The Art of Passive Income

In today’s episode of The Art of Passive Income, Mark and Scott talk with Tim Rhode of 1LifeFullyLived.org—a non-profit organization that helps empower people of all ages to Dream, Plan, and Live their best life possible. At age 25, Tim worked 16 hours a day as a grocery clerk and painting addresses on curbs to buy diapers for his two small children. Then, he found his niche in real estate, averaging 18 homes a month for the next 18 years. Skip ahead to age 40, he’s made millions through real estate and is financially free so now he asks himself, “what’s next?” Tim explains that he was able to create his own magnificent future so he decided to make it his mission to take as many with him as possible. Join us as we dig deep into what it takes to live life fully, starting with a roadmap to get to your core by asking yourself these questions: “who am I? What’s my dream? What’s my plan? Where I’m I going with all this and who do I want to share it with?” Tim on success—Tim prefers the word fulfillment, success with depth. He believes that success is too shallow and there are many components in the balance wheel other than career, money, and finances that you need to work on to have a fulfilled life. Success may not always be as it appears. Financially, you may be successful… you have the big house, a cushy bank account, high-end cars but it’s all very superficial. When “success” costs you in other areas of your life, you’re not living a fulfilled life. Tim's advice to teens and young adults—question everything and know your financial ABCs. A-what’s coming in from all income sources B-what it costs a month to live on C-what’s left to invest and how I’m I going to invest wisely Listen in as Tim shares a lot of great advice, inspiration, and motivation. Plus, find out what horizontal and vertical income is, and why you should be investing in horizontal income. TIP OF THE WEEK Mark: Learn more about how to live a fully fulfilled life at 1LifeFullyLived.org. Scott:  Check out the Chrome extension Go to Tab. It puts a little thing on the icon bar up on the side of your screen and all your open tabs just drop down in a nice orderly way that you can find them. And if you have so many open that you can’t decipher which one it is, you can type in the URL and it will take you to that one. Tim:  Please read the book, The E-Myth. You can also read, The Richest Man in Babylon. And lastly, play the game CASHFLOW by Robert Kiyosaki. It's about getting out of the rat race and becoming financially free. The object of the game is that your passive income is more than your expenses. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

In today’s episode of The Art of Passive Income—Round Table edition, Mark is joined by: Tate Litchfield Erik Peterson Aaron Williams Mimi Schmidt Mike Zaino Scott Todd There has been a lot of talk lately about an impending recession. We are in the longest real estate recovery in history, but is another one inevitable? Most likely, but the question is, when? It is a perpetual cycle that looms over us and sooner or later it will happen, you can't predict when but you can watch for the signs and prepare. Everyone shares: How they were affected by the last one in 2008 Precursors to watch for How to prepare so we are sitting pretty when it rears its ugly head Also, find out everyone's thoughts on the impact it will have on the land business. The last topic up for discussion is PROCRASTINATION. We all do it, it’s very natural. The reason we procrastinate is because we are avoiding some type of mental pain. But, how do you get over that mental block? Everyone shares how they tackle procrastination, a few ways mentioned are: Outsourcing the things you can Theming Have a daily game plan Listen in for all the details! When you're procrastinating from something you know you're probably going down the path that ultimately you should be going down. It’s a clue that, hey, here's some work that you should be doing. -Scott Noteworthy resources mentioned: YouTube video, How The Economic Machine Works and the book, Principles: Life and Work by Ray Dalio. The 5 Second Rule: Transform Your Life, Work, and Confidence with Everyday Courage by Mel Robbins. TIP OF THE WEEK Mark:  Check out, RocketBook—Notebooks of the future. You write on it like you would in a notebook but then you take a picture with the app and it uploads it into the Cloud, or email, Evernote, Dropbox, or Google Drive. It can even transcribe for you. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

In today’s episode of The Art of Passive Income, Mark and Scott talk with Jennifer Beadles—REIMillionaire.com. She’s done it all when it comes to real estate! Jennifer, who’s both a realtor and investor, learned the ropes through a land developer and her passion grew from there. She learned everything that goes into building homes, plus rehabs, rentals, financing, and budgeting! Through hard work and saving, Jennifer bought her first property at age 21 to turn into an investment property… great idea but at the wrong time during the onset of the crash in 2007. And while that one didn’t work out the way she planned, she continued her journey with real estate investing and now mainly focuses on value-add properties. Jennifer proves to be an overachiever as she has also created 22 different income streams in seven years—from hard money lending to cryptocurrency. Join us as Jennifer walks us through her incredible journey, including: Creating income streams Her favorite income stream Her best investment Opportunity today And, so much more! Plus, what misconception do people have about house flipping that is portrayed on TV? Listen in for all the details! TIP OF THE WEEK Mark: Watch the video, How the Economic Machine Works.  Learn more about Jennifer and her 1.2 million income streams at REIMillionaire.com. It’s a plethora of knowledge and information. Scott:  Check out DreamyPixel.com. If you enter your email address to their lead magnet, you’re going to get access to a boatload of beautiful, free landscape images that you can use in your deals of the week, your ads, maybe for your website. Jennifer: Watch “The Big Short” either for the first time or re-watch it. It’s a phenomenal reminder. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

In today’s episode of The Art of Passive Income—Round Table edition, after a month-long hiatus, Mark is back along with the antics! Joining him is a full panel of geeks, including: Aaron Williams Jeannie Morem Erik “The Technician” Peterson Mimi Schmidt Mike Zaino Tate Litchfield Scott Todd First up for discussion—Bootcamp Takeaways. Everyone shares their biggest takeaways and nuggets from Scottsdale, including a big nugget that Scott gave away in the VIP room which had almost immediate successful results! Also, Erik shares a story about his Mom which prompts Mark to deliver her a formal apology. And, the apologies didn't stop there, he also apologizes to Scott… and to Tate... and to Aaron... It was discussed to name this episode “the apology tour”.  The last topic up for discussion—The Sell Slump of August. The panel all offers advice on how to sail through August without hitting the dips. TIP OF THE WEEK Mike: Watch Ray Dalio's video on Youtube, Principles For Success. It's a, knock it out of the park! Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

Want to know the secret to happiness and fulfillment? It’s the ability to make good decisions that lead us to attain our goals. Our guest on The Art of Passive Income Podcast today is in the business of Decision Makeovers. Mike Whitaker—MikeWhitaker.com talks with Mark and Scott about making the right decisions that will help you become successful and happy. Success is not money. Success is our own personal definition that’s a balance of all the things we feel are important—the things that we want to feel, experience, enjoy, and challenge ourselves with. It’s a balance of regard and essentially a feeling of your accomplishment in life. Mike is a lifelong and successful entrepreneur and an expert on personal and professional decision-making, turnarounds, and strategic planning. He is a no-nonsense business coach as well as a speaker on topics that involve critical thinking about the future, offering unique perspectives and world-class solutions to help people achieve their goals by determining what their definition of success is, then breaking down the goals that will get them there. Mike goes over the process of identifying the decisions you need to be facing by identifying your five prime goals and then picking your number one most important goal from those five...that goal will make you advance. All the decisions you make need to support that goal until it is reached. Then pick another number one goal from the remaining and do it again, replenishing that list as often as needed. The folks that actually own and take control over their decisions really do have more power about how their lives turn out. A question he gets asked often is, “How do successful people make good decisions?” Mike explains that there are three things they do, and that is: Keep their goals in mind “Fail fast” or they “Fix fast” Listen in as Mike explains what his terms Fail Fast and Fix Fast mean, plus we talk about his book, The Decision Makeover: An Intentional Approach to Living the Life You Want—It's about getting you to understand the power of decisions, the size of decisions, the decision zones in your life and then how to avoid making bad decisions. Are you ready to learn how to achieve success and happiness? It’s your decision… TIP OF THE WEEK Mark: Learn more about Mike by going to his website at MikeWhitaker.com. Scott:  Check out the Chrome plugin called Gmail Screenshot. Take a screenshot, annotate it, and send it directly from Gmail Mike: You’ve got a decision that you’ve been dancing around that you’ve not wanted to address. The fact that you haven’t dealt with it, it's baggage. Once you take care of it, it’s going to feel really good. So, the decision makeover starts here with you identifying what your options are to fail fast or fix fast. Do that and then move forward confidently; know that you made the second best decision you could make. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

In this week’s Round Table podcast—The Best Of series, we go over the elements that make a successful land business. The basis for land investing is simple, you BUY land, you MARKET land, you SELL land. A simple model that when backed with hard work and grit lays a solid foundation to support the systems!  In this final installment of the Best Of series, we are putting all of the focus on buying, selling, and marketing—The fundamental elements of a successful business, including the county research and why it’s important to do this task yourself. “I don’t think County research ever ends. I think you always are researching and part of being a good investor is keeping an eye on what’s going on in the industry and in the market. If all of a sudden we start to see a shift or a huge demand in a new area, before I go and dump a bunch of money there I'm going to know what my research tells me.” -Tate Also, when should you outsource sales? Sales are a huge suck factor for a lot of people and are something they want to get that off their plate right away. But is it a good idea to outsource that first? Listen in as we go deep into the foundational steps to building a solid business! Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

In today’s episode of The Art of Passive Income, Scott is hosting the podcast solo and he talks with Mitch Stephen—1000Houses.com. Mitch buys houses with other people's money then sells them with owner financing, creating a positive cash flow stream without the headache of being a landlord. A lot like the land niche except with a house on the property, Mitch dives straight into a case study and why it makes sense to buy low and sell the house AS IS under owner finance terms as opposed to renting or fixing and flipping. Listen in as Mitch breaks down his formula of backing into the rent to find the owner finance sales price. Mitch says that the basic core belief of the owner finance system in his strategy is that a person would rather pay a $1000 to own than $1000 to rent, and he figures out how to make that happen. By making it affordable and offering owner finance he is giving an opportunity to those who normally wouldn’t be able to buy a home, let alone qualify for one with the traditional banking system. Mitch also delves into: Finding private money Types of properties he looks for Finding the deals The best states to buy in Competition Mitch's strategy is to buy houses with other people's money, so why does he say to “stop asking people for money!” Find out his no ask approach to raising private money and so much more! This podcast is packed full of so much value, it may have put a little twinkle in Scott’s eye. Mitch’s books: My Life & 1,000 Houses: Failing Forward to Financial Freedom My Life & 1,000 Houses: 200 + Ways to Find Bargain Properties My Life & 1,000 Houses: The Art of Owner Financing And, he also hosts the Real Estate Investor Summit Podcast with 25,000 downloads a month! TIP OF THE WEEK Scott: Learn more about Mitch at 1000Houses.com. Take his tip, which is to listen to episode 3 podcast and figure out how to raise money. Don’t let money stand in the way of achieving your goals and dreams. Figure out how to leverage it." Mitch: Watch episode #3 of the REInvestorSummit.com podcast. It will help you raise money that will make you money. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

For the month of July, we will be presenting The Best Of Round Table on The Art of Passive Income Podcast. Each week we will be featuring segments that we’ve received a lot of feedback on. Topics that have made an impact on you or your business. So sit back, relax and enjoy the best of the best! This week’s theme: BOOTCAMP With Scottsdale Bootcamp coming up on the first weekend in August, we wanted to dedicate this last Best of Round Table to the magic of Bootcamp. So, enjoy these segments we put together for you on Bootcamp Magic and the biggest takeaways. You may even get a chuckle over the antics or pick up a nugget or two! Listen in now... Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

In today’s episode of The Art of Passive Income, Mark and Scott talk with Matt Miller, SSVBusiness.com—a vending machine franchise, with a twist. Matt spent the first nine years of his career as an Air Force pilot before entering the corporate world to work at both Abbott Laboratories and Valassis. Despite being a top performer for both companies, his long-term desire was to start a business and be his own boss. Then, a conversation Matt had with a friend about gumball machine vending inspired him to invest in his own machines. Starting with candy and gumball machines, Matt soon became frustrated with the market downturn of ’07 and ’08 because there weren’t as many people frequenting his regular vending locations… then a knock came at his door. Local kids were selling merchandise for their school fundraiser and Matt thought there had to be a better way for these kids to raise money than knocking on the doors of strangers. That’s when School Spirit Vending was born — customized school stickers machines, placed in schools and part of the proceeds go back to the school’s fundraising campaigns. Matt has taken vending beyond the gumball machine and has brought School Spirit Vending to the cutting edge of both the vending and school fundraising industries by combining these two ventures into one, then took it to the next level by franchising it. With franchises across the country, they are raising millions for the schools they serve. “I had 75 schools myself before I walked away from my full-time advertising career. I was working about five days a month to make an income that was in excess by several times what my full-time career income was.” Join us as Matt walks us through his business model, both on the vending and franchise sides. He delves deep into: Profit margins Placement Maintenance Start-up costs And, are the challenges in this business? Matt explains that the hardest part is the learning curve in the first few months. Everybody that joins the team with no vending machine background has to learn the vending part along with how to work in the school’s environment. Plus, find out everything you need to know to get started in his franchise. Is Matt’s model a good source of passive income? Matt shows us some pretty impressive margins that suggest that it might be. Matt has a special offer for our listeners. His course—Vending Secrets To Passive Income can be accessed at VendingSecrets.net and with coupon code: bestpassiveincome is available for only $97! Listen in now to learn more about Matt and his company! TIP OF THE WEEK Mark: Learn more about Matt by going to his websites at SSVBusiness.com/BestPassiveIncome and VendingSecrets.net. Scott: Check out the Google Chrome extension Meetingbird at MeetingBird.com/Chrome. Matt:  Read the book, DotCom Secrets: The Underground Playbook for Growing Your Company by Russell Brunson. Also, check out my e-book, Live your Dreams: Top 10 Reasons Why You Need to Start a Vending Business. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

For the month of July, we will be presenting The Best Of Round Table on The Art of Passive Income Podcast. Each week we will be featuring segments that we’ve received a lot of feedback on. Topics that have made an impact on you or your business. So sit back, relax and enjoy the best of the best! This week’s theme: TIME. Listen in as we tackle the artificial deadlines we put on ourselves in this business. By comparing your progress with someone else’s, you’re just adding unnecessary pressure on yourself which affects your ability to focus and make progress. We feature segments that will help you manage expectations, avoid the time-suck of overthinking it, and why it’s crucial and time-saving to follow the proven systems. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?