First step, move away from South Carolina.
You can get muni bonds that yield over 6%, so you could generate $350k of completely passive income with less than $6M. A lot of people are saying it’d take more cash than that, and it wouldn’t be completely passive. Why on earth do more work and take more risk to earn less?
Why do you need 350k passive income in South Carolina? Sam in SF is doing alright in SF with 200.
Don’t salivate after passive income. You are actually giving up capital appreciation for income stream. In stocks, heavy dividends usually lead to low appreciation rate. Likewise, cash flow will lead to slow growth in real estate. Need to have a balance here. A needle is never sharp at both ends… 
“Bond”. Enough said… 
Are they talking just cash flow? What about appreciation?
For me it’s a balance … cash flow and appreciation are about equal…One pays the bills the other helps plan for inflation
Show us some 6% munis…haven’t been around for years.
Nothing wrong with a 350k passive income. If it’s from rental property, it should grow with inflation even in South Carolina. I did not hear much negatives about SC, he most likely lives in a safe and nice neighborhood since he has high income and good asset. With a 350k annual income in SC, he probably is living a much better life than most of us
The guy is just daydreaming. Some sort of “personal networking” BS’er. How many doors do you need if you only collect 200 per door? I am surprised people over at BP even took this guy seriously.
MCA was yielding 6% when I owned it. It seems odd the yield dropped to 4.85%, since interest rates have increased mutilple times. That’s actually why I sold it. I figured the principle value would decrease once the rate hikes started. It looks like CA has had it’s debt rating upgraded 2-3 times since then depending on who’s rating you use. 4.85% tax free is still pretty good.
The trouble with high yielding munis is they will issue new bonds and pay off the high yielding ones…I don’t consider munis as a reliable source of steady income…