Passive Income ideas: Buy and Rent Out an 18-Wheeler

I love passive income, and whenever I see an idea that stands out, I like to do my due diligence. I recently came by the idea of buying and renting an 18 wheeler truck. The idea has merit, but we have to run it through our entrepreneurship mentality.

Here are some of the articles we used to figure out how much viability the idea of renting out trucks has towards our lifestyle.

1) Buying and renting trucks can be a very reliable source of passive income. Also, we can rent the trailers for every more passive income.

2) Before we start our 18 wheeler business, we will want to ensure we have all the basics of entrepreneurship.

3) We did a lot of research to learn how to obtain land for cheap. We need to use these tactics to buy land to park our trucks.

4) We can use the ideas in creative financing in real estate to procure our trucks. We will also want to buy properties with land.

5) Personal loans may be a great way to finance your truck if you can get a reasonable interest rate.

6) Home equity is an excellent way to finance our truck if we have enough of equity left.

7) Private money is also a viable path to obtaining a truck, but you will need to build a very clear business proposal to present to your investors.

8) Before we ask for private money from friends and family; we will need to understand how private money financing works.

9) We can build business credit well before we start your truck business. If we can gain trust from the bank, we will have more money than we can spend. But this takes time and deliberate actions.

10) When we start our truck business, we will want to ensure we automate and outsource as much to management as we can. We don’t want to create a job for ourselves.