Hey! Mike Wolf is here, and I’m coming to you today from Cosmo, Mexico, where it is a very hot day. And if you are tuning in, there are chances that you want to find out about passive income creation. Does it even exist and how do you create it? If that is what you’re looking for, you came to the right place.
I was just reading a blog article the other day, somebody said; “I don’t believe that passive income even exists.”
First of all, let’s define passive income. Passive income is doing something one time, and getting paid over, and over again. I want to give you some great examples of people that are making a lot from passive income, for those of you who don’t believe it even exist. Think of Elvis Presley and Michael Jackson, they are dead, and they are making more money passively while they’re dead than the average person, by far, will ever make in their lifetime alive. And that’s because they got to do something once, they created their songs, released them, marketed them, and now they’re getting paid for it, even when they’re no more alive. Say they were books, people who have written books and are dead are still making money.
So, yes, passive income is really a thing. My vehicle for creating passive income is real estate. You buy the real estate one time, and if you buy it smart, it creates a passive income stream for every single month, and at the same time, it is appreciating and giving you tax benefits. So, I really want to encourage people to start looking at passive income in their investing and businesses. In my business, I have teams that do most of the work for me, and they’ve got systems in place so that it would run without me. Think of McDonald’s! If you haven’t seen the movie; ‘The Founder’, check it out. It talks about the original people who started up McDonald’s and how Michael Keaton’s character, comes in and makes it a lot bigger by licensing it and franchising it. But it didn’t mean that he did the work, he was not cooking, flipping burgers at each location, so it allows him to expand.
So, anyway, these are things that you want to consider when you are building your businesses and making your money work for you. And to me, like I’ve said, real estate is my personal favorite way to do it. If it’s your favorite way to do it also, make sure you check out my webinar! Click below and get access to it. Let’s talk about the ways I can help you create that passive income in real estate without you having to do all of the work.
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