4 Steps From Trasactional to *Residual* Income

I kicked off this morning with a jog on the beach with my girlfriend, Carrie… and just got to Starbucks (my second home) to get this out to ya.

Alrighty, before we dive into the 4 steps from transactional to residual income… let’s make sure we’re on the same page.

What is transactional income?

Example – You find a great deal on a house and wholesale it for $3,000 bucks. You get paid ONCE from the transaction.

What is residual income?   <—– what you want!

Example – You own a house free and clear, rent it out for $700/mo. After taxes and insurance, you have a solid positive cash flow. You get paid month after month after month.

4 Steps From Transactional To Residual Income

I was talking with a fellow investor yesterday (a guy who has done hundreds of deals) about transactional vs. residual income… and he shared these 4 steps with me.

Here they are…

Step 1 – Get transactional income to the point where it covers your lifestyle needs.
You could do this by wholesaling or flipping properties. One of the great benefits of wholesaling is that you don’t need cash, credit or experience to get started.
Step 2 – Continue to grow your transactional income to exceed your lifestyle needs. The first time you do something is the hardest. Each time after it gets easier. Just continue wholesaling or flipping properties.
Step 3 – Take your excess cash and put it into cheap houses with large cash flows.
Even if you don’t have cheap houses in your area, there are plenty of markets around the country that do.
Step 4 – Divorce yourself from your business.
With the right systems in place, whether you work or not, you get to sit back and enjoy your residual income.

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Your Next Step – Register Below!
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The investor who shared these 4 steps with me has an in-depth training on this process.

In it, you’ll learn how you can build your residual cash flow… even if you’ve never done a deal. AND you don’t need cash or good credit to implement this strategy 🙂

Get registered here:
http://www.privatemoneyblueprint.com/residual

Happy Investing!
– Patrick

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10 Hour Wholesaler

One Comment

  1. Sounds like a plan!

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