Rich Dad Poor Dad – This is the book that launched thousands of real estate investing careers and is still one of the most famous real estate investing books of all time. There is lots of debate whether it’s a true story, but nevertheless, the concepts in it blew my mind when I first read it. It really speaks to the importance and value of not trading time for money. Here’s my full review.
Network marketing, or multi-level marketing, seems to be on the rise. Companies such as Young Living Oils, Avon, Pampered Chef, and AdvoCare are all multi-level marketing companies. You can earn passive income through network marketing by building a team underneath you (often referred to as a down line.) Once you have a large team you can earn commissions off of their sales without having to do much.
The VA generally recommends a debt-to-income (DTI) ratio of no greater than 41% with your mortgage payment included. It’s not a line in the sand, for reasons we’ll get into below, but it’s important to keep an eye on it. DTI is a comparison of your monthly debt payments to your monthly income. It includes any monthly credit card payments, car payments, student loans, personal loans and mortgage.
This might be a weird one, but signing up for Uber (if it is available in your country) can be an amazing way to generate income by doing what you already do on a daily basis. If you drive a car and you have one you use every day, then picking up people that are along your way that give you cash for dropping them off somewhere nearby is, well, unheard of.
“Let me remind you again that when you put a book out there, you are a published author in a space where you are an expert. Your book becomes the ultimate business card, not to mention a source of ongoing revenue. Did someone say “ongoing revenue?”. Who does not need to make some extra money on a regular basis? Realize that this book will take some work to complete once, but thereafter it exists forever – working to bring you royalty checks five, ten, twenty years from now. Money will be consistently flowing into your bank account. If you write a good book that provides real value, then you realistically have a revenue stream which will bring income for decades to come.”