Mindset, Grit & Failure
Is passive income really passive?
Answered independently in 3 episodes, by 3 different people. Every line below is verbatim from the transcript, timestamped to the moment it was said.
The short answer
What the archive says
01Treat passive income as asynchronous, not passive - Pat's 2008 architecture exam site still makes about $1.5K a month untouched, but products, real estate and portfolios all still need management. source →
02Real estate is not passive income; Mark cites a tenant who lived five months and plans to stay seven more rent-free before trashing the place. source →
03Don't try to be better than the leaders in your space - be different. Pat named Smart Passive Income specifically to differentiate from scammy get-rich-quick positioning. source →
In their words
What 3 people actually said
And the only real ways you get even close to that, because there's nothing truly passive, is through whether it's an apartment building or some other commercial asset. We own mobile home parks. Anything that has a rental recurring money thing to it is going to be great.
But so, listen, I think at the end, it depends on how much we have access to. You know, if you have a decent amount of money, 100k plus minimum, you might want to park it with a great operator, you know, someone like a GC or someone like, I don't do that, but like other people, you can park their money in deals and make a passive income, a truly passive. See, real estate, a lot of people get confused that real estate's passive.
Hey man, founder a smart passive income. Who doesn't want some look? You won't pass a income, but I sure as hell wanted smart.
The episodes
3 episodes answer this
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