work once and you get paid over and over again.
With real estate you
achieve the same effect with rental properties. Although
your involvement in the process is a little bit bigger,
but it is still manageable. You have to collect the
rent and making sure it is paid on time. On the other
hand you have to pay all the bills like mortgage payments,
insurance, taxes and sometimes utility bills. Depending
on the type of lease agreement you have with the tenants.
This takes care of
the residual income part. As a rule of thumb if your
residual income covers your living expenses you’re on
your way to be successful. Now you can start doing the
fun part with real estate. Not that there’s anything
wrong with being a landlord. I personally don’t like
this part of investing in real estate.
The fun part for me
is to work deals with real estate. It could be buying
an old property way below market, fix it up and sell
it with a profit. Another method in dealing with real
estate is called flipping. In this case I simply control
the property through a contract and then assign the
contract to another buyer. Of course I will collect
a fee for my services. I prefer the second method because
the least amount of money and work is involved. Fixing
up properties can turn into a time and money consuming
The point I want to
make is that you need to establish some sort of residual
income to cover your basic living expenses in order
to expand your business.
Of course you can
do all of the things mentioned and still working full
time. That’s what most people are doing. However you
have to decide if the extra income is worth the effort.
You will need a lot of time to do both investing in
real estate and running an internet business.
Visit my home business
website and my real estate website to learn about effective
systems to leverage both business models without completely
giving up your life.