What are some effective long-term passive income strategies?
An example of an AI chatbot conversation about long-term passive income strategies.
What are some effective long-term passive income strategies?
There are several strategies you can consider, such as real estate investing, dividend stocks, and peer-to-peer lending.
Can you explain how real estate investing works for passive income?
Sure! Real estate investing involves purchasing properties to rent out, generating monthly rental income while the property appreciates in value.
What are the risks associated with these strategies?
Risks include market fluctuations, property management issues, and potential tenant defaults. It's important to do thorough research.
How much initial investment do I need for real estate?
Typically, you'll need a down payment of 20% of the property's value, plus additional funds for closing costs and repairs.
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