I have been learning the advantages of both systems and having a diversified portfolio gives me some piece of mind- not all eggs in one basket! Blockchain has certainly opened up a new world of possibilities for passive income. I'd love to connect with anyone with Node ownership to learn about their experiences. I am currently involved with 4 different companies spread across the centralised and defi space with very good progress to date. Open to learn more from this community.

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.

We're so happy you found this community. Please take a few moments to introduce yourself by commenting on this post, sharing your favorite or ideal way to earn passive income and let us know a fun fact about you. Next steps after that: 1. Add [email protected] to your email address book, so you don't miss any of our messages/posts. 2. Head over to the Classroom tab and learn how to grow passive income the fast way.