Here is your opportunity to start doing
Posted on September 3rd, 2010 by adminHere is your opportunity to start doing that.
The first step towards living the lifestyle that you’ve always dreamed of is to determine how much passive income you need to become wealthy.
Next, assess your debt repayment expenses. There are positive and negative debt repayment expenses, and it is important that you understand the difference. Positive debt is when you use other people?s money to purchase an income-producing asset (leveraging). You will be acquiring a lot of positive debt through real estate investing. (For example, you take out a loan from the bank to purchase a new rental property that produces a positive cash flow. Although it is someone else?s money, like the banks, it still creates a positive revenue stream.) Positive debt expense is a positive cash flow that puts cash into your pocket. Negative debt expense is a negative cash flow that takes money out of your pocket.
Do what you can to reduce your negative debt.
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