Mindset Guide - The Passive Income Mindset

I sort of fell into passive income. Fifteen years ago, in my early twenties, I started renting out a room in my house to help cover the mortgage. Soon after, I was renting out a second bedroom, earning enough in rental income to cover the mortgage outright, effectively living mortgage-free. Then, I converted the garage to make a third rental bedroom, and the £500-a-month profit I earned from that room was my first taste of passive income generating a regular income through minimal effort. The fact that I was a young guy having a great time with my three housemates (who are still great friends to this day) was an added bonus! My interest in building passive income grew from there. At the time, I had a good, grownup job in the City, like I thought I should. But I was desperate to escape the rat race and run my own business. That little bit of passive income showed me the way to a better future, one where I didn’t have to work all hours to earn an income. A future where I could focus my efforts on doing the things I loved, both in a business and personal sense, while still building wealth. A life that was more fulfilling in every way. So I quit my (£120k+) salaried job in an investment bank to focus on creating more passive income, at first living frugally on that small monthly rental income which was hard initially but the extra time and lack of stress more than made up for it. For me, property seemed a practical, tangible way of achieving my goals, so that was the route I focused on. Within 10 years, I’d built a portfolio worth more than £20 million and was running a group of successful property companies. Now, I’m more convinced than ever that passive income is the key to building real wealth, and I continue to develop and invest in new passive income streams with each passing year. Think of this course as your quick and simple introduction to building passive income, including what passive income is, the main passive income options, and practical tips.