Alternative way to generate passive income to help make your home more affordable
Philadelphia house for sale with a crypto mining computer, generating passive income for the homeowner who buys the house
Ric Edelman: You're listening to The Truth About Your Future. I want to tell you about a real estate property that's for sale. It's in the Belmont neighborhood of Philadelphia, listing price $239,900. You can find this listing on Compass.com, Zillow.com, Realtor.com, so on. Just search zip code 19104. Why am I bothering to tell you about this? Well, because it's got a really interesting property description. I'm going to read it to you. Welcome to this gorgeous new rehab. Three good sized bedrooms, a huge eat-in kitchen and a large front and back yard. The property has been updated with an electric high efficiency HVAC system, high efficiency windows, laminate floors and all new electric and plumbing. This property also includes the world's first crypto fixture, a crypto mining computer installed and ready to start earning passive income for the buyer. As part of the transaction, the seller is offering 30 days of free consulting to the buyer in order to familiarize them with the miner. So join me in welcoming to the program the owner of the property, Mark Masih.
Mark Masih: Thanks for having me, Ric. I appreciate it.
Ric Edelman: Is this your residence or is it a rental?
Mark Masih: We bought the property in order to fix it up and resell it.
Ric Edelman: And how long have you been doing crypto mining?
Mark Masih: So I got into crypto mining last year.
Ric Edelman: How much money have you earned from your mining activities.
Mark Masih: Altogether? About I want to say $6,000, $7,000.
Ric Edelman: So that's over a period of what time?
Mark Masih: I want to say going on seven, eight months now.
Ric Edelman: So you're earning about $1,000 a month from doing this?
Mark Masih: Roughly, yeah.
Ric Edelman: That's got to be covering your mortgage payment.
Mark Masih: Yeah, it definitely covers the mortgage payment.
Ric Edelman: And how much are you spending in electricity to operate that mining computer every month?
Mark Masih: It only costs about a $1.50 a month to run. So about as much as a light bulb.
Ric Edelman: And how much time does it take to pay attention to this mining activity?
Mark Masih: Once it's been installed you don't really have to do anything. It's automatically disbursing cryptocurrency to your wallet on a daily basis.
Ric Edelman: Pretty much you're making it sound like incredibly easy to do. Could any homebuyer get engaged with this?
Mark Masih: Yes. So it's available for anybody to put in. But there's been such high demand plus global supply chain issues, plus the chip shortage. So if you wanted to buy it retail, you would pay about $500.
Ric Edelman: In other words, to get the gear that you need to get started?
Mark Masih: Yes.
Ric Edelman: How much physical space does this mining computer take in your house?
Mark Masih: So we installed it in the master bedroom closet. It's about the size of a small router, not big at all.
Ric Edelman: And if you've got it in the closet, then I'm guessing it really doesn't need a lot of ventilation to keep it cool.
Mark Masih: No, it doesn't dissipate any heat either. So it's set up out of sight, out of mind, automatically earning income for you. So it's not supposed to be something that takes up space, takes a lot of time, stresses you out.
Ric Edelman: So this is clearly an interesting way to generate passive income. Airbnb has become popular for that reason. People buy a property and they figure they'll rent out a bedroom or the basement or some other way to generate rental income. This strikes me as an alternative way to generate passive income to help make your home more affordable. Well, that's fascinating conversation. I wish you the very best with your efforts. That's Mark Masih in Philadelphia selling his house, coming complete with a crypto mining computer, generating passive income for the homeowner who buys the house. Mark, thanks so much for joining us on the show.
Mark Masih: Thanks for having me, Ric. I appreciate it.