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Success is often gauged by one’s income. That’s just the way of the world, regardless of how much you agree with it, and it is important to understand that there are several forms of income. Most traditional careers or means of earning a living focus on one particular income stream, that being the type where you trade time or effort for compensation.
Look at a traditional job. You spend a certain amount of time and effort and you get a paycheck as a result. If you don’t work, you don’t get paid. Employers (at least some, anyway) work to help their employees create a better tomorrow through building of retirement accounts. These represent a sort of asset that is cashed in later in life to replace a previous income source.
Assets are a second from of income that we should all pursue. Whether it’s the selling of items of value, retirement accounts that build over time, stocks that pay dividends, or appreciating commodities like real estate, assets all represent an income source. The catch is that many assets need to be sold or liquidated in order to produce income, thus relieving you of the asset in the process.
Okay, so we’ve seen that traditional and asset based income each have their ups and downs. What about other income sources? What options exist? As a successful real estate investor and a successful entrepreneur, I’m a huge proponent and example of how monthly residual income can truly change your life. Ready to hear more?
Real estate is one of those great investment vehicles that truly offers you the entire gamut of income opportunities. It can pay you now, it can pay you later, and it can pay you residually or monthly. Few investments can claim to do that and, for this reason alone, real estate is a winner.
With respect to real estate, I want to talk a little about what I like to call the philosophy of monthly income. I refer to it this way because a commitment to generating and maintaining monthly income from real estate is indeed a philosophy and likely one that differs from the way things have always been for you.
Ask yourself what income sources you’ve relied upon in the past. For most of you, the answer will be traditional income of some sort or another. Whether it’s income from a job or quick cash income from real estate, this is what most people are used to and, for this reason, it is easy to sit in a comfort zone with this type of income.
What I’d like for you to do is consider a slight change of philosophy, or a paradigm shift if you will. What’s the best kind of income? I think it is the kind that you don’t have to work for and that comes in, whether you’re doing anything or not. That is what monthly residual income is and is what it can be for you when you invest in the right sorts of things, such as apartments.

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