A passive income business is one wherein you create passive income. It takes putting systems in place! Once you have systems in place you get rewarded in the form of ongoing passive income while you sleep.
Earning passive income in your real estate investing business boils down to learning how to own and control your rental properties. This means owning and controlling your systems, for example, property management, maintenance and your teams.
Creating these systems and learning how to own and control them takes building new skills. You can learn these skills in a matter of weeks. Learning how to do real estate investing is the first step. It’s all theory till you get out there and DO what you learn. The sooner the better!
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Jay Massey here, with the CashFlowDiary.com and in this video we're going to talk about passive income business, in two minutes or less.
A Passive income business again is something that is simply providing the value without you being there at that exact moment when the value is being received.
How can you do that?
Well, it’s very easy actually.
It’s for all of us to learn how to have in control a system.
Yes, I've often heard system be: save yourself some time, energy, and money. Pretty much what tends to happen when you have a good system in place. What does that mean? well with rental real estate one of the greatest things that I hope about it that the built-in system especially when you start using in leveraging things like a property manager. The property manager uses your sales as well as a customer service.
They also can be a former that I maintained tech support and at the end of the day they going to sing you whatever money is leftover.
It's learning how to owning control and manage this system that important. It's the one being we need to know how to do but it's the one thing that would not talk unfortunately between kindergarten and fourth grade it definitely not in college.
It had an owning control and manages systems. When you can only control a manager system what happens is you get customer acquisition you can make sales you can service problems without you being present. At the end of the day isn’t it kind of goal?
You wanna sleep and wake up and know that the bank account bigger than when you went to sleep in that kinda cool. But you've got to learn how to put together a system around a product or service that only does one important thing, and that one important thing is simply — solve a problem.
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