Passive Income: Is It Possible?

I've been away for the past week now, spending time in Florida with an old friend of mine - and I've got a few more weeks left in my month long American holiday. It's been absolutely amazing so far. I've had some time to reflect on how grateful I am for all the opportunities in my life, not just the business opportunities but the opportunities available to me travel and spend time living the life of freedom that I had dreamed about when I was stuck at my corporate job. It's amazing to think how different my life only 2 years ago! And even last year I was busy in the thick of my Rent to Rent business and working IN my business every day. Over the last 12 months I have really focused on building the PASSIVE income dream. I've learned a lot on the way and still have a lot to learn as I move forward and get things even more streamlined, but I am really grateful that I have pretty much everything I dreamed about.

So I recorded a couple videos over the past week while I've been here in Florida. The first one reflecting on how grateful and lucky I am to be able to spend time away from the UK with my business still ticking along "passively" in the background. Earning me money while I sleep and travel and all those amazing things you hear about in adverts! And I realized, wow - it's happening to me! You can check out that video here:

Then since I created that video I've done a bit more thinking about Passive Income and what it really means. I consider my income from my Rent to Rent business to be fairly passive. I don't have to go to the properties every day, I don't have to talk to my tenants every day - I don't deal with most of the day to day running of the properties. BUT - technically speaking my income isn't completely passive. I have a team that helps me and does an amazing job and systems that allow me to step away and travel. This may all sound like passive income, but I still check in with my team on a regular basis, I still check my emails regularly to make sure everything is running smoothly and no one has any questions (some of my older tenants still email me first instead of my property manager) and I still need to check on the financial reporting and our KPI reports to make sure I'm happy with the progress and that we are on track for our targets. So that means my business isn't completely passive and that has made me realize that no business can ever be truly passive. There will always be some amount of oversight and management and I think that anyone that tells you differently might be stretching things a bit too far. The stuff I am doing now is more of the working ON my business rather than IN it - so I'm not in the trenches everyday and running around. And this is what I dreamed of in my dream life. I might have dreamed it would all run a lot more smoothly sometimes and that I wouldn't need to check in as regularly but overall - it's perfect right where it's at. I can work from anywhere as long as I have internet connection and I'm improving my systems every day so that I can pull myself more and more out of the day to day runnings of the business and focus on improvements and making things better. And I also spend quite a bit of time working on the training and coaching side of the business - as that's what I really enjoy doing. I've spent a lot of time working on this website and I'm putting together a lot of great content that I'll be sharing over the next few weeks. To me a lot of this doesn't feel like work as it is what I really enjoy doing...but it means the income isn't passive. And for me that's ok! I don't have to do the training and coaching, I have plenty of income from my Rent to Rent business, but I love doing it. And since the jet lag is still with me, what else would I do when I wake up at 4am :)

So here is the second video I made to clear up a little bit more about passive income:

Thank you so much for joining me today and checking out my blog. I really appreciate it! As a thank you I want to share one of my tools with you to help you get your property business systemised. Some of you may have seen this before as I love talking about it - in fact I'm sure I'll write a blog post about it soon. But until then - check out my guide on Systemising your Rent Collection

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