The best way to build passive income from scratch depends on several factors. Our credit score, skills, savings (if any), as well as prior experience all play a role. Why is the credit score important? It is only important in the US or in a country with a similar financial system. Without an average or better credit score it becomes a lot harder to get a real estate or business loan. Don't have a good credit score? No problem, there are still many ways to build passive income (I'll share one below). Passive income is not a get rich quick scheme. We need a solid strategy as well as good execution paired with patience to see results. When I bought my first real estate property, I did not have a good enough credit history nor a stable enough income to get a decent loan from a bank. My parents agreed to co-sign with me, since I had a proven track record with them on being true to my word. This might seem like a handout to some, but they did not help at all with paying my loan or other expenses. I was old enough to manage these responsibilities on my own. I do not recommend co-signing, even if family members are involved. This option should be reserved for very special and low risk circumstances. But I want to share it here as example. Sometimes we have to find an unusual path to acquire the first asset that can generate passive income for us. I did not buy my first property for the purpose of creating income. It was just a practical option I had seen work well for my parents. If I was trying to earn passive income from real estate today, I would look for an affordable property (maybe a condo) which is just good enough for me to live there. I would find a way to buy it for a good deal and rent all rooms except for mine out to roommates. There are two strategic reasons for doing it this way: 1. Banks are more likely to give you a good loan on a property you plan to occupy yourself. 2. Roommates help with freeing up cash flow, so I don't need to use all of my active income for paying bills.

Yes, I believe financial freedom is very achievable for everyone, here's how: If we want to achieve financial freedom, we have to behave like people who value and prioritize it. That means learning how to create or acquire assets which increase our cash flow. It does not matter as much if we start with $1 or one million, mindset always comes first. Even a million can be wasted easily with a bad mindset. "But what if my net worth is negative?" - then you have the underdog advantage. Nobody will see you coming - shift your perspective!

This may sound crazy but I actually believe it can - if done in a healthy and strategic way. Here's how I would invest my way out of debt knowing what I do today: 1. Prioritize learning experiential stock market skills. 2. Wait for a market correction or crash. 3. Utilize LEAPs which are Long-Term Equity Appreciation Positions. This requires being patient before taking profits gradually. 4. Find one or more high paying side hustles. 5. Pay off debt with more than 10% interest and invest gradually. 6. Live frugal for a while. 7. Take strategic steps to improve my credit score. 8. Use low-interest debt as leverage carefully. Some of these would require further details to fully express what I mean. If this topic sounds interesting enough to you, please let me know in the comments or ask a question about specifics which interest you. If there is enough interest I will cover it in an upcoming course.