Ten years. One duplex. Every nap time.
I spent 15 years with Campus Outreach as an operations director. My wife and I were missionaries raising our own support, and we wanted extra income so we could give more.
So in 2012 a friend and I bought a duplex right across the street from our house. Seven banks said no. The eighth said maybe. For ten years it brought in about $600 a month, a real financial blessing.
“Running over across the street to paint or to fix a toilet during nap hour with my monitor that barely reached. There’s got to be a better way.”Nick Stromwall
We self-managed. That meant cutting the grass, shoveling snow, fixing holes, and finding tenants. Honestly, it was problematic at best. Passive income for us wasn’t passive.
Then we started having kids. Trying to be a present husband and father, work my job, and manage properties just got to be too much.
“Really what I was doing was I got another job by owning all these properties.”Nick Stromwall
Then I found mailbox money.
Your time is worth money. If you can get similar returns passively, why wouldn’t you? So we sold our small portfolio and started investing in syndications as limited partners. Same asset class. Same kind of cash flow and tax benefits. Someone else handles the tenants and the toilets.
At first it seemed a little too good to be true. Then I experienced it myself as an investor. Now I help other busy families do the same, so their money works while they focus on what matters most.
New to this? Start with how to get started investing in alternative assets. Thinking about selling your rental? See how the 1031 Light compares with a traditional 1031 exchange.