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nlock stock picks and a broker-level newsfeed that powers Wall Street. Upgrade Now How This 59-Year-Old Investor Built A Lucrative Real Estate Empire Generating $105K/Per Month In Passive Income Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Building a passive income stream is a challenging yet rewarding process, with real estate remaining one of the most reliable paths to success. Steve Barsh, a 59-year-old entrepreneur, has mastered this formula by transforming profits from various business deals into a lucrative real estate side hustle earning him $105,000 per month.

    A CNBC profile revealed Barsh's journey from CEO of his software startup to part-time property manager earning over $1 million per year. His success wasn't overnight; it took 26 years to build. It began when he sold his software startup and used the proceeds to purchase a condominium in Park City, Utah for $820,000. The property was initially rented out through a local management company but Barsh soon took control of the process himself.

    Recognizing the income potential of managing vacation rentals in Park City, Barsh started his own management company, Parker Chase Properties. He purchased several more properties in the area and now owns four out of five Park City condos managed by his company. With a total investment of $10 million, Barsh created a luxury experience for his guests, catering to the refined tastes of Park City's sophisticated crowd.