We met Alexander of Cash Flow Diaries at FinCon15 in Charlotte NC last year. Cash Flow Diaries follows Alexander’s journey to build enough passive income to retire. Alexander’s focus is on buying rental properties. So far, he’s making about $2,000 per month in passive income, which is not too shabby!
We love Alexander’s drive and passion, so we had to share him with you. Please visit his website as Cash Flow Diaries regularly.
We’ll interview Alexander on Blab on Saturday, May 21, 2016. Click here to subscribe and join the conversation.
1) What’s Cash Flow Diaries’ story?
I am on a hot pursuit to be financially free and the growth I have made in the last few years has been awesome. I literally bought 4 rental properties in a 10-month span and that has propelled my passive income to over $2k per month which I am extremely proud of. My main source of passive income will come from investing in real estate and my goal one day is to live off of my rental income. I do have plans on finding other streams of income as well but mainly doing the things I love, like blogging for instance. I have compiled a list of bloggers who report their blog incomes and the amount these people are making is tremendous. It really inspires me to be able to make money online. You see my end game here is to be able to do whatever I want, whenever I want and to do so with the passive income streams I am able to achieve.
I have never been more passionate about reaching any other goal and If I continue my aggressive growth strategy, then I believe I can be financially free in about 7 years which will put me in my early 40s. Of course I may get lucky and speed up that timeline if my additional streams of income pay off. In order to increase my rental acquisitions, I will be doing side hustles for extra income. My latest one being a new business endeavor on Amazon which consists of buying bulk products from China and then selling them via Amazon Prime. I call it my Amazon FBA Project. It’s really exciting and if it ends up going well for me, I will be able to buy more rental properties.
2) What’s Cash Flow Diaries’ point of view, as a personal finance blogger?
I honestly believe that passive income is the secret to happiness. I know that is a bold thing to say but at the end of the day, it’s about having more time to spend with loved ones and doing what makes you happy in life. Passive income can do just that. Since I started Cash Flow Diaries, my premise and point of view has always been about increasing my cash flow so I can obtain this freedom. There are multiple methods of obtaining passive income and even though I concentrate mainly on real estate, I still put effort into finding other ways to increase my cash flow. It is important that once you set yourself on this path to early retirement, that you are driven to succeed and motivated to grow. The beautiful thing about personal finance is that it is in fact personal and there is no one way to succeed. Whether you choose to be frugal, invest in stocks, real estate or anything really, it is your own way and your own path to success.
3) In one sentence, what’s one piece of sage advice from Cash Flow Diaries’ personal finance background that they’d like to share with our readers?
If you are motivated enough, you can achieve anything you want.
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