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The following article was published in our article directory on June 7, 2013.
Learn more about SpinDistribute Article Distribution System.

Create Passive Streams of Income

Article Category: Finances

Author Name: Andrew Hines

Looking for the Recipe for Financial Freedom?

Passive streams of income are essential to financial freedom. So why don't more people have them?

Well if you remember back to your childhood and teens, you might recall your parents responding to you asking for money by telling you to "go get a job".

Society has conditioned its people to work for money... This is because society is conditioned to believe that we have to directly provide value by either exchanging time for money or providing a direct service.

The options for Passive Streams of Income are as follows:

1. Create an Asset that produces value

2. Buy an Asset that produces value

What is an Asset that produces Passive Streams of Income?

An asset is anything that puts money in your pocket... that means you are an asset.. but the goal should be not to have to rely on you for all the money

Here are a few examples of Assets that can produce passive streams of income

Real estate, book royalties, vending machines, franchises, licencing ideas, licencing use of digital content, multi-level marketing, creating online content that converts affiliate sales.

Where do I Start?

I grew up challenging a few common assumptions about the way things should be.

My family didn't have a lot of money and I remember walking around in my house and not wanting to go into the kitchen because I could hear my parents having a heated discussion about money.

I distinctly remember my dad saying "we don't have the money for that" on numerous occasions.

I came to resent that lack of money because it seemed to create such discomfort for my family. While I did have a wonderful childhood in spite of this and love my parents very much. I was determined to do things differently from a young age.

I'm not going to say it was instant but I first set my eyes on a passive income stream when I was in my first year of university.

A local real estate investor had built 4 massive 4-plexes on a busy street out in front of the university entrance.

Each unit had five bedrooms, each of which were rented out for $450 per month....

If you do the math on that you'll get $36,000 per month in gross income per month.

Based on educated assumptions about expenses, this gentleman is earning about $135,000 per year of net cash flow from this one property.

A frugal person could retire on this one building and never have to work another day in their life...

It was upon seeing this that I determined that I was going to own real estate and generate that kind of income, passively.

I started investing in real estate at the age of 24 and by the age of 26 had over $2000/month in positive cash flow from my investments and after a bit of upfront work, I do consider these to be passive streams of income.

I then learned about how I could create passive streams of income using the internet and fell in love.

Knowing the kind of leverage a person could get by effectively driving traffic is so interesting to me... I decided to start blogging for income.

I think of blogging and creating digital content like I think of real estate. Once I've put my content up, it stays there and continues to generate leads.

If I'm consistent about generating content, I'll generate more and more leads... and generate more sales of affiliate products which I don't really have to do anything for (just refer the traffic and collect a check)

Create digital real estate and you'll be creating passive income streams. Visit http://www.empowernetwork.com/almostasecret.php?id=andrewhines to watch a free video on how you can use a simple blogging platform to generate traffic and passive streams of income.

Please visit my blog post and post your comments at the bottom: http://www.empowernetwork.com/andrewhines/blog/passive-streams-of-income-create-digital-real-estate/

Thanks for Reading

About the Author: Andrew Hines is an entrepreneur and advocate for passive income. To learn more about creating digital real estate, visit empowernetwork.com/andrewhines.

Keywords: passive income streams, passive streams of income, passive income, create passive income, multiple streams of income, income blogging, viral blogging, work from home, empower network, andrew hines

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