This post introduces the meaning of passive income, the different sources where you can achieve it, and 4 ways through which you can invest in real estate as a passive income option.
Plus some tips if you’re looking for passive income ways in Egypt specifically.
Disclaimer: I am an engineer. I have nothing to do with finances and I do not give any financial advice. Thank you.
Real estate investing is considered one of the major sources of generating passive income. Anyone who is looking to get into the realm of financial freedom has to have real estate at the top of their investments list.
However, not everyone knows how to get involved in this business and most people think that you need to have a huge capital to start in such investment, but this is not true.
As I approached the last few days of October, which were the last days left for my 30-day notice, I was thinking of what I will do next. To be honest, I was getting a little bit nervous about the idea of not having a salary by the end of the next month.
And although I only pay for my own expenses and no one is depending on me financially, I still felt like this was a somewhat risky step, but as is the case with taking risks, you measure the possible losses and the possible gains, and, in this situation, the possible gains to me weighed a lot more.
In case anyone is ever wondering.
I’m starting this blog as a way to track and document my very unsettling and skeptic journey of achieving financial freedom and starting my own business (and, you know, becoming my own boss!).
The reason I use words like “skeptic” and “unsettling,” and I would go as far as saying frightening and insane, is that I don’t personally know anyone who’s ever done this before.
At least not someone who didn’t initially have a huge sum of money (because they come from a rich family or so) to start with. Everyone I know follows the typical “active income” lifestyle: A day job and a salary for the hours they worked at the end of the month and that is it. And most of them live a month-to-month kind of life.
So, I am certainly taking a huge leap of faith here!
But before I take you on my journey, here’s a brief background about me first.