In December, I made $1,116 in income from investments.
That was comprised of 2 main components:
- $1,008.79 from interest from savings accounts
- $107.51 in dividends from QYLD
If you’re wondering what QYLD is or why I invested in it, check out the November update where I went into detail on this.
In an effort to increase this income I am planning to invest in real estate. I had 2 properties under contract in the past 2 months but unfortunately, both of the deals fell apart.
Just like with any other business, I believe real estate is a numbers game and so I’m constantly looking for deals and building relationships in the industry. It’s a new field for me so I’m having to build a new network, but I’m really enjoying it. I’m pretty confident this will be just like any other business where it’s a bit slow to start but then momentum really picks up over time.
Patience and persistence over long periods of time have always served me well in business, and I plan to take that same approach with real estate investments.
I’m also exploring other alternative investments like private lending that could provide cashflow. I have done this in the past on a small scale before and it’s worked out well.
My goal for 2020 is to increase income from investments to $5,000 per month.
I have quite a way to go but I believe it’s doable.