Want $1,000 in Passive Income? Invest $5,750 in This Warren Buffett Dividend Stock and Wait 3 Years
Passive income has been hard to come by over the past several years with interest rates sinking to extremely low levels. Low interest rates are great for stock investors in general, as they support higher prices. However, they are tough for income investors.
Real estate investment trusts (REITs) have been a fertile place to find income, but many are also in businesses that can be highly cyclical -- which means the dividends aren't always dependable. But here is one income stock that has the Warren Buffett seal of approval.
Store Capital (NYSE: STOR) is a holding of Warren Buffett's Berkshire Hathaway, and it's a classic Buffett-type stock. The company's name is an acronym for Single-Tenant Operational Real Estate. It's a REIT that leases its properties under long-term rental agreements called triple-net leases, in which the tenant bears most of the operational costs, including taxes, insurance, and maintenance.
Source Fool.com
