Foreign.

You're listening to the Master Passive Income Podcast Network.

Welcome to the Master Passive Income Show.

My name is Dustin Heiner, and I'm here to help you get financial independence, create generational wealth so you could pass it on to your children and never work a job again by investing in real estate.

And in today's show, we're going to be talking to an expert at side hustles.

We know it takes money to invest in real estate.

We, we can use other people's money, but how much better also if you have a way to create a new income stream so that you can invest in real estate.

And he's going to show us how we can create side hustles that make us money while we sleep as well.

All right, let's start the show.

Welcome to the Master Passive Income podcast where we talk about investing in real estate with a special, special focus on making enough money so you can quit your job and live the dream life.

And now here is your host, Dustin Heiner.

What's up?

What's up?

Super blessed as always to have you here with me on the show.

Now, I gotta tell you, when you are around amazing people who are doing what you want to do and even doing it better than yourself, you just have to grow.

If you don't grow, you're probably just sleeping.

And so what I just did, I went to Cancun for a week.

We got, I left on Sunday, got there on Sunday, it was an all inclusive place, and left on Saturday.

But entire week, it was an amazing mastermind of other online business owners.

You know, master passive incomes, online business, podcasting, YouTubing, coaching.

It's basically just a way to reach people online instead of having a brick and mortar place.

Well, I went to this mastermind.

Now, First, I spent $50,000 just to be a part of this mastermind.

And I kid you not, in the first two events that I've been to, it's paid for itself.

Like, I've just been so blown away at the amazing people that I've met and the knowledge that I've talked to and learned people I talk to and the knowledge that I've gained from, from talking to these amazing, amazing people.

Now when you go to a conference, a conference, you might get one or two gold nuggets that you're like, wow, that was so good.

This was worth the trip to the conference.

Or this one connection.

Or that connection.

Well, at a mastermind, these are people who are at even higher level and they are so much more serious about their craft, about their business that they do.

So people who are serious, they, they go to conferences, but if they're even more serious, they go to masterminds or they become a part of the mastermind.

So I spent $50,000 to be a part of this mastermind and then I spent another.

I think it was like $6,500 to go to Cancun for this all inclusive place.

Now if you want to check out some of the fun things I did, like doing a gainer, which is a front facing backflip off of a cliff.

It's not really that high of a cliff, maybe 20ft, but you know, doing a gainer off of that.

Being at this amazing place, I posted some things on Instagram or Facebook.

You could check it out, YouTube, you can find me the Dustin Heiner at Instagram, give me a follow on there, send me a dm.

But you can see all the fun that I had there.

But it's not just the fun.

Well, here's the great thing.

It was a tax write off.

It was an amazing tax write off.

Being able to go to an all inclusive place, but every penny of it was a tax write off.

Cause it was a business expense.

And that $50,000 that I paid to be a part of the mastermind, that's a tax write off.

And I've grown and I make more money.

And in general because of the mastermind, on top of that paying for this expense to go to Cancun, that expense is another tax write off.

So last week I talked about the mastermind that we're putting on.

I'm putting on with me as well as other amazing real estate investors.

We're almost sold out.

We only have a couple spots left.

It's going to be in Denver September 19th through the 22nd.

And it's going to be a small, intimate group.

And you guys know, if you've listened to this podcast very long, you know I don't do any one on one coaching.

I don't do one on one coaching because I just don't have the time.

I have a family and I love doing that.

But we know we got a coach.

So we have three coaches now.

Jeremy Pusey is a brand new Coach, Charles Rose Jr.

As well as the William Palmer and we also have a multifamily coach.

Our fourth coach is Charles Seaman, but we have all these one on one coaches that coach people.

Well, if you want to get one with me and be two days at a retreat with me as well as other amazing real estate investors, Charles Rose Jr.

Will be there as probably the other coaches will be there too.

We're going to be masterminding together for two and a half days.

Two, two and a half days.

And we're going to be having such an amazing time, a lot of growth, but you need to be in the room.

The reason why I paid $50,000 because I wanted to be in the room with, with these amazing people.

Now you're gonna grow with spending one of two different things.

You can grow in life and in business and your real estate investing with your time, spending your time day in and day out, working, connecting with people.

And honestly, that's what I did back in 2006.

I started investing in real estate, started buying property after property, making lots of mistakes, not even knowing who to talk to and just doing it on my own.

Well, it took me about eight to nine years and eventually right before my 10th year, I quit my job, which was very, very blessed.

Now if I would have got coaching number one, that would accelerate it and got it faster.

But then if I would have got in the right room and accelerate even faster than that.

So remember, you're going to pay with either one of two ways, your time or your money.

That's the second thing I forgot to tell you.

You're going to pay with your money.

You can pay with your money and accelerate the time and get around the right people.

Here's, here's another thought.

I'm in a right room with people because I just built the Income builder software.

My, one of my students, Juan, is a fantastic programmer and we're creating the software that is right now it's free.

So if you want to.

I'll put the link in the description.

If you want to get your free account, it helps you to analyze properties.

We're currently developing how to find properties off market properties, send mail call and all that sort of stuff.

And we're developing this entire process.

But you can get a free app, access to it.

Right now, go to IncomeBuilder IE and create your own account.

You'll get it for free, you'll get access to it.

But at this Mastermind, I spent $50,000 to be a part of and another $6,500 to go to Cancun.

I made some amazing connections that these people have in their Rolodex, other people that would potentially be able to use and have their students, other coaches have other students use the, the software.

And what I'm trying to say is you can exponentially grow in instead of going 10 years to be able to quit your job hopefully in six, four, three, maybe even two years because you are in the right room and I want you to not do what I did.

I paid with my time.

I worked an extra five years at my job because I didn't know what I was doing.

I wasn't connecting with other people, I wasn't networking.

But I have now so many students in four and five years quitting their job, becoming financially independent because they're in the right room.

And this is a way, you don't have to be a student to be a part of this mastermind, but you do have to have the ability to grow and the desire to grow.

Well, check the link in the description.

If you go to masterpassiveincome.com mastermind it will send you to the most current.

So next year when you do another.

Mastermind, it'll update to that.

So always go to masterpassiveincome.com mastermind and you'll see the details where we're staying at.

Downtown Denver, Colorado.

Amazing hotel.

The Brown Palace Hotel is such a beautiful, amazing old hotel.

I mean, like, I think Elvis Presley stayed here, there, the Beatles, many presidents.

Like, it's an old historic hotel and it's super awesome.

But then you also get to be with me for two days, like almost one on one.

It might be, I think it's like 10 to 12 spots.

And so we're almost sold out.

So go secure your spot right now.

In fact, just today I got DMed.

By somebody on Instagram saying, hey, Dustin.

I really want to be a part of the Mastermind.

How do I join?

So I sent it over to him.

But this is for you too.

This is for you.

If you are wanting to scale up your business, if you want to get around the right people who are currently investing, if you want to get around me.

Like, I even had somebody say, hey, Dustin, is this actually going to be like coaching?

Like, well, you have my time.

Of course I'm going to be there.

Let's do it.

Let's get you to the next step.

And that's what that man, that's what master passive income is all about.

That's what the mastermind is all about.

And this is my goal.

And honestly, I'm gonna say one, one last thing.

So I may not do very many more masterminds because it's a lot of time and effort and there's only, let's say 10 or 15 people there when my goal is to help a million people.

So I might have to stop doing these masterminds.

So, so that I can then start helping many more people like, you know, get on big stages and teaching lots, like thousands of people instead of like 10 to 12 or 15.

So I might not do these anymore.

So you need to be in the right room with right people.

Go to masterpassiveincome.com mastermind and you will be able to get with me and other amazing investors now in today's show.

I'm super pumped to be sharing with you.

A friend of mine, he has an amazing podcast called called the side Hustle show and he has a community, the side Hustle Nation community on Facebook.

He is on a mission to help people get side create side hustles so that they can make money to get financially independent.

Whereas we as real estate investors, business owners, what we want to do is have that side hustle because if we have extra time, let's use a side hustle to make money so we can buy more investments and become more and more wealthy.

I have a good friend of mine and you definitely need to check out his podcast, his YouTube channel, the side Hustle Show.

I have a good friend of mine, Nick Loper, on the show.

He's going to show us how we can create the best side hustles to make us more money to invest in real estate.

All right, here we go.

Nick, thank you so much for being here, man.

Dustin, grateful to, to be here to hang out, to geek out on all these different money making ideas and creative side hustles.

I, I love that.

Well, a couple things.

You're frugal just like I am.

You do side hustles just like I am.

You podcast just like we have so many commonalities which is so much fun.

And then we ski too.

And that was a, that was a fun thing we learned in 2020, right before COVID we went skiing at a, you know, an event, at a fincon event, Mastermind type thing.

And it was so fun because honestly, like, I'm not a fantastic skier, but I'm pretty good.

And most people can't keep up because, you know, they're just, you know, they don't ski, they didn't ski their entire life.

And then I hear, I see you pass me, I'm like, oh, dang, this is great.

Yeah, it was great.

Yeah, we're like, let's go.

We hung out all weekend, so great.

Well, Nick, this is the idea of having another way to make money as.

Opposed to your job, which I love.

Calling your J O B because you're living just over broke working that just over broke job.

And then you're investing in real estate.

But there are other ways to make money.

That's not going to take a ton of time, but it'll help you in your endeavors to be financially independent.

Talk to me a little bit about your idea.

Like, what does side hustle mean?

Yeah, well, broadly speaking, side hustle is anything you're doing to make extra money outside of your traditional day job.

And I would bucket real estate under that umbrella.

Absolutely.

Where it differs from moonlighting or getting a second job or delivering pizzas or bartending on the weekends is this connotation of there's an entrepreneurial upside.

There's this implication that your side hustle has the chance to scale up, to be beyond trading time for money.

And maybe it's the thing that ultimately replaces the day job down line.

And not everybody wants to go that path.

Not every people, like, I'm happy with my job.

I just want to use my free time more effectively, more creatively, more productively.

And that's fine.

They're happy with, you know, whatever, whatever they can build on the side.

Other people are like, get me out of this cubicle as fast as humanly possible.

I totally, that's.

Well, that's how I was.

I was like, get me out of this cubicle as fast as I.

I was buying things at stores like I remember Ace hardware or auto parts store and selling them on ebay because I saw them, they were discounted clearance.

I would sell.

I do anything to make extra money to invest in real estate.

And I just knew that the more money that I make, the more I could invest in real estate to buy more real estate.

And then at the same time, I started businesses.

Now talk to me a little bit about.

Because when I.

Everybody has different connotations or understanding of what something means.

So side hustle, they think maybe a lot more work.

Are there any side hustles that aren't a ton of work but then have a good reward?

Like if you could boil your brain down, like you've, you've done thousands of interviews of different entrepreneurs.

What are some of the key ones that you've seen?

Take less time but make more money.

Yeah, this is, I mean, this is the million dollar question, right?

And actually just had Pat Flynn from Smart Passive Income on the show when we went through 10 different, know, popular passive income ideas, quote, unquote, passive income ideas to get his take.

Well, what's your rating?

How would you grade these?

And some of the ones that kind of had maybe the common themes were what are the things that I can set up in such a way that they can run more or less on autopilot and nothing is going to be completely passive.

There's going to be maintenance and upkeep and customer support and stuff required.

But he gave the example of is Pokemon YouTube channel, right?

He's like stuff that I uploaded two years ago is still racking up views.

He said if I stopped uploading today, yeah, it would be this kind of long, slow decline, but it would probably still be a five figure monthly income for at least a couple years.

Just based on the.

The back catalog, the archive.

So you're looking at businesses where you create this asset once and largely.

I deal with like digital assets, you know, articles, podcast episodes, YouTube videos, digital products.

Whereas I create the thing once and sell it over and over and over again.

Software would be in the same bucket.

We talked about his like Fuse box or smart podcast player, little website plugin that I've been paying for for years.

So I know it's relatively passive because at least has recurring revenue.

So looking at some of those types of models for you're trying to set something up that doesn't require client communication and client work on an ongoing weekly and monthly basis.

And I want to pause for just a quick second and say thank you so much for listening to the show.

If you've gotten anything out of the show, I would appreciate it if you went to anywhere that you listened to, let's say Apple or Spotify or wherever and leave a five star review.

Honestly, I really appreciate you leaving an honest review.

I just love giving all this information out and I want to see you succeed.

Also send this to one person.

Just tell one person, say, hey, Dustin wants to help a million people to invest in real estate.

You need to listen to this because it's going to change your life.

Lastly, get my real estate investment course completely for free.

Text the word rental R E N T A l rental to 33777 rental to 33777.

I'll literally give you my course showing you everything in the business so that you can become financially independent.

So you've got lots and lots of content out there.

I mean you've been doing it for a barrel.

2015 I think you started.

Yeah, even before that.

Dang, that's a long time.

And so creating content.

You have that much content out there with your podcast, you know.

Well, how many episodes are you now on the side Hustle show?

We're at like 6:70 or so.

675 was, was the episode with Pat 675.

That's so much content out there.

And what I love about the content is it's evergreen.

Like you just said, people can search for it and they could find it and they can download it, they can watch it, they can go back and binge everything.

As opposed to, let's say you had a business where you did Facebook ads or YouTube ads, where you place the ad in front of somebody one time and then it's gone.

So that money spent is not there anymore, or that their content that you created, it's only there when it's paid for.

And that organic content that you put out there, like a YouTube channel, that YouTube channel, like you said, the Pokemon channel, like Pat Flynn has, or the side hustle show, or like Master Passive Income, I get people watching those back videos all the time.

One of the funniest ones, or maybe one example that you might even be able to take from your day job is what I just call tutorial YouTube, where it's like, hey, I had this problem, I figured out how to solve it and I recorded the video on how to solve it in the example.

I just looked this up the other day.

It was like, how, how do I keep Dropbox from like storing files on my local hard drive?

Right?

It was like, this is supposed to be cloud storage.

I don't want it on my computer anymore.

And we figured out how to solve it.

It's like a one minute long video.

And over the course of nine or ten years that this video has been uploaded, it's just like looking in the YouTube analytics, it's made over a thousand dollars.

It's like, dang, I should have, you know, I should make more of those.

It's just like, you know, answering people's questions because YouTube is by and large a search engine, but it does have that kind of viral recommendation engine element to it as well, where if you're making, you know, Pokemon binder collection, you know, risky stuff that he's doing, but that stuff can really hit the viral lottery too.

What other types of side hustles can.

Can you think of that?

Let's say somebody's working a regular job, you know, nine to five or eight to five, Monday through Friday, and they want to start making some extra money to help pay for bills, but then also help save, maybe get him out of debt, but also save for investing.

Is there any other side hustles that you could think of that would be probably scratch that or mark check that marks that would help them to start making more money?

Yeah.

What's Interesting is even though you're already trading time for money at your day job, most more side hustle show guests started with a service based business than any other.

And I think the reason for that is it's low overhead.

You have almost no startup costs in terms of inventory or equipment or you know, building an audience, which you know, could take months or years, or building a product you can get started right away.

Find one client, you figure out how to solve their problem, and you're kind of off to the races.

Now from there is where it gets interesting because you're like, well do, do I really want to spend my nights and weekends doing this?

Is there a way to remove myself from that equation?

Is there a way to build kind of like.

And some people go down the agency model like, well, if I find other people, if I don't find myself in that freelancer's trap of selling my own skills, instead I'm selling a result to the client.

I go find other people who can deliver that result and take a margin in the middle.

We've seen people do this with graphic design, web design, cleaning services, window washing, you know, pretty much anything, you name it.

You can find somebody else who knows how to do that thing and be the marketer and administrator of that and all of a sudden you're no longer selling your own time.

You mentioned the, the product flipping type of business, the ebay arbitrage type of business, the garage sailing.

We've seen some people do some really cool stuff with consignment events because like, well, at a certain point I run out of inventory on the clearance, I elevase hardware.

And we've seen people go out and host these big consignment events for furniture, for clothing.

And they said what really works best is like limited time sale, right?

You can try and gather up all this stuff, but you could do it on a smaller scale just around your neighborhood, like, hey, spring cleaning time.

Do you have anything you want to get rid of?

I'll sell it for you, we'll split the proceeds, you know, name your name, your floor price, whatever you don't want to, you know, you wouldn't, you wouldn't let it go for any less than that.

But then otherwise, you know, I'll, I'll help you flip it.

I'll deal with the, the tire kickers on Facebook Marketplace, or I'll deal with the ebay people and get, get started that way.

Those are, those are great ideas, especially like a service based business.

I'll give you example.

My boys mowed our Front lawn.

And then our lawn next to our neighbor, like, butts together.

And so my boys were just cool, really nice, and they just mowed it.

They mowed the neighbor's lawn, and neighbor gave him, like, 15 bucks just because.

As a tip.

Because they weren't even trying to charge.

Yeah.

Now they got an idea like, oh, we can create a business.

Do that.

We can create it.

We can put people on, like, a monthly service fee, and we could mow it once a week.

And so they're starting that business, which is great.

And get those gears turning.

Exactly.

Now, you've also written a few books, and I love the books, but I don't want to go with the books.

Meaning I want to, like, deep down, think of what are the characteristics of successful side hustle people that you come across?

Because you've.

You've interviewed 600 plus, you know, you've done.

You've seen so many different side hustles, and there's probably some commonality, either personality traits or drive or whatever it might be like.

Can you boil down, like, what helps a side hustle expert to actually make a really good living at it?

The first is this willingness to take action, even if you don't know steps two through 10, even if you're not fully convinced that this is going to be the right idea.

It's like this idea that choosing what's next doesn't have to mean choosing what's forever, but there's this.

There's some entrepreneurial physics at work.

Right.

Like, where a side hustler in motion tends to stay in motion.

But similarly, you know, an entrepreneur at rest or a podcast listener at rest tends to stay at rest until acted upon by another force.

And that force has got to come from inside.

Like, there's got to be some intrinsic motivation of why do you want this?

Sure, we want to make extra money, but why do you want the extra money?

And then you got to go, you know, what's the rule?

Five, why's deep?

What is that really going to afford you?

Because it's hard.

And if you do it for two weeks, it's kind of like New Year's resolution.

I did it for two weeks.

I didn't see the results that I wanted.

Now it's hard, and I'm going to go back to my old ways.

So you got to have this really, really driving why behind it to see what's going on, this willingness to take action and this willingness to figure it out.

Like, Brian Harris has this old video.

Like, this is your number one job as an entrepreneur is like chief figure outerer.

And it's like you're, you're always going to run into kind of the ceiling of your own abilities and the ceiling of your own comfort.

And then you kind of are faced with that question like, well, do I shrink back from that or do I figure it out?

I'm going to have to figure it out as I go along.

The figuring it out is something that anybody who is going to be a business owner, especially real estate investor.

Real estate investors.

We're business owners.

Our inventory that we own is real estate.

And so that's what we own.

And when you figure things out, because.

You'Re going to have, do you consider.

It like a product business then?

100.

Absolutely.

It is one.

Rather than like a rental service.

Correct.

It's a product that my product, my property is what does the work for me.

And then I hire other people that make sure that that product is actually doing work.

Yeah.

One thing that we found is basically three ways to escape the rat race.

And then our mutual friend, Kellen Klein kind of breaks this down like traditional savings in retirement.

Paper assets, stocks, bonds, mutual funds, index funds.

Right.

That's like, that's the traditional path.

Amass this big enough nest egg and hopefully live off dividends, interest, appreciation for, for perpetuity.

He says, you know, for most people with the dedicated, you know, and pretty high savings rate, this is going to take 20 to 30 years.

Right.

That's path number one.

Path number two is Dustin's path, the real estate path.

How can we use a little more leverage?

How can we buy these assets, these cash flowing assets, these appreciating assets, these tax beneficial assets, and replace our day job income with that time of cash flow.

And if you're dedicated and diligent, Maybe that takes 10 years of building your portfolio, building enough doors, build enough cash flow that way.

The third path is this entrepreneurial pathway.

Probably the riskiest, maybe if you look at it in a certain way.

But I think it's got the biggest upside because it's like you create something, you have ownership equity in.

Every dollar that you add to your bottom line on a monthly basis is also 2 to 3x increasing the value of that asset in terms of its equity value in terms of potentially selling that business down the road.

And maybe that's, you know, a five to ten year process of getting something started, getting it off the ground and building it to the point, even if it starts as a side hustle, building it to the point where that replaces the salary and affords a pretty comfortable financially independent life.

Yeah, I love that.

And my perspective is that anything that you're going to do that's not working a job, working for somebody else, you need to have it as a perspective that it's a business that you have.

Now my real estate investing is a business that I own real estate and that real estate makes me money every single month.

Just like if I had any business.

I don't go into business to lose money.

Whenever I buy and sell a candy bar, I don't want to lose money, I want to make sure I make money every single month.

So same thing.

What I love is that if you are not working a job, you need to figure out what type of business can I build.

Because when you invest in real estate, you buy real estate and then that real estate is your business, then hopefully you become financially independent and then you have 40 plus hours of your life back to then I think you should build more businesses, other businesses.

Now the flip side to that too, let's say you're a side hustle expert and you do really, really well and and your side hustle becomes your full time business and you're like man, I can quit my job.

Well, you start making more money.

When you have a good business, you're going to be making more and more money.

Then you have to figure out how to protect that from irs, from Uncle Sam taking it from you and then you put it in real estate and you've invested in some of my deals and it's so terrific being able to invest together.

But a business owner should invest in real estate and then a real estate investor should start businesses.

At least that's my perspective.

Yeah, you think about that cash flow quadrant going back a long ways to the rich dad, poor dad.

And I found myself kind of on the maybe the self employed side where it's like if I stop working, it lasts for a little while but doesn't take long before something breaks.

A guest called it the laptop test, as in after you close your laptop, how long does this income really last?

It was kind of an eye opening exercise and Austin Netsley calls it the two week vacation test.

Right.

It's a good way to kind of stress test your business and your team.

Like how well is this really systemized to run without you?

Like where you find which bottlenecks really, really kind of pop up but trying to transition more to that business owner and investor side where systems are working for you and your money's working for you instead.

So personal question and you could dodge it.

If you want.

Are you at that phase where.

Because, I mean, if you don't put out shows, eventually it might dry up.

Have you been able to get other businesses, other investments?

Is that something that you've done?

Yeah, we've got a pretty healthy dividend portfolio where the cash flow coming from that is actually more than my, like, initial corporate salary.

And it's like, hey, that's kind of a cool milestone.

Took 20 years to get there, or almost 20 years to get there.

But it was.

We saw that on the.

On the tax return this year, which was kind of fun, fun little milestone.

And we're kind of in the point of coast fire or financial independence, where it's like, if it.

If it dried up tomorrow, if you suddenly got sick of would be fine.

Like, it would be okay.

But I find that doing the show has become almost part of my identity, where it's like, hey, every Thursday we got to kind of come up with some compelling radio to share.

And it's, um, really cool to be able to get paid to do that.

Oh, totally.

Podcasting's fun.

I just love podcasting.

It's, it's.

It.

It's the flagship for Master Passive Income.

Is.

Is the podcast.

And that's where most people find me now.

I got a question for you.

So you're frugal like me as well as you save money?

I save and invest probably about 90% of all the money that I make from my businesses to my real estate.

It all goes back into real estate.

I keep investing it.

Do you.

Have you thought through?

Because, you know, when you're first getting started, you're thinking, oh, I got to save 5%, I got to save 10%.

Have you thought through?

Because you're pretty frugal like I am.

Yeah, we never really looked at it, you know, from a 5 or 10% standpoint, but we did look at it from kind of like a household profitability or personal profitability standpoint, which is.

It's kind of mind blowing, and maybe it shouldn't be surprising, but, like, on your.

On your 1040, it'll say, what's your adjusted gross income?

Modified adjusted gross income.

All of that is great, but the number that's really, really important is how profitable were you as a household?

And it's like, it doesn't really matter what you make.

If you spent 90% of it, you're going nowhere.

So you got to figure out, how do you live with more margin.

And this is kind of the impetus of the whole side hustle show thing.

It's like of course, live frugally, spend intentionally, you know, invest where you get the most value.

Sure.

But at a certain point there's only so much you can cut.

Right.

You still got to eat, you still need somewhere to live, you still need a car to get you where you need to go.

But the revenue side of the equation is limitless and it's a lot more fun to work on that than.

Rather than clipping coupons and trying to figure out how to live as cheaply as possible.

Yeah, you can only cut so much before there's nothing.

It's like a race to the bottom and you don't want to do that.

I find that when you have problems, it like money doesn't like solve everything, but it solves a lot of problems when it's like mortgage payments or whatever it might be.

Yeah.

What's the Ryan Holiday line like?

If you got a problem that money can solve, you don't have a problem.

That's easy.

Easy to say if you got money to solve the problem.

But like is the example, like our garage door broke the other day and it's like one of the big old like lift springs is busted and it's like, that's not something I know how to do myself.

So you could call the repair guy and there's, you know, boom, thousand dollars out the door.

And so it's like the, the extra margin in your life gives you the.

I mean, I don't know if it's ever like comfortable, but you know, it's not going to, you're not going to have to choose between fixing the garage door or buying groceries.

You know, it's like just a little bit of financial breathing room can really, really go a long way towards, towards mental health and just kind of your overall well being now.

And I've heard, and this is just anecdotal from other people stating that they're like the most.

One of the most like biggest reasons for people to get divorced is financial issues, which I could definitely say.

I mean it just puts a strain on the marriage, puts a strain on the relationship.

And so you can have that where you don't have to think about the finances and make it so that it comes in without you having to stress.

I mean, when you don't have to worry about a mortgage, oh my goodness.

Like I remember when that first happened, I was like, what?

This is amazing.

Back in 2013, 2014, I was like just scrimping and saving just to pay the mortgage.

And now looking back now I have so lots and Lots of properties free and clear now and I don't have to think about the mortgage or bills.

I mean, that's just so freeing.

With then you can then focus on the most important things in life.

Do you reach a point where you're like, I don't need any more doors.

I, you know, am I adding more complexity to my life by building this empire?

You know, I'm going to go to 200 doors, I'm going to go to a thousand doors.

You're like, you know, with every jump up is another level of complexity and management.

Fantastic question.

And so right now I'm at a new point where I have 30 plus properties for myself.

And the apartment complexes you invested in, invest in some hotels, syndication.

But as far as like let's say single family homes, my bread and butter right now may actually say about a year ago I was like, okay, I'm set.

I don't really need that many more.

It'd be great.

I'll buy one here and there.

But now I've been blessed to now take the focus off myself.

Now I'm focusing on my kids.

Now my oldest daughter, who's 16 now, she bought her first property three months ago.

Now obviously I coached her just like I coached everybody else.

Yeah.

And she used her savings.

We got the property.

It's making, I think, $300 a month in passive income.

And I said, I'm going to help you do this, but you have to commit to not spending any of that money so you can snowball it into the next property.

And then let's say 10 years from now, you're going to have 10 properties, hopefully, Lord willing.

And then you're going to have, let's say, five, $10,000 a month of passive income.

And so every single one of my kids, it's now on me, like I'm putting it on myself.

I need more so I can have them have their own business that they've built with me.

Yeah, yeah.

And that's super cool.

To set them up for financial independence in their 20s.

Like, that's awesome.

It's so.

It is, it is.

It's encouraging when they get excited about it because they've seen me talk about it forever, they've listened to the podcast ever since they've been born, all that sort of stuff.

And so now having them excited about it.

And one quick thing, like they're excited about real estate investing, but they were.

Saying, well, how do we make more.

Money, dad, so we could buy more properties faster?

And so now with master passive Income, we Have seven total shows, seven other hosts that are underneath the master passive income Podcast network.

And so I hire somebody else in the Philippines to edit the podcasts.

I'm paying them.

And I thought literally just yesterday, why my kids edit my podcast?

Why don't I just pay my kids instead of this other person to edit.

The podcast for them?

Yeah, exactly.

And so they all said, yes, we're.

Going to do it.

So let's take turns like once a month, handle all the podcasts and then the next person.

The next person.

But it's.

Do we then pass on what we have, knowledge and property, or, you know, like the, the tangible things that we have, but set them up for success.

Yeah.

That's really cool.

Your kids are.

Have they been able.

They're.

They're under 10, right?

I.

Yeah, we got nine and seven.

Got it.

So hopefully pretty soon you can have.

Have them starting to turn.

Like, how.

How are we going to make some money?

They want to go sell like popsicles and root beer floats at the pool this summer.

It's like, yeah, we'll encourage this.

And they want to make, you know, YouTube videos.

And because they watch like, dude, perfect.

And my kids do too.

And after 10 minutes of filming, there's like this, this light bulb goes off.

Like, there's a new appreciation for the production quality for like how many, how many takes it must have.

Take it to like land that trick shot and do this stuff.

And it's like, I love that you're thinking, I want to be a creator, not just a consumer.

And.

But you see there, there's actual work that goes into.

It's not as easy as they make it look.

Totally.

My kids love.

They love watch on all that stuff.

And then the thinking of passing things on to them and building them up, that was something that really, about a year or two ago, it was something like, how do I get them doing what I'm doing?

Investing in real estate, number one, but also hopefully grow them.

I got three other businesses that they can hopefully eventually take over.

So I'm building them up and getting them doing their own side hustles.

Like, like my boys doing the lawn mowing.

Like, I want them to have that drive, that internal drive.

I'm saying, hey, if you're going to do this, you're going to go on your own.

Same thing, like driving.

Like, my daughter's 16.

She hasn't gotten her license yet.

I'm not, I'm not going to get.

Your license for you.

I'm not going to do the research.

I'm not.

You gotta make sure you do all that stuff.

And she's like, I want to do it.

Like, then get your butt up and do it.

Yeah, yeah, yeah.

Mom and dad were very motivated to not be driving me around anymore.

So they were like, their, their rule was like, you got to get your Eagle Scout before you get your driver's license.

And then they kind of realizing that might be years away, they.

They gave up on that.

Like, no, no, no, that's fine.

I think I hit it like just before turning 18, like, whatever the deadline is.

Wow.

So you, you became an Eagle Scout?

Yeah, a long time ago.

Dude, that's legit.

That's.

That's, that's hard work.

It was, but it was, you know, kind of a rewarding.

You gotta have something that you're shooting for, you know, whether it's like you sign up for, you know, a 10K, that's three months down the road, you know, whether you commit.

Like, I committed myself to speaking at fincon.

It's like you, you almost need something to like, you know, okay, there's a next milestone or something to shoot for.

Are you speaking this year, fincon?

Yeah, I'm talking about building your email list.

Oh, shoot.

I'm gonna have to go just to come watch.

Come heckle me.

Well, are we gonna go skiing this year?

Hopefully we can plan something out.

Yeah, it'd be cool.

Be great.

I'd love to.

I'd love to get out skiing.

Like I said earlier, we jumped before we jumped on.

Haven't gone on skiing, but now before we get off, because I definitely.

Everybody, you definitely need to check out the side Hustle show.

The podcast.

Definitely.

I mean, you're going to get so many.

If you are thinking, man, I want to make more money, but I have no clue how to do it.

Nick has so many episodes that if you're just driving to work, just listen to one, one a day, and you'll find something that will absolutely help you to make.

Create a side hustle.

And it might even just replace your business or your job, which would be great.

But with that, Nick, Nick with the side hustles, if.

If somebody starts getting a little deterred with life because life gets in the way, you know, your kids and then family.

What have you seen through past experience yourself or, you know, listening to other side hustle people to get past that, when life starts getting in the way?

Yeah.

So first having that, you know, driving motivation, that deep seated.

Why?

And I remember you telling me this story on the show and years ago about Getting laid off from the supposedly secure government job.

Like, no, never again.

We'll never, never again going to let this happen.

So having something like that in your back pocket can, can really go a long way.

Well, because life gets in the way.

And that's something when life gets in the way.

Yeah, yeah.

What we have found is if you are dedicated and diligent to making consistent progress, and it may not happen every day, but it should at the very least happen every week.

And what we found is people have the most control over the, the bookends of their days.

First thing in the morning, last thing before bed.

Especially if you're in a traditional job where you're putting out fires, you're responding to somebody else's agenda, at least take half an hour to move your own agenda forward, to be proactive about it, because nobody else is going to do it for you.

And that's kind of the.

Maybe the downside of entrepreneurship is like, hey, I want to be my own boss.

I want to call the shots.

But now you got to be your own boss and call the shots and dictate where are you going to steer the ship?

Because I've had stuff that sits on my to do list for weeks or months at a time.

It's like, well, come on, dummy, nobody's going to do it for you.

If it was that important to you, you're going to have to take action on it.

So there's definitely both sides of the entrepreneurial coin.

But the big thing for me when I was going down this entrepreneurial route was tv.

Because social media wasn't nearly as big back then.

What, 2012, 2010, something like that.

Social media wasn't really as big and so you didn't really scroll as much.

So that's one.

If you're watching TV a lot, cut that out.

Like, didn't cut out.

Get rid of the tv.

I'm telling you, that's gonna just, yeah.

Ruin you then scrolling.

Like, how much time do we spend on social media?

Just it's made to addict you to the next thing and the next thing and next thing.

If you cut that out, I feel.

Like I'm pretty, like pretty good at it.

And then you still get like the weekly screen time reports and it's like you spend an hour and a half a day and it's like really like, dang, that's like nine, ten hours over the course of the week.

Like, that's not great.

Some of it was work time, you.

Know, but yeah, definitely, yeah.

I've been pushing on Instagram, you know, getting followers.

And so I had to consume it in order to tell myself I have to consume in order to get better at it.

But at the same time I find myself, my goodness, how much time am I spending on social media that I could be spending doing something else to help more people, to invest in real estate or build my family up or whatever like that?

Yeah, yeah, definitely.

You can do this time audit exercise of, well, you know, start time, stop time, what am I working on?

There's a few apps that, that'll do it for you.

I mean, it's still tedious, you could do it in an Excel spreadsheet.

But it's pretty eye opening to say, well, where did my time really go?

And then you can kind of have the honest conversation with yourself.

Because I was for a long time really, really guilty of saying, well, I didn't have time, I didn't have time to do that.

What I've tried to shift is my language and self talk around that saying, I prioritized something else.

Maybe I prioritized watching tv, maybe I prioritized hanging out with the kids.

There's no fault in that.

But like that, having that honest conversation, I prioritized something else instead of, well, I didn't have time.

When people say I don't have the time, it comes down, you don't make the time.

That's really what you got to do.

And so if you've boiled for me, if I boiled everything down to what is if to be an entrepreneur, to be a side hustle person, it's to be intentional and diligent.

Like you need to intentionally make yourself do that and then diligently doing every single day, day for giving or forgoing things that are probably good for things that are going to be great in the future.

Delayed gratification.

I love the idea of delayed gratification.

And maybe thinking when, if you're in that idea of validation or idea, you know, maybe choosing between three or four different options, like trying to project out three or five years down the road of what does success look like in this business?

If I give it an honest try, if I take a swing and put in my best effort and it works, is that worth it?

Because you might find, okay, I signed up for DoorDash and now three to five years, I'm still making my 15, 20 bucks an hour delivering food for DoorDash.

If that's a near term win, absolutely.

But like, is that going to get you to your long term goals?

Maybe, maybe not.

And so trying to put it through that early on, we're very focused on like the fear of failure side.

The downside risk is this, am I going to go broke?

Am I going to look stupid?

Is this going to be a flop?

You know, what's that going to do to my psyche and my finances?

But on the other side, really, really important to look at.

Well, what if it works and is that going to be a win for me?

Totally.

I love it, Nick.

Well, everybody, you need to be listening to the side Hustle Show.

Fantastic show.

I've been on there once, if not twice, but Nick, super awesome.

How can people find you?

Let's say social media or anything else that we need to know how to get a hold of you.

Yeah, we'd love to have you tune into the side Hustle show.

You'll find it in all your favorite podcast apps.

You find it on YouTube.

Like Dustin said, there's over 600 something episodes to choose from.

What would love to have you binge on the archives?

Understanding probably not realistic.

So what I did, I put together a playlist quiz where if you answer a few short questions about your Side Hustle goals, interests, we'll send you the 8 to 10 greatest hits episode in that category for you.

So that's at Hustle that show.

And you can do that on your phone, answer those few short questions and get that personalized custom curated playlist.

That sounds awesome.

How did is that like a program you guys had to develop?

It was through this quiz software called Interact.

Try Interact.

Wow, that's awesome.

Which I stole from a guest of mine.

She had a.

She was like a fractional cfo, like a accounting business.

And you know, she had like 200 episodes and she's like, oh, I asked people, you know, what are they struggling with, you know, when it comes to their finances and accounting.

And then I steer them to the episodes that are going to be most helpful for them.

Like, oh, I'm totally stealing this.

I'm going to have to do that too, because I got so many people asking me questions.

What about this?

What about that?

And so this, wherever you're struggling, just.

I love it.

Nick, this is super awesome.

Really appreciate you, man.

What's.

Don't you have any.

You have social media that we can share?

The.

Probably the most active is the side Hustle Nation Facebook community.

If you just look up side Hustle Nation, you'll find the group over there.

We probably have 50 or 60,000 members.

So fairly active, engaged, supportive community to help you out.

Awesome.

Hey, Nick, great seeing you again, man.

Thanks for being on the show.

Cheers.

And that is it for today.

Go ahead and get my free real estate investing course, Texas word rental to 33777.

R E N T A L to 33777.

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All right, guys, we'll see you in the next show.

See ya.