I recently decided to add a Brand new source of passive income to my portfolio. It’s actually one of the oldest, most documented form of passive income, real state.
Luckily I had been able to put together some savings over the past few years. But lately I was seeing those savings decrease without leaving anything meaningful behind. I guess I have been investing a bit in different ventures here and there. On their own none of these investments are significant, but combined they really starting to take an impact on my savings which was making me a bit uncomfortable to be honest… Sure one of these ventures might take off and return all the investments together plus more, but what if none of them does? What if I find myself a couple years from now still trying to make it but with zero balance in the bank?
That’s when I started playing around with the idea of maybe investing in something tangible. I know ending up with a pile of stock of some product that does not sell is probably even worse than simply ending up with nothing, but the brain works funny sometimes, at least mine does, and I felt like I needed that sort of “tie to the ground” feeling that physical stuff usually brings as compared to the whole more ephemeral internet/software world.
So that’s what I did. I started researching on-line and found a retail store for sale that I liked/could afford. The space is small and needs some work, but I really liked the area within its neighborhood and I believe it has the potential to be rented out for a relatively high price considering the investment.
I just got the keys to the place and now have to start thinking about remodeling it. It’s my first time doing this so I’ll have to learn a lot and learn it fast as I go, but I’m really excited to get started on this new path in my life which will hopefully also be a prosper one.