Round Table | This is How to Make Passive Income in 2024

You’ve got a steady paycheck from your 9-to-5 job, or you're already earning some money from your side gig, but deep down, you want more money, freedom, flexibility, and choices. It’s time to build passive income. All income sources are essential, but for financial freedom, passive income is the key to achieving your goal. But how do you start making passive income?

Four things you need to make passive income

How to use the resources you have to make passive income

Why the things you need to make passive income can also hinder you if you do not know how to use them properly

Investing in Mortgage Notes: Step by Step to Passive Income with Robert Hytha

Mortgage note investing is one of the most profitable real estate investment strategies available. When you understand how it works, it can be an incredible vehicle for building passive income, yet it is less popular with investors. In this episode, Russ, Joey, and their guest, Robert Hytha of FIXnotes, will explore the world of mortgage notes and how to invest in them. The rates of return in mortgage notes investment are higher than the banks' traditional low-yield bonds and higher than most stock dividends.

Why investing in mortgage notes is a good investment

How to find good deals

How to make money with mortgage notes

Robert Hytha

Robert Hytha is the founder of FIXnotes, a company that helps investors source and buy real estate-secured assets at pennies on the dollar and earn double-digit yields with ZERO property management by investing in mortgage notes.

Round Table | 8 Money Habits Keeping You Broke / Poor

Some financial habits, big or small, can ruin one's chances of achieving financial freedom and leave one with empty pockets. Are you aware of your money habits? Your habits might be preventing you from reaching your financial goals, so it's best to evaluate what you've been doing when it comes to your finances.

How to create cash flow

Putting your money to work instead of keeping it idle

Why budgeting and planning are important

Do I Really Need to Invest in the Stock Market? with Garrett Gunderson

Do you want to be rich? Most people would say yes. But how do you build wealth when you do not come from money? How can you live a purposeful, passionate, and prosperous life? Let's hear from a “financial genius” who was not born into a wealthy family, yet he understands the essence of investing and creating wealth. What does he know that many people don't? Tune into today's episode with Russ, Joey, and their guest, Garrett Gunderson, for an entertaining yet informative conversation about money and investing.

Investing vs. Speculating

Three things to consider when choosing an investment opportunity

Why some people still believe in Wall Street as a way to build wealth

Garrett Gunderson

Garrett Gunderson is the founder of an Inc. 500 firm and the author of the New York Times bestseller Killing Sacred Cows. He has written several other books, including a children's financial literacy book. Garrett is called a “financial genius” in entrepreneurial circles but wasn’t born with a silver spoon. In fact, Garrett’s blue-collar roots are what makes him so passionate about helping entrepreneurs build financial freedom. When he’s not traveling, speaking, or spending time with his family, Garrett enjoys CrossFit, eats Paleo, and makes people laugh at local standup comedy clubs.

Round Table | Why Should You Become An Accredited Investor?

You may have heard the term “accredited investor” while listening to this podcast or from one of your wealthy friends. But do you know what it means to be an accredited investor and why you should become one? Regardless of where you may have heard the term, if you’re interested in finding better ways to invest your money, today's conversation will explain why becoming an accredited investor is a good idea and the benefits that come with it.

The benefits and opportunities available to accredited investors

How to become an accredited investor

Areas where you must proceed with care as you become an accredited investor

Passive Income: How We Started, How It's Going

Are you still just relying on your employment as a source of income? What's holding you back from starting your own business or investing in opportunities that will allow you to create passive income? Do you need more capital or investment knowledge to begin your wealth-building activities? Today, Russ and Joey share their passive income journey and the vital role infinite banking fulfilled as they invested in different ventures. As you listen, maybe an idea sparks your curiosity, and you want to learn more about it. You may want to know how to set up your infinite banking account. This episode will point you in the right direction. Top three things you will learn: New investment ideas you can explore Lessons from investing in different passive income opportunities ROI from investing in content websites and ice vending machines February 2024 Income At-A-Glance: Gross Income for February: $43,384.04 Total Expenses for February: $12,489.27 Total Net Profit for February: $30,894.76 Difference b/t January & February: ($3,311.40) % of net profit to overall gross revenue: 71%

Round Table | The 5 Biggest Tax Mistakes Business Owners Make

Whether you're an employee or a business owner, taxes take a huge chunk out of your earnings. Taxes are a part of life and doing business, and you can't escape from them. However, there are legitimate ways to minimize your tax liability. But you have to know where to seek advice. Don't go looking for ideas online because you can't be sure if they are good advice at all. If you don't want to fall victim to the biggest tax blunders business owners make, tune in to this conversation and learn why the internet is not always a reliable source of information, especially when you want to save on taxes.

Different tax strategies according to the internet

Why the tax strategies found online may not be good advice at all

What to do to save on taxes legally

Leasing Land for Solar: How Much Money Can You Make Per Acre? with Dakota Malone

Do you have at least 30 acres of land you want to monetize? There's an opportunity besides land flipping that can turn your property into an income-generating asset. You can get paid to let a solar developer install solar technology on your property. The best part is that you can make money going green without buying the system or having to maintain it. The solar company does all the work for you. If you're curious about this opportunity, tune in to today's episode with Russ, Joey, and their guest, Dakota Malone of Community Solar Authority.

How to turn raw land into an income-generating asset

How to work with a solar farm developer, either as a landowner or a partner

Other ways to work with a solar farm developer if you do not have raw land for lease

Dakota Malone

Dakota Malone is one of the Managing Partners at Community Solar Authority, a solar farm development company. Dakota is a five-heart surgery survivor with a love for entrepreneurship and jumping into co-founding a sustainability company aligned perfectly. He believes in working on meaningful projects that help reshape the world into a more empowered place.

Round Table | How Not to Invest in 2024

When looking for advice about investing and growing your money, you always seek guidance on what you must do. But a more practical thing to do is to think of all the possible obstacles and all the wrong things to do to ensure you fail. It's always better to understand both sides of the equation.

Possible places to keep your money so you can't access it when investment opportunities are available

Doing the opposite of what your Investor DNA indicates

Stop pursuing your financial goals, so you don't become financially free

Creative Finance 101: How to Get Started with Chris Prefontaine

Real estate is still one of the most profitable ways to build wealth. However, the lack of capital and information about creative financing strategies keeps most people from investing in real estate. So, how can you start learning about creative finance? Today, Russ and Joey speak with someone who knows the ins and outs of alternative financing strategies that individuals can utilize to acquire properties. Tune in and learn to think outside the box to secure the best funding for your real estate deals.

How to structure a deal to ensure all parties win

Components of six-figure deals

The biggest struggle people have

Chris Prefontaine

Chris Prefontaine is the Chairman and Founder of Smart Real Estate Coach® and a four-time best-selling author. He is a Forbes Business Council Member and a three-time Inc 5000 Honoree for Fastest-Growing Company. Chris and his wife Kim have been married for 37 years, and their grown-up children, Nick and Kayla, participate in the family business while pursuing their entrepreneurial ventures.

Round Table | Should You Invest or Pay off Debt?

Choosing between paying down debt and investing is a decision many people find challenging. For the majority, paying off debts is the usual priority, thinking that being debt-free is the same as being financially stable. However, when you look at the wealthy, you will see that they prioritize investing and making their money grow. Which should you choose!? Before you decide, there are things you have to consider.

Common mistakes people make

Rules people must understand

Strategies to win the game

3 Steps to Hiring a Virtual Assistant That Helps You Grow and Saves You Time with Laith Masarweh

Are you constantly feeling overwhelmed in running your business? Being an entrepreneur or a business owner is hard work, especially if you do most tasks. You need to be the salesperson, the marketing strategist, the manager, etc. But it doesn’t have to be that way forever. One way to help reduce the overwhelm is to start outsourcing various tasks in your business. A great way to do it is by hiring a virtual assistant who can give you more time and freedom to focus on doing what you love. You can work on the long-term vision for your business, develop deeper relationships with your clients, and have the flexibility to spend more time with your family. Such are the wonderful benefits of hiring a virtual assistant. But how do you find the best virtual assistant? Today's episode with Russ, Joey, and Laith Masarweh outlines the three steps to hiring a virtual assistant to help you grow and save time.

The benefits of hiring a virtual assistant

Tasks you can outsource to a virtual assistant

Where to find an amazing virtual assistant

Laith Masarweh

Laith Masarweh is the CEO and founder of Assistantly, a game-changer in the outsourcing and offshoring industry.

Round Table | How To Invest For Beginners: Passive Income Edition

Getting started as an investor can be challenging or even scary for beginners. You want to make a good return on your investment, but you know the possibility of losing your money exists in every investment opportunity. Even those who have acquired sufficient knowledge, expertise, and confidence are not immune to risks. But the difference is that they know how to identify and mitigate those risks. So, if you want to begin your investing journey, creating a short list of critical points that a beginning investor should know is a good starting point.

The DEAL

The RISKS

The RESULT

14 Passive Income Ideas: How We Made $34k in a Month

How in the world can someone have 21 different passive income streams when many people don't even have one? Today, you will know the answer to that question. Join Russ and Joey as they go over each of their investments and report their passive income, as they do every month. They also discuss how much money you need and how you can gather insights about each type of investment so you can begin building your passive income. Top three things you will learn: Different passive income ideas How much money you would need to invest Where to get insights about each investment type January 2024 Income At-A-Glance: Gross Income for January: $45,184.29 Total Expenses for January: $10,978.13 Total Net Profit for January: $34,206.16 Difference b/t December & January: $3,046.77 % of net profit to overall gross revenue: 76%

Round Table | Investing in Your Kids

Parents, do you realize you only have 18 summers with your kids? After that, you have to let them go. How are you making the most of your limited time with them? How are you teaching them the skills they need to become independent? Are you investing in your kids?

The importance of spending quality time with your kids

Activities and questions you can ask your kids to discover their interests

Teaching your kids about entrepreneurship and how to be financially independent

3-Step Guide to Travel for Free with Eli Facenda

Do you want to travel the world? Whether visiting friends and family, going on a business trip, or taking a bucket list trip, travel helps us thrive. But not everyone can travel as much as they want because it can be very costly. What if you could travel to any destination in business class for free? Earning free travel can be simple, but it takes strategy. Today's guest, Eli "The Travel Guy" Facenda, will teach you how to do this and help you stay organized.

How to maximize your point earnings

How to maximize your point redemptions

How to maximize your travel perks and benefits

Eli Facenda

Eli Facenda is known as The Travel Guy because he discovered a strategic way to get $50k-$150k/yr of first-class travel by maximizing points, and he can help you do the same.

Round Table | Is a 401(k) Really a Good Retirement Plan?

Most of the American workforce automatically enrolls in a company retirement plan such as 401(k) without a second thought because they have been told it’s the best way to plan for retirement. Tax deferral plus an employer match seem like obvious reasons to believe it's a wise investment. But is a 401(k) a good retirement plan? Are there creative ways to build wealth without putting money into qualified retirement plans? Fortunately, there are better options.

Why qualified plans are not the best place to put your money

What does pulling your money out of your 401(k) or IRA look like?

Better ways to achieve financial freedom instead of relying on traditional plans

The Rookie's Ultimate Guide to Multifamily Real Estate Investing with Gino Barbaro

Real estate investing is one of the best ways to build wealth. But which real estate asset should you buy? Compared to the usually popular retail, office, and hospitality markets, the US multifamily real estate market is said to be a better choice now for real estate investors. Why the shift? And how do you invest in multifamily homes if you have no idea how to do it? Today's episode with Gino Barbaro will set you up for a good start.

How to buy right

How to finance right

How to manage right

Gino Barbaro

Gino Barbaro: Investor, entrepreneur, and author with a $100M+ real estate portfolio. Co-founder of Jake & Gino, a leading multifamily real estate education company. Best-selling author of "Wheelbarrow Profits" and more.

Round Table | The Infinite Banking Concept Explained and How to Get Started

You've probably heard about the Infinite Banking Concept, but still can't wrap your head around it. After all, how does putting money in a life insurance policy help you get closer to financial freedom? If you want to understand how this whole concept works, today's conversation will give you a good foundation.

What is Infinite Banking?

Why would someone want to do Infinite Banking?

Why is Infinite Banking important to your financial freedom journey?

Teaching Kids About Money With Scott Donnell

As a parent, you naturally want your kids to become ready to face the world. You strive to raise responsible and successful individuals. One of the skills they have to learn is financial responsibility. However, schools do not have it in their curriculum. So it is your responsibility to start teaching your children about money at home. The earlier they learn financial literacy, the greater the long-term impact. Parents have their way of enforcing financial responsibility on their children, like assigning homework or chores in exchange for money. However, there is a more effective way to teach kids about money, and that's what Scott Donnell will teach you in today's episode.

The 3 E’s in the Home Economy (Expectations, Expenses, Extra Pay Opportunities)

The difference between being an entrepreneur and being entrepreneurial

How to teach your kids about value creation

Scott Donnell

Scott Donnell is the co-author of Value Creation Kid: The Healthy Struggles Your Children Need to Succeed. He established Apex Leadership Co, Hapbee Technologies, and the GravyStack™ banking app for kids and families. Since 2011, his companies have taught leadership, fitness, and financial competency to over 6 million kids nationwide. Scott lives in Phoenix with his wife, Amy, and their four kids. Connect with Scott Donnell: Instagram - https://www.instagram.com/imscottdonnell/