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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…

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…
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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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User Gourlaysama
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8.1k points

2 Answers

10 votes
Yes it would be because he’s gaining 250$ from renting out his original home
answered
User Naveen Dew
by
7.7k points
11 votes

Yes, this would be an example of passive income

answered
User Sugunan
by
8.1k points
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