How To Create $10,000 Passive Monthly Income And Retire – Real Estate Investing

If you are using the automation and outsourcing techniques that I teach in my Push Button Method and in my Six Month Mentor program, you will eventually want to outsource your buyers.
This can save you a huge amount of time and effort and is not that expensive to set up. There are some issues you have to solve before it will be an effective strategy — watch the video for details.

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Read the Transcript:

Bringing in a $10,000 monthly income is more than just possible; it’s a reality for plenty of real estate investors.

“Based on my own background, the main thrust is, ‘Where is all of this leading? What’s the finish line?’ For example, how do I create a minimum $10,000 a month permanent income, not lease options that can cash out? Besides paying off the single family houses, which is great, how do small to large apartments and self-storages figure in this ultimate plan? In short, where is all of this leading?” — Jeff from Seattle, Washington

Joe: Well, the goal is to have 100% passive income and just like you say here, if you can get $10,000 a month, you have $120,000 a year and that’s a pretty good income, and if you own rental property or real estate in general, typically rents go up over time because inflation makes them go up, so that makes your passive investment inflation proof. If you buy a fixed cd or annuity and you know it’s going to be _x_ amount of dollars, you know that it’s going to stay the same until you die, whereas real estate has the potential to go up and the likelihood is that it will go up over time.

Joe: Values fluctuate and we’ve all seen a big adjustment in values across the country, but income has stayed pretty stable across the board, all over the country, and we’ve seen a little bit of adjustment in rents on the downward side over this last year or so. I was surprised that it didn’t drop earlier but it didn’t. Then we’ve seen in the last year that it’s dropped maybe 5 to 10% in some places.

Joe: But it’s still a good solid investment. All of the real estate that I own is still bringing in income every month. I own property free and clear. I also own property that I bought “Subject-To” that is paying off a loan over time and will work really well, and I even bought properties that I used loans to do. You can’t get investment loans these days that make any sense at all, and I wouldn’t suggest that anybody do that (there are some other problems with that as well which I won’t cover in this program).

Joe: The other question you had was,

Jeff: “Should I buy commercial property like multifamily and self-storage?”

Joe: If you have the cash, they can be good investments. If you look at single family homes and you look at the rent to price ratio, it’s much higher on a single family home than it would be on a commercial property, depending on where you buy. If you buy in good solid, blue collared neighborhoods where you can get substantial, professional, competent property managers, that’s what you want, because for it to be passive income, you have to have a good property manager to handle the work for you, or good property managers if you’re in multiple areas like I am.

Joe: It’s very important to have good people that can do this for you. You don’t have to manage the properties yourself, whether it’s self-storage or commercial. So if you have good property management, it’s one of the reasons to buy commercial, which from what I hear from people that own a lot of commercial property, is easier to manage.

Joe: But you also have the potential for more vacancies, especially in a volatile economic environment. And you still have to make payments on the mortgage, unless you paid cash for the property, and then it doesn’t hurt as bad, but it still means that you’re going to have less income per dollar that you spent. So if you want to get a 5-35% return, which you can do in real estate and which I’m doing, and if you do even more things to it like become active in the investing part of it or you turn around and sell some of the properties that you buy, then single family homes make a lot more sense for that reason.

Joe: I’ve done commercial, I’ve done self-storage and have worked in those environments but I like single families better, and the majority of what I have in my portfolio is single family homes, and I’d recommend the same for you.

To read the rest of the transcript, click here:

20 thoughts on “How To Create $10,000 Passive Monthly Income And Retire – Real Estate Investing”

  1. I just recently retired after 10 years as a regional Property Manager over Muitiple properties.

    Everything you said here is correct. The only thing in this area that I did not see you cover is with a competent manager and increase of rent often without the owners constantly giving those orders, many owners get shocked to find their Propertys are worth double if not more in just a 3 year period. This occurred with all the properties I overseen. I will not specify here what new buyers aim for when looking however I will say it benefits the old owners and managers . Managers receive increased pay and benefits for taking specific steps and owners make out with alot more money during and after the sales.

  2. If a tenant is paying their rent directly through their employer, it eliminates any chance of them mismanaging their finances or for any other mishap to occur. Therefore, you'll have the peace of mind knowing that your tenants will be held accountable and will pay reliably. Rentremedy(dotcom), 1-800-931-0449

  3. Nice voice! I get tired of listening to some of these fast talking YT screamers who think they're competing with each other to see who can talk the fastest! It's a 'no brainer' why you get seller's to say 'YES' nearly every time!

  4. i found this video to be very helpful i am just starting into this… just got my first studio apt built and have one single family home.

  5. is there a big danger to buy in a bubble market, is it worth to wait a year or two and see if the bubble burst? if the bank interest rate is low now, is it an opportunity to take a loan or risk since rates can go higher? thanks

  6. #Romeo Robertson I only own single-family homes at this point. Once I acquire enough and build a good base of cash flow, I would like to buy a commercial property. I see a lot of potential in being able to buy a million dollar property, fixing it up, then buying another one. It seems as though it would be much more efficient than buying individual homes, even if the cap rates aren't as high. I would like to rehab an apartment building, then 1031 it for another, and repeat. I probably won't sell any of the homes, however. @Daniel

  7. my dad declared bankruptcy and his little real estate properties is the only income he has besides SS. i definitely hope to get into real estate at some point. credit score is ridiculously low at the moment and i quit my job. i know that was dumb but i simply had to and have other options i am pursuing. oil painting can actually pay if you are good enough and in multiple locations. 3K a month is easy.

  8. #Agro BK +Bry cE
    Just seeing this now, first one went very well. Spent about 3 months analyzing and picked up a 9 unit back about 4 months ago at about a true 7.5 cap which is great for my area. Have a great property manager and everything is going smooth. It's a long term hold so all income goes into the building and towards the debt service. Building should be paid off in 13-14 years and then I will use it as a source of income when I retire. 3-4 more buildings to go and I'm all set! @Damir Srdanovic

  9. Looking for 100% financing I can help ya. My lender is a private fund that is providing 100% financing on commercial property with fair amount of equity.

  10. Can someone please help me by answering what it means when a real estate company says they do alot of rentals?? Does that mean they own the property and rent them out?

  11. Hi Joe! Thanks for the information. May I ask, are you an investor yourself? I work for an established company. We have some new projects and are looking for qualified long term investors to come aboard. We offer very nice compounded interest rates and are a fun bunch to work with. If you or anyone you know are interest please reply. Thanks a bunch!

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