I’m coming up on work here soon and its had me thinking about what I want to invest in and where I want that money to go. Just like a kid at Christmas I get a little giddy inside just thinking about it. If you didn’t know I am planning on saving 40% of my income before taxes however I am hoping my living expenses are so minimal that I will still have excess outside of my cost of living expenses. I am looking to add an alternative investment to my belt known as Ground Floor, a peer to peer hard money investing platform like Lending Club. It has high returns and a shorter time period than Lending Club which should allow for a great ROI and passive income generation. With returns around 8-12% depending on the loan and duration I would like to get $1,000 in there as soon as possible and get the money churning out of that platform. I have about $30 in there now thanks to the extremely low minimum required ($10).
Coming up next I would like to get into the Cardone Capital fund for non-accredited investors as soon as possible. It requires a minimum of $5,000 to invest and it has a 10-year time horizon. They anticipate a 6% return per year with it increasing as time progresses and then a big chunk of profit at the end when they sell or refinance. At $300 a year in passive income that would help me hit my future passive income goals substantially. I could also try and reinvest into the fund if it is still open later down the road and would not be opposed to putting in an additional $5,000 into it and bring the passive income total to $600 a year or $50 a month.
I would also like to bring my Robinhood account back up to $10,000 its currently sitting at $8,050. I wish I could make this happen sooner and take advantage of some of the panic selling that has gone on lately however I expect to see some more of that in the future. I would also like to bring up my Lending Club account significantly and believe once I start making money and no longer need to pull every dollar and cent out of my account that it will compound nicely come August-December and finish the year off strong. I would also like to build my stash account back up again as well from its current $2,500 or so up to $4,500. I’ve depleted it for a while and would like to pick up some good deals and get some dividends coming back through it as well.
One of the last investments I’ll mention is in myself, I plan to buy a real estate investing program from the YouTuber MeetKevin and learn from a realtor and real estate investor exactly what I want to do and how I want to get there. It’s a $300 program or so and I think the knowledge will be extremely valuable in the future when I plan to get into real estate investing.
As you can see most of my investments are passive income related and there is good reason for that. With the next 6 months solely focused on learning and training for work followed by an additional 12 months of inside sales which will need to take up most of my time to be successful. The plan is to establish these passive income sources and let Father Time do the work and I’ll just sit back and collect the interest, dividends, and the rent checks. It will also take massive amounts of action to reach my $2500 passive income goal by the end of 2019, however with a little bit of side hustle and a proper plan we might just get there!
Till next time, B^2