How to Turn $10,000 Into a Passive Income Empire
Eight years ago, I bought my first condo with just under $5,000 down. We only lived in it for a few years, and when we moved, we decided not to sell and instead rent the condo out.
We made good income on it for the first few years, but you certainly couldn't call it passive income. In between renters, we would spend hours cleaning, painting, repairing, listing, showing, and screening tenants. And when we had renters, we'd spend hours and a ton of money fixing things and listening to complaints.
Since then, we've moved a few times and now have three rentals that churn out totally passive income. I talked to the property manager maybe once a quarter but get to cash checks every month.
Source Fool.com
