The only ways I know how to get a monthly income is through 1. Real estate. Renting out houses.
and
2. Buying stocks that pay a monthly dividend.
The only problem with monthly dividend stocks is they pay so little. If a stock has a dividend of 10%, well you’ve got to divide that 10% by 12.. And that’s how much you’ll get each month.
Renting out houses is also an idea. I currently own 2 rental properties. But I’m curious to know if anyone knows any other options..
Someone here said something about Jumbo Money Market Accounts. I think those usually only pay annually though, and the most you’ll get is like 2% back a year.
If someone told me a way I could get like 10% back on what I invest, every month.. Well I feel I would be in debt to you for sharing this knowledge..
I was hoping for real good serious answers.
Thought there was a bunch of well off old dudes on this site?
Rent income is one of the most misunderstood topics on this forum. You really shouldn't be looking at it as monthly income but more as a long term investment. Most haven't even recouped their initial investment yet they are acting as though they are getting a return. The payoff takes a while.
The only ways I know how to get a monthly income is through 1. Real estate. Renting out houses.
and
2. Buying stocks that pay a monthly dividend.
How is that any different than a dividend stock? You still pay out a certain amount of money, and receive a certain percentage return periodically. Your downpayment for a property isn't spent money, it's equity that you still own.
Or am I misunderstanding you?
sell a product or provide a service
10% of your initial investment back every month? Yeah, I don't think that's very likely, boss.
I think he just told you to get a job.
My main point is that investors in rentals really should not look at it as monthly income for a long time. Look at it as a long term investment. I've been in this business 13 years and I've seen many fail at rentals, but more importantly, I've seen many that were just disappointed realizing it isn't a gold mine. All of that money they thought was in their pocket gets diminished with the big expenses (repairs, vacancies, court fees, etc.)