Flex space: the ultimate passive income for 2023

To build true wealth, you need to be able to make money while you’re asleep. Income that is self-perpetuating will enrich your net worth far quicker than working day in and day out, every time.

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Unlike most things, you can’t just Amazon passive income — you have to build it. Before we get into the details of creating passive income, let’s compare active income and passive income.

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Active income

Active income is the income you receive in relation to the tasks you do. If you have a salary, that’s likely your active income. Other examples are any commission you generate, the tips you receive, and any other compensation for work you do related to your job or career.

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Passive income

Passive income is the income you’ve earned with minimal to no effort. Passive income is not connected to your time, giving you the ability to grow your wealth while still working on other ventures. This is what makes passive income so attractive — it can free up your time and give you financial security.

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So how do you get there? Real estate is one of the best ways to create passive income, so let’s get into it.

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Real estate’s passive income

As a means of generating passive income, real estate is oftentimes the first thought for many looking to expand their revenue streams — myself included. At the peak of my involvement in multifamily, my company had 1400 doors across Texas. This strategy worked well; however, the reality of multifamily today has changed dramatically.

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The resources from that well have all but dried up. The reason is, expenses have gone up significantly — insurance premiums, for example, have doubled and even tripled in cost in Texas. Interest rates have gone up, and banks are no longer lending the way they used to.

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People are still entering into these asset classes, sure, but with the expectation that their investment will appreciate over the next five years. It’s safe to say that there’s a degree of manipulation involved in this process to ensure investors will think there’s profit to be made in these deals.

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This isn’t the case with flex space real estate. If you want true passive income today, the answer is to build a flex space development from the ground-up. You have an extremely valuable asset the moment the land is yours, but when development is completed, it has already appreciated.

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You’ve created that appreciation yourself.

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In addition, rent in the industrial space is at an all-time high, demand for these spaces is at an all-time high, and insurance premiums are not as high as they are in multifamily — nor are the taxes. With that in mind, you’re settling yourself into a much more advantageous position by relying on cashflow generated by flex space rather than multifamily. It’s only going to get better for those invested in the former, and worse for those in the latter.

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We’re seeing the largest tech companies (Microsoft, Google, Twitter, and countless others) let tens of thousands of employees go with no signs of slowing down. This wave will impact all forms of cashflow in the residential space. As more and more people lose their only source of income, rents will continue to go unpaid. Delinquencies are going to shoot through the roof over the next six months.

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This, unfortunately, is the world we live in now. However, the numbers don’t lie. If your goal in 2023 is to generate the most passive income possible, start looking into how flex space can change your life today. This truly is the best time to get into flex space and create the wealth multifamily used to offer.

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I’d love to help you do it.

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I’m sharing everything I’ve learned in the past eight years creating flex space developments. If you’re serious about creating a revenue stream today’s economic climate can’t touch, check out Flex Space Untapped. I’ll see you there.

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