Comments on: Alternative Income Level 1 Update

By: MR

MR — Wed, 18 Jul 2012 03:25:18 +0000

Thanks, yeah the 9 years was based on a low saving rate model without any side income estimated in. It was a good model based on the estimates at the time, but I’ve been a lot busier with side income. It’s definitely acting as an accelerator in the savings process.

By: MR

MR — Wed, 18 Jul 2012 03:23:59 +0000

Hmmm, that sounds like very good advice. I’ve been looking at the cheaper part of town, but I think what you say makes sense. I think I will re-evaluate my selection choices.

By: Financial Independence

Financial Independence — Mon, 16 Jul 2012 18:19:07 +0000

WoW! Am I correct – you achieved Lvl1 in just over 2 years instead of 9.

This is an eye popping experience. Amazing. Congrads!

By: First Gen American

First Gen American — Mon, 16 Jul 2012 12:57:16 +0000

Just be VERY VERY careful about the location. Rentals can be a nightmare if you can’t fill them with quality tenants and quality tenants want to live in choice locations which will cost more to buy.

If you are to learn anything from my experience, it’s better to pay more upfront for a good location than strictly looking at ROI. ROI can look pretty good on cheap properties in the slummy parts of town but they are such headaches with high turnover rates and lots of damage to your property.

Good Luck. I think about rentals again from time to time as well.

By: Money Reasons

Money Reasons — Sat, 14 Jul 2012 21:08:21 +0000

Thanks! It’s a baby step, but those first few steps are the hardest (or so it has been in my case).

By: Money Reasons

Money Reasons — Sat, 14 Jul 2012 21:07:20 +0000

Yeah, I don’t consider blogging passive income either. The figures above are really just dividends and interest. In the future, I plan to incorporate rental “cash flow” also…

By: Joe @ Retire By 40

Joe @ Retire By 40 — Sat, 14 Jul 2012 05:57:41 +0000

Congratulation! Hope you get to the next level soon.
Rentals take a while to generate income, but once it starts rolling it should be very nice.

By: Lance @ Money Life and More

Lance @ Money Life and More — Fri, 13 Jul 2012 23:09:23 +0000

I don’t really consider blogging passive income as I spent multiple hours on it a week and if I stopped updating my blog the income would slow down or stop. Good luck with your goals though and I am glad they seem to be coming faster than expected.

By: Money Reasons

Money Reasons — Fri, 13 Jul 2012 20:54:34 +0000

It’s definitely a work in process! Getting a rental property that provided a cash flow would be very excellent. Right now my Level 1 number is based on the dividend stream that I currently have. Blogging is a great way to go too, I don’t include my blogging income as part of my alternative income stream (although I probably should huh… it’s just that it’s not predictable enough).

By: Kathleen @ Frugal Portland

Kathleen @ Frugal Portland — Fri, 13 Jul 2012 19:04:35 +0000

That’s great! I was just thinking I’d like to plan on making an additional $10,000 annually and can’t figure out how, without taking on another full time job!