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Main Street Business

#484 How to Build a Passive Income Empire (3 Step Formula)

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Irs Updates, Financial Reporting, Management, Business Structure, Accounting, Legal Compliance, Business, Entrepreneurship, Tax Strategies, Tax Tips, Estate Planning, Tax Prep

4.8584 Ratings

🗓️ 12 March 2024

⏱️ 25 minutes

🧾️ Download transcript

Summary

In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen share their insights on building a passive income empire. They lay out a three-step formula, backed by their years of experience as tax attorneys, to help you achieve financial freedom. Here's what you can expect: A discussion on the importance of having a side hustle or small business, emphasizing its role as a revenue-generating asset that can fuel your future investments.Practical advice on investing ...

Transcript

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0:00.0

Welcome back, everybody, to the Main Street Business podcast with yours truly Mark Kohler and the illustrious Matt Sorenson.

0:08.4

We are going to show you the three-step formula to build a passive income empire.

0:14.5

And if you follow these three steps, it's almost inevitable that you will reach that goal and it will change your life.

0:21.7

We are bestselling authors, tax attorneys, and partners in a law firm that's been helping clients

0:25.5

for the last 20 years build these passive income empires. We know exactly what it takes and we're

0:31.5

going to share these secrets with you now. There's a ton of misinformation on this topic.

0:35.6

Shocker, I know, but there's so much BS out there

0:38.2

about how to build passive income. But we're going to give you the real strategies what real

0:42.6

people are using to build a real wealth in a passive way where your money's working for you.

0:48.6

You're not always working for you. Our goal is not to tell you exactly what to invest in.

0:53.4

We've got clients investing in all

0:54.5

sorts of things to create passive income, but it's the structure and the methodology in which

0:59.7

they do it. And no one talks about that because it's not sexy and fun. They want to talk about,

1:05.0

oh, invest in this. Oh, I did a 4x on this, buy this, buy that. But no one's breaking it down in

1:09.8

almost a step-by-step formula. Now, our opinions on this, buy this, by that. But no one's breaking it down in almost a step by step formula.

1:13.0

Now, our opinions on this have been informed by 10,000 plus hours of consulting clients and

1:18.4

figuring out what they've done, whether it's helping a client with an estate plan and seeing

1:22.2

how did they build their wealth. And having those conversations, we've heard the stories

1:26.6

and seen it on paper,

1:28.8

on the balance sheet about how they've truly built passive wealth and income. That's how our

1:33.7

opinion has been informed on this. Real people, real experiences. And we found three ways.

1:38.3

Three ways. And by the way, this has been, it's been ugly. We see, we see clients killing it,

...

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