Hi everyone! I’m back again today with my mentor Dr. Marijo Wilson! In this video we explain a little bit about passive real estate investing, how it works, and some ways that you can start breaking into this strategy and generating some of that passive monthly income
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Hi, I’m Chimene Van Gundy, bestselling author and mobile home millionaire and in today’s video, we’re going to talk about what is passive real estate investing. Joining me today is my mentor, Dr Marijo Wilson, who actually has been a coach and mentor internationally as well for the past 15 years. So Marijo, what is passive real estate investing? Well, that’s a great question of what passive income is, is where you’ve got income coming in and you’re not having to go out and work for it. And everybody should be thinking about passive income because when you go to that job, you’re at absolutely not passive are you right? Don’t have passive income with the job. So when you’re able to put your money to work for you, your money now makes money for you. So money makes money instead of you having to make money. That’s passive income. Now we have a little note here that you don’t have to do anything for it, but you have to be smart enough to evaluate the deal and make sure that you have enough money coming in that it’s worth your time and you understand your return. On investment. And those all are all things that you need to be aware of, understand the concepts and know how to do the math so you can get the best return on your money as you invest those dollars to have passive money coming into you each and every month. Right. And can you tell us what the difference is between active investing and passive investing? Sure. So an active investor might buy a rehab and instead of them hiring somebody to go out and, and do the rehab for them, they think that in order to save money, they’re going to go do the rehab themselves. So they’re doing $10 an hour work when they should be finding more deals and making three or $400 an hour. And so everybody starts stepping over dollars to pick up pennies and they don’t have the mindset that they need to start utilizing other people’s time as well as other people’s money and other people’s effort and other people’s knowledge instead of feeling and figuring out that they’ve got to do it all by themselves. So instead of them being active and thinking that they’ve got to do it all themselves, they need to get a team around them where they can really get a lot more stuff accomplished. Right? And one of the things too about passive investing as well is that we’re actually not going to be exchanging our hours for dollars. Meaning basically like when you go to a job, you’re actually exchanging your hours for dollars. When you’re constantly investing, you’re not doing that. There are several forms of passive investing, right? You can do it with notes, mobile homes, single family homes. But the biggest thing I think that you can do as a passive investor to really get great cashflow is that owner finance strategy. Just like I’ve talked about in all my other videos, who wants to be a landlord and deal with the forties of real estate or no, the no toilets yet. That’s trash, no ties and no tenants. And so when you honor finance, you actually are the bank, right? And that’s the best place to. So I hope that this video has helped you and what is passive real estate investing. And now you have a better understanding of that. So go do it.
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