Do they exist? According to several email newsletters you can get rich through real estate and the stock market while you sleep. I am also drawn to the promise of "Write a Book in 28 Days." I subscribe to and read through many of these emails. Hoping. Praying something will strike me. Reach out and grab me. Force me to act upon it.
I start with real estate. Just a little rental where I can break even. Where I can use half my 401K for a down payment (and then pay myself back with interest with my after tax dollars ;-) Okay, I'm willing. I can't retire on what my 401K will be anyway. And what if the market drops or sucks or changes dramatically. Maybe now is the time to plop down that 50%.
So what does that get me in Los Angeles? Well, if I want a commute time to my day job of less than 2 hours I'd better look elsewhere. A 1/1 condo (that's without dirt, folks) for under $450,000 is impossible. As opposed to another market, let's say Texas, where that kind of money will buy more bedrooms and baths and land scenarios than are even offered in Los Angeles. But I don't live in Texas. And my first attempt at passive income screeches to a halt.
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