Focus & Multiple Streams Of Income: Everything Real Estate

Fresh off of this morning’s six mile run, I’m more pumped and hungry to grow and do even more in real estate. I also feel it is just as important to share why I exited multiple successful businesses to focus solely on real estate.

Prior to 2008 I read the book Multiple Streams of Income by bestselling author Robert G. Allen. I thought I understood it. Looking back I realize it wasn’t until much later that I really did.

After reading it I began to use my success in real estate to fund other types of companies that would produce income. That included a van company to shuttle disabled children, a car wash business and a 25 chair hair salon. The salon business performed particularly well. We did everything we could to make our technicians succeed. We ran PR for them, supported them, and as a result were able to do a lot for charity.

Across these business I had at least 54 employees. That’s in addition to the work I was doing flipping houses in real estate. While many of them were turning a good profit and bringing in cash, it was definitely a drain. There was a stark difference in the mindset of the people I dealt with and the amount of energy they consumed compared to working with professionals in the real estate space.

I eventually gave them up.

2008 hit and everyone was hurting big time. There were a few weeks I didn’t even want to get out of bed. Still, I committed to learning and preparing. I reread Robert’s book, and things became much clearer.

Multiple streams are necessary for future proofing your finances and maximizing the upside. Yet, what I had missed out on was the advantages of generating multiple streams of income within one area of focus.

So, I set about doing short sales, launching a highly successful mortgage note business and several funds, and then returning to include renovating rental properties to buy and hold and fixing and flipping distressed properties.

I now enjoy multiple sources of income, yet all within my area of expertise and focus. It’s a principle Warren Buffett is big on too.

I often see and hear people who have gone to conferences and are taught there is just one way that is best to make money in real estate and they should just focus on that. For some it is wholesaling. For others it is rental properties or flipping or notes. I believe all learning is great. The more knowledge and tools you put in your chest, the more flexibility and exit choices you have to make money on any single opportunity.

So, don’t box yourself in. Please, don’t try to box me in. There is so much to do and multiple ways to make money in real estate that all work.

Find out more about this journey in my upcoming third book on becoming an intelligent, hybrid investor, and discover how I rolled all of these strategies into one powerful hybrid fund.

Investment Opportunities

Find out more about investing in secured debt and real estate, go to NNG Capital Fund

Image by Robert Balog from Pixabay