Karl purchased a second, larger home in which to live. He has decided to rent his first home out for $1,500 a month. His mortgage on the first home is $1,250. Is this an example of passive income?.

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asked Feb 9, 2023 71.4k views

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Karl purchased a second, larger home in which to live. He has decided to rent his first home out for $1,500 a month. His mortgage on the first home is $1,250. Is this an example of passive income?.

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Gourlaysama asked

by Gourlaysama

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Yes it would be because he’s gaining 250$ from renting out his original home

Naveen Dew answered Feb 10, 2023

by Naveen Dew

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Yes, this would be an example of passive income

Sugunan answered Feb 15, 2023

by Sugunan

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