Passive Income Glossary, Creating Passive Income, to modify
passive income rules, Passive Income Lifestyle, Top 7 Mistakes New Practitioners Make, Build Your Passive Income Business the Right Way, The Passive
Income Myth And More.
Passive Income Glossary
- Ability to Pay
- Active Income
- Balloon Payment
- Business Asset
- Capital Asset
- Cash Method
- Estimated Tax Payments
[ more
passive income glossary info ]
Passive Income
What is passive income ? Passive Income is derived from real estate and business investments in which the individual is not actively involved. So now the question becomes, how much passive income do you have?
If you are not a business owner, one of your best chances to create a significant level of passive income is with the ownership of income -producing real estate. This is a very simple concept that many "very smart" people, just don't get. As your Realtor, I'd love to take the time to explain why this is important.
What would happen if you could not go to work tomorrow?
If something were to happen to you tomorrow, how much income would you have to live off of? How insulated are you and how insulated is your family? Would you have enough income coming in from the ownership of business and/or investments to support your current standard of living? For most people, the answer is no. For most people, although they have luxury vehicles, they are confined to the "rat race." Meaning, working is not an option for them, working is a must. They are in a position to have to work to pay their bills.
Our theory is very simple. Create passive income through the ownership of business, real estate, and other assets. We think it is smart to use credit and capital to create a stream of passive income and then more passive income .
This concept is very simple. Buy real estate and make sure the rental income exceeds the debt service. Of course, the process deserves the attention of an expert, but it really is a simple process.
Not every real estate agent can show you how to do this.
Did you know that 95% of all brokers and agents own 1 home and have no real estate investments? That's right! It's important that you hire the right Realtor for the job of helping you create wealth.
For an in-office consultation, on how you can create significant levels of passive income , please complete the form below.
Use the form below. This will help us help you get started with the wealth creation process and if you've already started, move the process further along. We will contact you to answer any questions, or schedule an appointment to provide you with addutional information about how you can move the wealth creation process forward.
click here For more passive income >>
Outdoor Book Internet Epoch Cooking Web Look Faq Investment Service By Mortgage Like Pet
Creating Passive Income
by Kevin Bidwell
"Join our program and retire in 3 months..." yeah, right.
We
all want to get to a place where we have ongoing, hands-off income that continues
without us having to work for it. These ads play into that desire by offering
us the promise of "easy continuing income."
The reality is often far from the sales pitch.
The first step in developing an ongoing, passive income is to dispel some of
the myths surrounding the sales hype.
Here are some of the most common myths about creating a passive, ongoing online
income:
Myth One: Put up a Website and Sit Back and Collect the Checks.
Those of us who have run Internet businesses for a while can tell you: Making
a good living on the Internet requires marketing, customer service and order fulfillment.
Either you have to do it yourself or you need to hire someone to do it. Either
way, having a website and selling your own products is often far from the "laying
around on the beach while collecting your checks" image.
Myth Two: MLM/Networking Income is Residual Income.
Almost always a part of the sales pitch in networking is "creating residual
income." While that is *possible* with MLM, it is very difficult to maintain.
Here's why...
MLM income is built on three basic factors: new purchases by retail customers,
the recruiting of new *wholesale* customers and the ongoing purchases by both
groups. In order to have an ongoing "residual" income, you need to recruit,
train and motivate a sufficient number of *leaders* who will then continue the
process in growing numbers.
This is rarely the case.
Instead, top leaders have found it is easier to build a large list of MLM "junkies"
who they then take into one program after another. If you stopped joining new
programs, your income would also dwindle within a few months.
Myth Three: Just Build Your Business and Hire People to Run It for You.
This does work, but it is often more of a nightmare than a dream.
At various times I have had anywhere from 0 to 15 employees. I have had many
friends and clients with much numbers up to 1,000 employees. We all have the same
opinion: Unless you have enough employees and profits to hire top quality managers,
employees are a constant headache.
If you DO build a big enough, profitable enough, business and if you have the
right personality, then building your business and hiring people to run it is
a great idea.
Myth Four: Developing A Passive Income is Easy.
I don't want you to fall for this one, either. Developing a passive income
will take some perseverance. The steps to getting it done are not difficult, but
it requires one thing many people will not put in -- consistency. If a person
does the right things, day after day, they will create an ongoing, growing income.
If they try today, then one day next week, then one day a month later, they are
unlikely to ever get there.
Developing a passive, on-going, hands-free income is worth the effort. Avoid
trusting in these four fantasies, get ready to work and you can have a supplemental
income in no time at all. Keep it up long enough and you can eventually retire.[
more passive income articles ]
Partner Sites:
Antique Furniture Sales |
Photo Sharing Services |
Free Dating Sites Online |
Embedded System |
Payment Processing Service
The Passive Income Myth
By Paul Lemberg
Article Word Count: 713
Seeking Passive Income
I’ve just launched a new home study program called The Way Out: How to
Turnkey Your Business So You Can Have Anyone Run It With Consistent, Predictable
Results... For Maximum Freedom, Income and Net Worth.
I created the program because many entrepreneurs have worked their way into
a box. They started a businesses to provide freedom, but in reality what they
have is job plus financial risk. They have placed themselves at the center of
their business universe, and although in theory they can take all the time off
they want – they can’t ever. On top of that, if they want to increase
their income it usually means working harder. In fact, many are afraid to grow
their businesses at all, because they think it will mean more work and more stress.
And it will!
The added revenue just isn’t worth it to them.
Now these same entrepreneurs (and you may be one of them) think the way out
is to create some form of “passive income.”
What they mean by this is income based on a product you create once and then
earn money from forever – or at least a long time – without having
to do much – or any – additional work. The fantasy is to sit on the
beach, sipping margaritas, while the money rolls in.
That, in fact, the plan was for “The Way Out.” To be a passive
income generator. A business that could earn money all by itself. One that could
run on automatic.
[ learn
more passive income myth ]
Enhance your retirement years by acquiring passive income
When I decided to retire I knew that acquiring passive income makes sense.
Few pensions are sufficient to pay for luxuries like new golf clubs, deluxe
automobiles and the exciting vacations that we now have the time to enjoy.
There's also the concern that one's investments may go sour through no fault
of one's own. Or one may get caught in a scandalous bankruptcy like Enron and
lose one's pension entirely. Who knows what the future holds? The one certainty
is that there will be surprises.
The only security is to be acquiring passive income that you can control, no
matter what happens.
My belief is that everyone has something that really interests them and which
they know more about than most people. You don't have to be a world expert, just
a bit more knowledgeable than others. If you have that extra knowledge and you're
passionate about your subject, you can start acquiring passive income in next
to no time.
You don't have to be expert at selling. You don't need a garage full of stock.
You don't even have to leave home.
This method of acquiring passive incomeis simply a matter of using your computer
skills and the expertise of the back-up team at SBI. It took me just 33 days to
start acquiring passive income.
Thousands of ordinary people like me and you are making extra money every month.
I have a lot of fun and it allows me to go out on the golf course feeling more
relaxed and happy with life.
[ View more detail about it ]
Here's the essence of the Infinitely Rich strategy
Let's adopt the definition of "rich" from R. Buckminster Fuller, the great thinker and inventor of the twentieth century. "Bucky" said that if you stopped working today, you could determine how wealthy you were by how many months you could survive without changing your lifestyle and without working again. For example, if you had monthly expenses of $3,000 per month and you had $10,500 in assets, you could last three and a half months. As a result, you would be 3.5 months rich. It's that simple.
The key to being infinitely rich? not having to work ever again? is to have assets and passive income ( income you get without working) that are equal to or greater than your expenses. In the example given above, if you had assets that gave you $3,000 per month in passive income , you could last forever. You would, therefore, be infinitely rich.
There are four basic ways to achieve infinite wealth by this definition:
First, reduce your expenses. And even if you are poor, taxes are probably your biggest expense, so you must reduce your taxes. Most traders don't know how to deduct all of their expenses, yet you can. And we'll show you how in this course. Moreover, I don't want you to be frustrated when your CPA says you cannot do these things. Instead, I'm bringing in people who will help you implement these strategies.
Second, increase your assets. This means pay yourself first. Allow your assets to grow so that your money is working for you instead of you working for money.
Third, increase the passive income you receive from your assets. The last concept is so simple and so few people think about it. Yet it is incredibly powerful. When I realized the power of this I immediately figured out how to increase my passive income by $1,700 per month. And you probably can increase your income as well? just by following this key principle.
Fourth, once you've achieved infinite wealth, it is then very easy to raise your lifestyle and bring luxury into your life. Why? Because, you are now on the fast track instead of being in the middle of the rat race.
These techniques and procedures are very simple. Anyone can become infinitely wealthy in about five years? no matter what your age or your incom ? just by following these simple steps. But few people do. They are in the "rat race," always struggling to pay this month's bills. And, that's why is so important for you to get the right plan and rid yourself of personal blocks to following them right now. << click here for more passive income business info >>
Partner Sites:
Credit Ratings |
For Valve |
ATV Site |
Trimspa Site |
Speed Reading Site
3 Ways to Create Passive Income
A passive income is one that comes in no matter what--even when you are not
working (or can't work.) It's something all of us will someday want and possibly
need.
There are several paths to creating a passive income. I am going to quickly
give you three ideas on how to get it done:
1. Invest small amounts of money over a long period of time.
2. Use other people's money to leverage wealth.
If you never use other people's money to help you build wealth, you will limit
your wealth potential.
The amount of money you have to invest in a new venture is always limited--the amount of money other people have to invest in that same venture is virtually unlimited.
3. Create strategic alliances.
Have you ever noticed that the same people seem to be on the "inside track" when it comes to new products online--and that often you seem to be the last to know? Here's why:
There are a relatively small group of people who have large lists and have created strategic alliances with one another. When a new product is about to be launched, they get on the phone and put together a promotion that allows them to be first to the marketplace and get the lion's share of the profits.
[ All description about create passive income ]
to modify passive income rules
This section would improve capital formation opportunities for small businesses,
preserve family-owned businesses and eliminate unnecessary and unwarranted traps
for taxpayers.
For example, one of our member companies, a small family-owned hotel company
in the San Francisco area, has beenan S corporation for twelve years and during
that time has failed the excess passive income tests at least twice. In 2002,
the company failed the excess passive income test as the result of a merger of
a local bank investment. The company realized a large capital gain as a result
of this merger and failed the excess passive income test even though they had
no control over the circumstances which resulted in the capital gain.
The significant detrimental effect of this example is not so much the paying
of the excess passive income tax, but the fear of failing the test three years
in a row and losing the company's Subchapter S corporation election. A profit-making
entity should not have to regulate the nature of its profits for fear of losing
S status. Because the company was previously a Subchapter C corporation it is
subject to the excess passive income rules. The tax code is not consistent with
regard to the application of the excess passive income sections. Corporations
that elect Subchapter S status from their creation are not subject to these tests
or their resulting tax effects and losing their Subchapter S status.
[ To
modify the passive income rules ]
Top 7 Mistakes New Practitioners Make
Learn what pitfalls to avoid early in your career and get a successful start in real estate.
BY TERRY WATSON In Trump: The Art of the Deal , entrepreneur Donald Trump gives his own take on what it takes to succeed in real estate: If you take care of the downside, the upside will take care of itself. In other words, if you have a contingency plan for everything that can go wrong, you can't help but succeed.
You may not end up as wealthy as The Donald, but you should approach your real estate sales career with the same attitude: if you know the top mistakes that prevent real estate professionals from realizing their full potential, you can avoid them-and take your career further, faster. Here are what I believe are the top seven hurdles that could stand between you and a successful real estate career.
- No Business or Marketing Plan. If you went into business for yourself and approached a bank for a business loan, your loan officer would want to see two things: 1) your income statement and 2) your business plan. Well, when you go into real estate sales, you are going into business for yourself. But many salespeople have no clear goals or timeline for achieving their goals. Consistently, real estate professionals who have a written business plan are more successful than people who don't. If you don't know where to start, you can copy a sample real estate business plan from Palo Alto Software Inc.'s Business Plan Pro . The company also offers Marketing Plan Pro .
- Not Using Available Resources. Even if you're new to the industry, you don't have to recreate the wheel. Take advantage of all the resources that are around you-from your brokerage, your colleagues, and professional organizations. Find top performers in your market or other markets and ask them to mentor you. Read each issue of REALTOR® Magazine and use all the resources available at REALTOR® Magazine Online. Each issue of REALTOR® Magazine is packed with tips from successful practitioners or trainers on how you can become more successful.
- Not Maximizing Your Productivity. If you look at top-producing real estate professionals who are selling 600-plus units a year, you will notice that they have two things in common: assistants and systems. These practitioners are multiplying their efforts and increasing their output through people and technology. According to the 2003 NATIONAL ASSOCIATION OF REALTORS® Member Profile , real estate practitioners who used at least one personal assistant had a significantly higher sales volume than those who didn't. You may erroneously think that you can't afford a personal assistant. But think again. If you can significantly increase your income by increasing your efficiency and the number of transactions you can close in a year, you can't afford not to get a personal assistant.
- No Income Buffer, Passive Income , or Nest Egg. What often kills new real estate practitioners is the concept of lag time. When you sell a house, you typically don't get paid when the contract is accepted. The average contract is written for 45 days. In a perfect world, you would get your commission check 45 days from the date it was accepted. In the real world, you don't always get paid on time. What could go wrong? Maybe someone forgets to order the title, water certification, village inspection, pay-off letter, survey, termite inspection, or income verification. If you are in a hot market, the title company could be backed up for two weeks or longer. The closing date could be pushed back days or even weeks. A successful real estate practitioner needs a line of credit and a financial cushion of three to six months of personal expenses to survive. You also need passive income -or income coming in from investment property so that you don't have to be desperate to close a deal. When that check finally arrives, don't forget to put some money aside for your nest egg. Click here for more related info >>
Build Your Passive Income Business the Right Way
By Erwin Tjong
These
days the word integrity is not the first one that springs to mind when talking
about the business world. It seems that everyone is looking out for number one,
and unfortunately, the rights of consumers, employees and customers are often
an afterthought. Looking at the news, you may understandably be left with the
impression that there are no honest businesspeople left.
Fortunately, this impression is an erroneous one. There are still plenty of
honest business people in today’s world. People who make a
great product and sell it for a fair price. People who treat their employees like
human beings and not cogs in some giant corporate machine. These types of business
people not only survive – they thrive –
even in the competitive marketplace we find ourselves in today.
This is because consumers respond to integrity. If a businessperson is honest
and forthright, the customer will return, and tell all their friends. The recent
slide in business ethics can actually work to the advantage of the honest businessperson.
When your customers see that you are honest and that you deliver what you say
you will, they will tell their friends, and those friends will tell their friends
and so on and so on. This type of word of mouth advertising is impossible to buy.
It must be earned by honest dealings and hard work.
It may be tempting to cut corners on quality or take advantage of a naïve
consumer. But these dishonest strategies simply will not work in the long term.
If you treat your customers and employees shabbily, believe me the word will get
out. You may enjoy a short-term gain, but your reputation and your business will
suffer in the long run. There is no shortcut that eliminates the need for hard
work and perseverance, either in business or in life... start
to build your passive income ...
Why even my Doctor friends need passive income
Several years ago I began doing motivational speaking for a group of Doctors.
I would come into their meeting once each week and give them my step-talk.?
Now we all think of docs as ? ig money guys and gals? after all, these folks
all had salaries in excess of $125K and many of them earned over $250,000.
Imagine my surprise when one of them confided in me?
Being an MD isn't any better than working at a factory
He went on to explain that he worked 70 hours most weeks, trying to keep up with
his patient load and fulfill the needs of his doctor lifestyle. Between private
school for his kids, the large house payment, the new Volvo for him and Navigator
for his wife, he felt like a slave.
But that wasn't the most startling thing? had known a number of people who could
outspend? $100K+ incomes? the startling part was what he told me next: The day
he stops working is the day his income stops.
For all the glamour, all the education, all the income?e didn? have one dime
in passive income created from all his work. He was a slave to the clock just
as much as a factory worker.
Creating a Passive Income online is Simpler than it Ever Was Before
Due to a dramatic change websites began making a couple years ago, but is just
now beginning to be used, anyone can now create a completely hands-off, no-work
passive monthly income. What is that change? Simple: The move to double-pay affiliate
programs.
[ more
passive income detail ]
Passive Income Lifestyle
This forum is founded by Grazyna Pajunen .
Some people think that our past creates our present, but actualy this is NOT true.
Our future (our dreams and visualization) creates our current lifestyle.
Let's learn to dream and get encourged to dream by sharing experiences with each other, OK?
We want to win the Money Game and create a lifestyle of our dreams.
Most of us never taught how to win the money game and if we were, most likely we were taught by people who weren't good at it.
The first critical element in winning the money game is knowing exactly what to do.
In this forum we will share the information on how to win the money game, so that you never have to work again... unless of course, you choose to.
To create a great lifestyle we need to be able to create a balance life. It includes ten different areas that are equally important and a lot of us are unable to balance them.
Please take a few minutes and rate yourself on a scale 1 - 10 (10 is the best) in each of the following areas.
- 1) Sufficient income
- 2) Passive income
- 3) Good Money management skills
- 4) Health and Fitness
- 5) Recreation
- 6) Personal and Professional Mastery
- 7) Business and Career
- 8) Primary relationship
- 9) Family
- 10) Social and Friendship
You can see that some of those areas need to improve. Click here for more passive income info >> |