One option we're considering is creating a portfolio of investment properties. Money is currently cheap, we have stable jobs & outstanding credit, & could cash flow months without renters (assuming we sell our vacation property).
From the small amount of research I've done, I'm creating a series of steps/decisions to think about.
- Choose a market
- Determine the amount of investment
- Run various cash flow scenarios
- Select a property
- Decide if we want to use a property management company
- Rent property
Do you own rental property, or have other ways to generate passive income? I'd love to hear more!