WEBVTT Kind: captions Language: en you know what fascinates me about you know what fascinates me about you know what fascinates me about passive income everybody's chasing it passive income everybody's chasing it passive income everybody's chasing it but almost nobody understands what makes but almost nobody understands what makes but almost nobody understands what makes income truly passive I spent years income truly passive I spent years income truly passive I spent years figuring this out the hard way and today figuring this out the hard way and today figuring this out the hard way and today before the end of this video I'm going before the end of this video I'm going before the end of this video I'm going to share something that completely to share something that completely to share something that completely changed how I think about Building changed how I think about Building changed how I think about Building Wealth passively but first let's talk about passively but first let's talk about passively but first let's talk about what most people try that doesn't what most people try that doesn't what most people try that doesn't usually work and why number one is real usually work and why number one is real usually work and why number one is real estate I used to think that I had it all estate I used to think that I had it all estate I used to think that I had it all figured out I had a multi-million dollar figured out I had a multi-million dollar figured out I had a multi-million dollar real estate portfolio professional real estate portfolio professional real estate portfolio professional management and the dream of mailbox management and the dream of mailbox management and the dream of mailbox money so everybody that I knew thought I money so everybody that I knew thought I money so everybody that I knew thought I was crazy when I sold it all to get into was crazy when I sold it all to get into was crazy when I sold it all to get into something else but here's what a something else but here's what a something else but here's what a successful rental property actually successful rental property actually successful rental property actually looks like you buy a house for looks like you buy a house for looks like you buy a house for $200,000 and after a month of searching $200,000 and after a month of searching $200,000 and after a month of searching you find a great tenant who agrees to you find a great tenant who agrees to you find a great tenant who agrees to pay you $2,000 a month sounds great pay you $2,000 a month sounds great pay you $2,000 a month sounds great right but then reality hits if you right but then reality hits if you right but then reality hits if you didn't buy it with all cash you have a didn't buy it with all cash you have a didn't buy it with all cash you have a mortgage of probably $1,200 mortgage of probably $1,200 mortgage of probably $1,200 once you pay property taxes that's once you pay property taxes that's once you pay property taxes that's another $200 of expenses Insurance another $200 of expenses Insurance another $200 of expenses Insurance another 100 you're smart so you also set another 100 you're smart so you also set another 100 you're smart so you also set aside 200 bucks a month for maintenance aside 200 bucks a month for maintenance aside 200 bucks a month for maintenance because things break they always break because things break they always break because things break they always break and unless you want those 3:00 a.m. and unless you want those 3:00 a.m. and unless you want those 3:00 a.m. calls about broken water heaters you're calls about broken water heaters you're calls about broken water heaters you're probably also going to pay a property probably also going to pay a property probably also going to pay a property manager another 200 bucks a month for manager another 200 bucks a month for manager another 200 bucks a month for 10% of the Topline rent that leaves you 10% of the Topline rent that leaves you 10% of the Topline rent that leaves you with taada $100 a month $100 monthly on with taada $100 a month $100 monthly on with taada $100 a month $100 monthly on on a $200,000 investment but maybe you on a $200,000 investment but maybe you on a $200,000 investment but maybe you only spent $40,000 if you financed 80% only spent $40,000 if you financed 80% only spent $40,000 if you financed 80% of the purchase and if everything goes of the purchase and if everything goes of the purchase and if everything goes perfectly that's a 3% annual rate of perfectly that's a 3% annual rate of perfectly that's a 3% annual rate of return on your 40K investment if you're return on your 40K investment if you're return on your 40K investment if you're making a 100 a month in cash flow it's making a 100 a month in cash flow it's making a 100 a month in cash flow it's hard to retire to Fiji with that kind of hard to retire to Fiji with that kind of hard to retire to Fiji with that kind of passive income model again this is if passive income model again this is if passive income model again this is if everything goes right I had a property everything goes right I had a property everything goes right I had a property that I have since sold where the tenant that I have since sold where the tenant that I have since sold where the tenant moved out and destroyed the place so moved out and destroyed the place so moved out and destroyed the place so thoroughly that their rent deposit thoroughly that their rent deposit thoroughly that their rent deposit didn't even come close to covering the didn't even come close to covering the didn't even come close to covering the amount of damage about 10% of the amount of damage about 10% of the amount of damage about 10% of the remodel was actually covered in their remodel was actually covered in their remodel was actually covered in their rent deposit at $700 a month for rent rent deposit at $700 a month for rent rent deposit at $700 a month for rent the turnover cost me more than $77,000 the turnover cost me more than $77,000 the turnover cost me more than $77,000 to get the house back in shape this to get the house back in shape this to get the house back in shape this could have been avoided and should have could have been avoided and should have could have been avoided and should have because I had a property manager who is because I had a property manager who is because I had a property manager who is supposed to be taking care of these supposed to be taking care of these supposed to be taking care of these properties and tenants but they went properties and tenants but they went properties and tenants but they went long enough without doing an inspection long enough without doing an inspection long enough without doing an inspection that everything just went uncared for so that everything just went uncared for so that everything just went uncared for so the lesson here is nobody's going to the lesson here is nobody's going to the lesson here is nobody's going to take care of your things like you do and take care of your things like you do and take care of your things like you do and if you have to take care of your own if you have to take care of your own if you have to take care of your own property management that kind of defeats property management that kind of defeats property management that kind of defeats the purpose of all of it being passive the purpose of all of it being passive the purpose of all of it being passive number two is dividend stocks so after number two is dividend stocks so after number two is dividend stocks so after the real estate headaches many people the real estate headaches many people the real estate headaches many people will turn to dividend stocks I get it it will turn to dividend stocks I get it it will turn to dividend stocks I get it it sounds perfect you buy shares of stable sounds perfect you buy shares of stable sounds perfect you buy shares of stable companies that raise their dividends and companies that raise their dividends and companies that raise their dividends and collect regular payments no tenants no collect regular payments no tenants no collect regular payments no tenants no toilets no trash no termites but let me toilets no trash no termites but let me toilets no trash no termites but let me walk you through the reality if you walk you through the reality if you walk you through the reality if you wanted to generate $110,000 a month in wanted to generate $110,000 a month in wanted to generate $110,000 a month in dividend income a reasonable passive dividend income a reasonable passive dividend income a reasonable passive amount to travel full-time you'd need amount to travel full-time you'd need amount to travel full-time you'd need about 2 to 5 million invested depending about 2 to 5 million invested depending about 2 to 5 million invested depending on what kind of portfolio you construct on what kind of portfolio you construct on what kind of portfolio you construct and the risks that are inherent in it and the risks that are inherent in it and the risks that are inherent in it think about that for a second $5 million think about that for a second $5 million think about that for a second $5 million sitting in the market subject to Market sitting in the market subject to Market sitting in the market subject to Market volatility just to generate what many volatility just to generate what many volatility just to generate what many would consider a pretty modest income would consider a pretty modest income would consider a pretty modest income that's not necessarily easy to achieve that's not necessarily easy to achieve that's not necessarily easy to achieve even if you're a high earner who's been even if you're a high earner who's been even if you're a high earner who's been working for a while and here's what working for a while and here's what working for a while and here's what nobody tells you about dividends either nobody tells you about dividends either nobody tells you about dividends either during Market downturns even the most during Market downturns even the most during Market downturns even the most stable companies can cut them many stable companies can cut them many stable companies can cut them many people can lose major portions of their people can lose major portions of their people can lose major portions of their passive income overnight because passive income overnight because passive income overnight because companies needed to preserve cash to companies needed to preserve cash to companies needed to preserve cash to stay alive it's not exactly the stay alive it's not exactly the stay alive it's not exactly the reliability that most people are looking reliability that most people are looking reliability that most people are looking for to disengage and go do things that for to disengage and go do things that for to disengage and go do things that they enjoy number three that many people they enjoy number three that many people they enjoy number three that many people try are digital products if you spend try are digital products if you spend try are digital products if you spend any time online you've probably heard any time online you've probably heard any time online you've probably heard about making digital products you're about making digital products you're about making digital products you're supposed to create it once and then sell supposed to create it once and then sell supposed to create it once and then sell it forever which sounds amazing right it forever which sounds amazing right it forever which sounds amazing right many people have built what they many people have built what they many people have built what they consider the Perfect online course spend consider the Perfect online course spend consider the Perfect online course spend 6 months creating it launch day comes it 6 months creating it launch day comes it 6 months creating it launch day comes it makes some sales hooray it feels great makes some sales hooray it feels great makes some sales hooray it feels great and then months later the ad platform and then months later the ad platform and then months later the ad platform changes its algorithm and your sales changes its algorithm and your sales changes its algorithm and your sales slump 6 months later your content needs slump 6 months later your content needs slump 6 months later your content needs updating a year later you're spending updating a year later you're spending updating a year later you're spending more time on customer service and more time on customer service and more time on customer service and support than you did at your old job the support than you did at your old job the support than you did at your old job the dirty secret of building digital dirty secret of building digital dirty secret of building digital products and letting them sell products and letting them sell products and letting them sell themselves is that they're only passive themselves is that they're only passive themselves is that they're only passive until they're not the internet moves so until they're not the internet moves so until they're not the internet moves so fast nowadays and what worked yesterday fast nowadays and what worked yesterday fast nowadays and what worked yesterday might be obsolete tomorrow and really might be obsolete tomorrow and really might be obsolete tomorrow and really what you're getting into is a business what you're getting into is a business what you're getting into is a business not a pass passive income stream number not a pass passive income stream number not a pass passive income stream number four that many people try is some kind four that many people try is some kind four that many people try is some kind of automated side Hustle the modern of automated side Hustle the modern of automated side Hustle the modern favorite of these automating a side favorite of these automating a side favorite of these automating a side hustle like Drop Shipping Amazon FBA hustle like Drop Shipping Amazon FBA hustle like Drop Shipping Amazon FBA social media management everybody has social media management everybody has social media management everybody has some kind of system or blueprint or some kind of system or blueprint or some kind of system or blueprint or proven method maybe they even want to proven method maybe they even want to proven method maybe they even want to teach you how to be an influencer but teach you how to be an influencer but teach you how to be an influencer but here's what usually happens you spend here's what usually happens you spend here's what usually happens you spend months building these systems hiring months building these systems hiring months building these systems hiring virtual assistance setting up processes virtual assistance setting up processes virtual assistance setting up processes and just when you think it's running and just when you think it's running and just when you think it's running smoothly suddenly your supplier goes to smoothly suddenly your supplier goes to smoothly suddenly your supplier goes to you a supply chain breaks your ad costs you a supply chain breaks your ad costs you a supply chain breaks your ad costs triple or your customer service implodes triple or your customer service implodes triple or your customer service implodes I've watched brilliant people including I've watched brilliant people including I've watched brilliant people including myself in the early days burn out trying myself in the early days burn out trying myself in the early days burn out trying to automate businesses like these that to automate businesses like these that to automate businesses like these that were never meant to be passive they were never meant to be passive they were never meant to be passive they didn't want a new job they really wanted didn't want a new job they really wanted didn't want a new job they really wanted passive income but unfortunately most of passive income but unfortunately most of passive income but unfortunately most of these business models are just another these business models are just another these business models are just another job or business unless you're in the top job or business unless you're in the top job or business unless you're in the top 1% of operators who are doing this at 1% of operators who are doing this at 1% of operators who are doing this at the highest level with Incredible scale the highest level with Incredible scale the highest level with Incredible scale and a team behind you for most people and a team behind you for most people and a team behind you for most people the 99% this is not a strategy that the 99% this is not a strategy that the 99% this is not a strategy that works passively number five I'm going to works passively number five I'm going to works passively number five I'm going to share with you the perfect criteria for share with you the perfect criteria for share with you the perfect criteria for generating truly passive income after generating truly passive income after generating truly passive income after years of trying everything I realized years of trying everything I realized years of trying everything I realized what high quality truly passive income what high quality truly passive income what high quality truly passive income needs these are all the boxes that it needs these are all the boxes that it needs these are all the boxes that it needs to check there need to be no human needs to check there need to be no human needs to check there need to be no human variables mathematical certainty without variables mathematical certainty without variables mathematical certainty without being subject to the whims of tenants or being subject to the whims of tenants or being subject to the whims of tenants or public company CEOs there need to be public company CEOs there need to be public company CEOs there need to be fixed costs some degree of scalability fixed costs some degree of scalability fixed costs some degree of scalability so that as I get more money I can put so that as I get more money I can put so that as I get more money I can put more into it a stream of income ideally more into it a stream of income ideally more into it a stream of income ideally daily or weekly not quarterly or yearly daily or weekly not quarterly or yearly daily or weekly not quarterly or yearly tax advantages if possible and tax advantages if possible and tax advantages if possible and appreciation potential so that my appreciation potential so that my appreciation potential so that my portfolio continues to grow this sounds portfolio continues to grow this sounds portfolio continues to grow this sounds like an impossible list right that's like an impossible list right that's like an impossible list right that's what I thought too until I discovered what I thought too until I discovered what I thought too until I discovered something that checked every single box something that checked every single box something that checked every single box and made me sell my entire real estate and made me sell my entire real estate and made me sell my entire real estate portfolio to get into it what you're portfolio to get into it what you're portfolio to get into it what you're looking at now is a special kind of data looking at now is a special kind of data looking at now is a special kind of data center this is the digital center this is the digital center this is the digital infrastructure generating more on a infrastructure generating more on a infrastructure generating more on a daily basis than my entire real estate daily basis than my entire real estate daily basis than my entire real estate portfolio used to make monthly these portfolio used to make monthly these portfolio used to make monthly these machines are running 24/7 converting machines are running 24/7 converting machines are running 24/7 converting energy into value through pure energy into value through pure energy into value through pure mathematics there's no tenants no Market mathematics there's no tenants no Market mathematics there's no tenants no Market whims no algorithm changes just whims no algorithm changes just whims no algorithm changes just consistent predictable production we consistent predictable production we consistent predictable production we built this facility in Oregon for a built this facility in Oregon for a built this facility in Oregon for a specific set of reasons one we have specific set of reasons one we have specific set of reasons one we have fixed hydroelectric power rates which fixed hydroelectric power rates which fixed hydroelectric power rates which are stable from year to year we live are stable from year to year we live are stable from year to year we live been a perfect climate for cooling data been a perfect climate for cooling data been a perfect climate for cooling data centers like these we have professional centers like these we have professional centers like these we have professional 24/7 management and true automation of 24/7 management and true automation of 24/7 management and true automation of income production I'm going to show you income production I'm going to show you income production I'm going to show you some of the real numbers behind this if some of the real numbers behind this if some of the real numbers behind this if you are going to get a single server one you are going to get a single server one you are going to get a single server one of those units costs about $10,000 all of those units costs about $10,000 all of those units costs about $10,000 all in with the first year of electricity in with the first year of electricity in with the first year of electricity included that same unit is going to included that same unit is going to included that same unit is going to produce Bitcoin on a daily basis produce Bitcoin on a daily basis produce Bitcoin on a daily basis generate about generate about generate about $4,200 annually at current prices check $4,200 annually at current prices check $4,200 annually at current prices check with your CPA on this but it qualifies with your CPA on this but it qualifies with your CPA on this but it qualifies for 60% firste depreciation so you get for 60% firste depreciation so you get for 60% firste depreciation so you get an immediate write off against your an immediate write off against your an immediate write off against your income and typically retains 75% of its income and typically retains 75% of its income and typically retains 75% of its value after year 1 our current clients value after year 1 our current clients value after year 1 our current clients are making $1,000 up to $200,000 a month are making $1,000 up to $200,000 a month are making $1,000 up to $200,000 a month and you can make 10K a month spending and you can make 10K a month spending and you can make 10K a month spending less than a million on a fleet of less than a million on a fleet of less than a million on a fleet of machines rather than a $5 million machines rather than a $5 million machines rather than a $5 million dividend portfolio for the same outcome dividend portfolio for the same outcome dividend portfolio for the same outcome you can do this while others around you you can do this while others around you you can do this while others around you are chasing 8% annual returns that are chasing 8% annual returns that are chasing 8% annual returns that barely Pace with inflation look I get it barely Pace with inflation look I get it barely Pace with inflation look I get it this may sound completely different from this may sound completely different from this may sound completely different from what you're used to and that's because what you're used to and that's because what you're used to and that's because it is we're not just building another it is we're not just building another it is we're not just building another passive income stream that you've heard passive income stream that you've heard passive income stream that you've heard of a thousand times we're part of the of a thousand times we're part of the of a thousand times we're part of the future of finance and energy if you want future of finance and energy if you want future of finance and energy if you want to learn more about how this could work to learn more about how this could work to learn more about how this could work for your portfolio please send us a for your portfolio please send us a for your portfolio please send us a message to our Instagram or Twitter @ message to our Instagram or Twitter @ message to our Instagram or Twitter @ abundant Minds for a private abundant Minds for a private abundant Minds for a private consultation we're pretty selective consultation we're pretty selective consultation we're pretty selective about who we work with but for the right about who we work with but for the right about who we work with but for the right Partners we are building something Partners we are building something Partners we are building something special take care and I'll see you on special take care and I'll see you on special take care and I'll see you on the other side the other side the other side [Music]