Flips or rentals? Which of these two passive income properties do you think is best for business?
Both are fantastic options for generating passive income, and each has its own advantages. Let’s take a look at both to find out which is better. I will also share my personal opinion on what I think contains the most water.
I started flipping houses and it was great. He brought a lot of money. The trick with flipping is that you have to do it consistently and regularly if you want to win more.
If you have a hard money loan, delays will reduce your earnings. You still have to pay the lender on time anyway, so it can be quite a challenge. This is the reason why you need to constantly change houses to keep the flow of money flowing. Flipping is great, but it takes a lot of work to maintain.
On the other hand, rentals are more secure. It made a lot more sense for me to invest in that than flipping houses, as it’s more stable and at the same time helps me shape my own legacy to pass on to my daughter, her daughters, and so on.
With rental properties, the funds keep coming in. You will have to shell out a lot initially and wait a bit longer for the earnings to come, but once everything evens out and stabilizes, the passive income will keep coming.
So to answer our question about which one is best for you: it depends.
It depends on your goals. Do you want to benefit from the properties in the next 3 or 6 months? So moving home is a smart choice. Personally, I lean more towards rental properties for the security.
When looking for these opportunities, don’t be afraid to look at other areas to boost and grow your business. It will take a lot of work, but when you see how much it boosts your business, it will be worth it.
Finally, experience will always be your best teacher. Trust me on this. I’ve been on both sides and I wouldn’t know which is better for me if I hadn’t tried both.
I hope I was able to help enlighten you on this. It really depends on how you envision your future. If you have questions, please don’t hesitate to reach out. We are always happy to help.
