Financial Independence Through Real Estate Investments And Rental Income – Welcome to Cash Flow Diaries. If you’re looking to quit your day job and live a life of financial freedom, then you’re in the right place because that’s exactly what I’m going to do. Watch and learn how I do it!

My goal is to make enough money to go bankrupt as quickly as possible. I want to beat this goal by generating passive income whenever I can. Investing in real estate with turnkey rental properties, online income, whatever!! Smart Financial Life Decisions! I will share this with full transparency about everything I do with my finances – my successes and my failures.

Financial Independence Through Real Estate Investments And Rental Income

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For more common examples, check out this complete list of posts from the beginning. Click on the titles that interest you the most.

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I look forward to hearing from you and encourage any tips, advice or questions you may have about any of the topics on this page. Google the term “financial freedom” and you will find it, often, financial freedom and financial independence. are used interchangeably. But are they really the same?

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Think of a small child. When a small child begins to learn to walk, he achieves a certain degree of independence. They no longer need adults to carry them from point A to B. They can just stand up and knock over a cup of coffee now, thank you very much.

But even as children gradually become independent, any parent can tell you about the “I’m bored” sound when you walk for a long time. This suggests that even if the child knows the basics of walking, he cannot walk everywhere alone.

So they haven’t achieved full phone FREEDOM yet. We will visit again when that child gets his driver’s license. 😉

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The same basic framework applies to finance. Many are beginning to work towards financial independence, which is an important step on the road to complete financial freedom.

Let’s examine financial freedom versus financial independence, where you are on the road, your financial goals, and how you can achieve financial freedom through real estate investing.

Let’s take a toddler learning to walk and apply that to your finances. Are you at a point in your life where you are no longer mobile, so to speak? Can you go where you want? Or are you living paycheck to paycheck?

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Think of it this way. What would happen to your life if you lost your job today? Would you still have enough money from sources other than your salary to cover your living expenses? Do you have an emergency fund ready to save money? How about enough money to support your current lifestyle?

And yes, I’m talking about income, not savings. The savings will end sooner or later, but endless money will last forever. The money you earn at work is working capital. To achieve financial independence and financial freedom, you need multiple sources of income, the kind of money you make while you sleep.

No one achieves financial freedom or early retirement overnight. It is a process, and there are many important points on the journey.

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If you lost your job today or retired, but still have enough income from other sources to cover basic living expenses (eg food, shelter, clothing), you will be financially secure.

You can of course have an emergency fund that can cover expenses for a month or two. But what if the money runs out and you still haven’t got a job? This is why other sources of income are so important.

Financial security is the first step to achieving financial freedom and early retirement. Financial security gives you the security of knowing that even if you lose your job today, you can still pay for all your important expenses, without turning to mum and dad for a loan.

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What does financial independence mean? If you had enough money to fully cover your current lifestyle, including extras beyond the basics you currently enjoy (such as your latte every morning, your Amazon Prime membership, family trips you take a few times a year), then you would considered financially independent.

Financial independence means you can retire early and continue living your current life without having to work again. To become financially independent, you need to create multiple streams of income. This means that you can continue to earn money regardless of what you choose to do on a daily basis.

Many people cease to be financially independent. But what if we could take it one step further? Maybe being financially independent isn’t enough for you. You will experience true financial freedom – the pinnacle of financial success.

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True financial freedom means your living wage will not only cover the lifestyle you’ve been living, but the lifestyle you’ve always dreamed of. Fly first class every time. Get a suite with a sea view. Extends those front seats.

This is true financial freedom. Financial freedom means having enough money to do everything, without worrying about where the money is coming from.

When your finances allow you to go anywhere and do whatever you want without having to work for it or worry about it, you will be financially free, meaning you can live a happy life without working another day of your life.

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Every healthy child learning to walk starts in the same place and continues in the same way. They go from being completely helpless, they can fall over, they can crawl, they can take a few steps, they can walk unsteadily, and then they can run and jump.

During the journey to financial freedom, everyone can start from a different place. Some may contact a financial advisor, others may check out a financial freedom blog post or podcast. However, the end goal, as well as milestones along the way, are the same.

Many people spend their entire lives living paycheck to paycheck, not realizing that they can retire early or find the independence and life they’ve dreamed of.

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But he is different. You are here because you know there is something better for you, and that you have the power to create the life you have always wanted to live.

The best place to start on your journey to creating a meaningful life with a plan is to find your income goals.

Start with your monthly budget and expenses. Check your accounts and bills, and withdraw items related to basic living expenses – food, shelter, clothing and other basic needs.

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Then you go through all of your current finances and your lifestyle. Track your monthly expenses for everything – the basics as well as all the nice things you’re spending money on at the moment. This is your financial independence number.

Aim to reach that level of financial independence by building multiple streams of income. When you reach financial independence, you will be able to retire and still meet your current living expenses.

Once you know your financial independence number, the next step is to think about all the things you want in life. List them. See how much they cost. This is an important step, as many people underestimate how much they should eat to live their ideal life. Use these numbers to find your financial freedom number.

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Your Financial Freedom Number is the income you need to generate per month to live not your current life, but your ideal lifestyle, to do all the things you’ve always sought, go back to who you’ve been. seek and live the life you’ve always wanted.

Once you have your Financial Security Number, Financial Independence Number, and Financial Freedom Number, you’ll have clear information to plan and start building on them.

Why? Now think of all the ways you can generate different types of income in your life. You can write a book, start a business, create a new award-winning app or engage in many other ventures.

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Okay, now let’s look at real estate. One of the easiest ways to invest in real estate is to buy a property and rent it. Yes, like Monopoly. It sounds very simple compared to other complex businesses, right?

You don’t have to be a rocket scientist to invest in property (although we know some who do). You also don’t need a lot of money to get started.

Let’s say you have $20,000 to invest. You put $15,000 of that into a $60,000 rental home,

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