Lets talk about how to make passive income, and debunk some common misconceptions out there…more information in the description. Enjoy! Add me on Snapchat/Instagram: GPStephan
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Get $50 OFF + FREE Coaching Cal FOR A LIMITED TIMEl: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c
The first myth is that you need money to make passive income.
When it comes to making passive income, there are two strategies behind it:
The first option is to BUY your passive income
The second option is to spend your TIME creating passive income
If you want to buy your passive income, consider that every $100 you invest buys you anywhere from $3-$7 of passive income annually. But what most people HERE are interested in is spending their TIME, not MONEY, creating passive income. This could be creating and selling a digital product, drop shipping, amazon FBA, affiliate marketing, making YouTube videos, renting out parts of your house that you don’t use, the list goes on. If you don’t have money to invest, THIS is the best way to start. But keep in mind, when making passive income, you are paid in DIRECT relation to the value you provide - you cannot just get something for nothing.
The second myth is that passive income lasts forever: you set it up once, and you’re good for life.
I’d like to say that in 95% of situations, this is not the case - it will not last forever, at least not without a fairly sizable amount of risk that it disappears. From the way I see it, most passive income streams will be set up to run for a few months to maybe a decade - and then they need to be re adjusted and modified, or maybe they simply become obsolete and they don’t work anymore.
The third myth is that passive income is doing nothing.
And this is true. Kidding. People often see how much I make from real estate and YouTube and expect it’s all easy money where I just sit around all day…and sometimes yeah, I sit around all day, but it does require SOME work. For my rental properties, this is usually about 1-2 hours of work per month…this is making sure all bills are paid, rent checks are tracked, and expenses are calculated. So whatever income stream you take on, chances are it will require SOME level of work…even though it might not be much, in 99% of situations, it will be something. Some more than others, but regardless, by leveraging your time, you’ll likely make WAY more per hour of your time than you could in any other business.
The fourth myth is that you need to be an expert on something to make passive income.
This is absolutely not the case. For instance, when I started buying real estate…I was NOT an expert. I made many mistakes and learned as I went along, figuring out each step as I needed it. When making YouTube videos, I had no idea what I was doing…I watched other YouTube videos each time I was confused, figured it out, and then moved on. My point being, if you have a goal in mind, it’s not important if you’re not an expert if you have the self motivation to figure it out as you go along.
The fifth, and final myth is that passive income is easy.
And to be honest, it can be easy…once it’s already set up. But setting it up is hard and time consuming, otherwise everyone would be doing it. Earning passive income, in most cases, is really just like delayed compensation…you put in a lot of time and effort now with no pay, under the expectation that you’ll get paid all of it back plus interest in the future. Most people will not have the discipline to do this, most people want the immediate results and get frustrated when its been a week and they haven’t earned any money yet. Then they complain, they quit, and then try something else with similar results. And the same thing happens. But if you have the persistence to make it work, I have no doubt you’ll make it work…just do me a favor and have quality. There is always a market for quality, no matter what it is. Quality gets people coming back, quality makes you stand out, and quality gets happy repeat customers.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Get $50 OFF + FREE Coaching Cal FOR A LIMITED TIMEl: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c
The first myth is that you need money to make passive income.
When it comes to making passive income, there are two strategies behind it:
The first option is to BUY your passive income
The second option is to spend your TIME creating passive income
If you want to buy your passive income, consider that every $100 you invest buys you anywhere from $3-$7 of passive income annually. But what most people HERE are interested in is spending their TIME, not MONEY, creating passive income. This could be creating and selling a digital product, drop shipping, amazon FBA, affiliate marketing, making YouTube videos, renting out parts of your house that you don’t use, the list goes on. If you don’t have money to invest, THIS is the best way to start. But keep in mind, when making passive income, you are paid in DIRECT relation to the value you provide - you cannot just get something for nothing.
The second myth is that passive income lasts forever: you set it up once, and you’re good for life.
I’d like to say that in 95% of situations, this is not the case - it will not last forever, at least not without a fairly sizable amount of risk that it disappears. From the way I see it, most passive income streams will be set up to run for a few months to maybe a decade - and then they need to be re adjusted and modified, or maybe they simply become obsolete and they don’t work anymore.
The third myth is that passive income is doing nothing.
And this is true. Kidding. People often see how much I make from real estate and YouTube and expect it’s all easy money where I just sit around all day…and sometimes yeah, I sit around all day, but it does require SOME work. For my rental properties, this is usually about 1-2 hours of work per month…this is making sure all bills are paid, rent checks are tracked, and expenses are calculated. So whatever income stream you take on, chances are it will require SOME level of work…even though it might not be much, in 99% of situations, it will be something. Some more than others, but regardless, by leveraging your time, you’ll likely make WAY more per hour of your time than you could in any other business.
The fourth myth is that you need to be an expert on something to make passive income.
This is absolutely not the case. For instance, when I started buying real estate…I was NOT an expert. I made many mistakes and learned as I went along, figuring out each step as I needed it. When making YouTube videos, I had no idea what I was doing…I watched other YouTube videos each time I was confused, figured it out, and then moved on. My point being, if you have a goal in mind, it’s not important if you’re not an expert if you have the self motivation to figure it out as you go along.
The fifth, and final myth is that passive income is easy.
And to be honest, it can be easy…once it’s already set up. But setting it up is hard and time consuming, otherwise everyone would be doing it. Earning passive income, in most cases, is really just like delayed compensation…you put in a lot of time and effort now with no pay, under the expectation that you’ll get paid all of it back plus interest in the future. Most people will not have the discipline to do this, most people want the immediate results and get frustrated when its been a week and they haven’t earned any money yet. Then they complain, they quit, and then try something else with similar results. And the same thing happens. But if you have the persistence to make it work, I have no doubt you’ll make it work…just do me a favor and have quality. There is always a market for quality, no matter what it is. Quality gets people coming back, quality makes you stand out, and quality gets happy repeat customers.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Wow Tnx
Whatever you want
Take that Youtube algorithm!
Does graham look at old videos? Nice video!
Lending Bitcoin through Blockfi. Making a nice passive income off the interest.
1. Like and Subscribe
2. Become inspired
If you can pick something you either love or even can learn to get absorbed in, you'll sustain your effort because of the intrinsic benefit, not just the big prize down the road.
I really appreciate your extended videos bro extremely helpful.
DEFINITELY NEEDED THIS VIDEO, BOY WAS I GETTING FUSTRATED
1.6 mil for 50k . not too bad
so nice working with EXPENDABLEMONEYSOLUTIONDOTCOM i just got credited again
Passive income probably takes constant management check ups.
When you say you can make 50k a year after investing a certain threshold into the market. Are you including the taxes they take out?
There is even worse :
Expectation : 10K per month
Reality : -1K per month (you are in debt for years)
Us video creators know how long it takes to make a video lol he keeps repeating what an astronomically long time it takes to make a vid. Yes, it’s pretty mind boggling and I can see how viewers can take it for granted and not realize this:)
You're great bro, I feel like you're one of the most valuable financial youtubers out there
Okay I have to know, is there a glass top on that table? Every video i wince thinking about how much those rivets or screws must hurt your elbows.
I did when you mentioned it but it's a lot complex.
Graham: I make 10k per month from YouTube ad revenue.
Me: ahh so this is an old video
Hi Graham! Would you mind sharing what camera should be used for an amateur vlogger/you tuber? Thanks so much
Trading time for money is not passive income. That's called work. You are working now for a promised payout later. That is like calling the paycheck from my job passive income. I didn't physically work that day for it, therefore it was passive right? The only true passive income is had by using loop holes that the banks use. You must first have assets of value, then you get leveraged loans against those assets, you then use the money from the loans to invest in assets that pay more in returns than the cost of the loans. That is true passive income. There is no passive income without assets. That is a fairy tale.
Appreciate your research and hard work. Thanks for sharing your time.
I always appreciate your realistic perspective and authenticity on YouTube. It keeps me listening and SMASHING that like button! (actually the reminders to smash the like button are what keep me smashing the like button)
Grahm, you're awesome. You really encouraged me to start renovating my first real estate unit. Awesome job mate.
hey googoo
Quality