Episode 13: How I make 8k per month in passive income

Feb 16

Written By Whitney Morrison

“The first thing every single person needs to do on their passive income journey is to build their money map.”

On today's podcast, I’m sharing my journey to creating $8,000 in passive income every month.

Key highlights

[00:00:59] Our long weekend in Houston

[00:01:23] Building a yurt as an investment and other surprises within the house

[00:05:57] Introduction to today’s topic

[00:07:06] My vision for 2023

[00:07:20] Our property & a break-down of our property

[00:09:39] From being in over $40,000 of debt to almost $8,000 in passive income

[00:10:45] Reasons for having a money map

[00:15:27] How we began buying rentals and how they are maintained

Notable Quotes

Your money and your life will always be filled with trade-offs. How you use your money, time, and energy is always a trade-off: Do I want to do this, or do I want to do that? So when it comes to using your money, the thing you really want to be clear on is: what do I value most? What is most important to me?
Craig and I want an entrepreneurial lifestyle in that we are the CEO. We want to build our income; we want to build our lives according to our rules, time schedules, desires, and wants. And so to do that, we have to prioritize that as a value versus prioritizing the other things that we are taught, we should prioritize financially.
There are so many different ways to get creative with real estate and rent out an asset you own to other people. There are so many different options, but you must be willing to look for them and get creative and find them.
So you can see, with every single property, with every opportunity to make money, I have experienced a lot of resistance, a lot of mindset resistance, and many reasons why I didn't think it would work out. I had a lot of reasons why I thought it would suck to do the things that we've done to get to where we are, but I also wanted to show you how I worked through that, and that will be the process for you too.
As you start to think about all of these different passive income and multiple income opportunities, you will have resistance simply because it's going to require that you do new things that you've never done before. Your brain may have thoughts about what it will be like for you, but be very careful about the thoughts that your brain offers because often, what you don't see is the amazing freedom that can come from these things.