Second Home
People don’t often consider buying second homes, especially not for themselves- unless they have the assets and can easily buy a vacation home somewhere far away.
But why should the average person consider buying a second home? For the passive income, you could earn from renting it out, of course. Your net worth will go up and you’ll make some money on the side by using platforms such as Airbnb, VRBO, and HomeAway. Plus, you can use the rent payments to help you pay off the mortgage a lot quicker.
Once you’re done with the mortgage, you’ll still benefit from that second stream of income, especially if you have a full-time job too. Even better: once you retire you can still rent the property out in order to earn some extra cash.
