What Passive Income Streams Does Mike Hold?

Mike lists his income sources: Airbnbs, vending routes, outsourced Bitcoin mining, and real estate development.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

MY NEWSLETTER - https://nikolas-newsletter-241a64.beehiiv.com/subscribe

Join me, Nik (https://x.com/CoFoundersNik), as I interview Mike Hoffman (https://x.com/mrpassive). Ever wonder if you can actually create enough passive income to quit your job? In this episode, I talk with Mike, who went from being a college coach to living off the cash flow from his assets in just a few years.

He shares how an observation at an airport led him down the rabbit hole of unattended retail and the vending machine business. We get into the nitty-gritty of what "passive" really means. Mike explains how he started by servicing his first machine himself (literally buying snacks at Costco with his daughter in the shopping cart) and built the systems that allowed him to scale to over 60 machines.

He also reveals how the vending industry is being disrupted by new technology like micro markets and AI, creating huge opportunities for new entrepreneurs.

Questions This Episode Answers:

• How can a vending machine business generate enough income to replace a full-time job?

• What does it really take to make a "passive" income stream truly passive?

• How can you start a vending machine business with no money down?

• Where are the best, most profitable locations to place a vending machine?

• How is new technology like AI and micro markets changing the vending industry?

Enjoy the conversation!

__________________________

Love it or hate it, I'd love your feedback.

Please fill out this brief survey with your opinion or email me at nik@cofounders.com with your thoughts.

__________________________

MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribe