756: The Truth About Passive Income - Episode 756
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 15 July 2021
⏱️ 11 minutes
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Summary
I'm going to share the biggest misconception about passive income. You'll hear about the work involved with investing and what you need to do to nurture your portfolio. Click play to hear the truth about passive income!
Transcript
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| 0:00.0 | What's up everyone? |
| 0:05.0 | up everyone, Clayton here. I can't wait to talk to you today about passive income |
| 0:09.4 | and the truth about passive income. You know, there's a lot of gurus online to talk about just |
| 0:14.6 | do something once and let all this money flow into you for the rest of your life. |
| 0:18.7 | Well the truth is much more subtle, much more complex than most internet gurus would like to make it out to be. |
| 0:25.6 | So I want to talk about passive income, but I first think it's important for us to define |
| 0:29.4 | what passive income is versus what active income is. Now most of us have been trained since high school, since elementary |
| 0:36.8 | school to work for somebody else, to grow up, to work for somebody else to trade time for money. That's what schools do. They set you up to work for another human being in another office to make somebody else rich. That's active income. You're actively trading time for money. |
| 0:57.6 | Passive income is where your assets, your hard work for you. And every month cash flow can come in in the form of a business or from real estate investing. |
| 1:07.4 | Now my favorite way of creating passive income is through real estate investing, buying properties, holding those properties, and every month those properties generate cash flow for me. |
| 1:19.0 | Now, it is true that passive income exists. I know there are also people on the other side of the coin out there who will say there's no such thing as passive income. |
| 1:28.0 | Passive income doesn't exist. It's a unicorn. |
| 1:31.0 | Unicorn, like my little girl. Tell, like my little girl. |
| 1:33.8 | Tell that to my little girl. |
| 1:34.8 | She'd be super upset that there's no such thing as a unicorn. |
| 1:38.3 | But the reason I wanted to do this video |
| 1:39.8 | is because there's a huge misconception about passive income. |
| 1:44.0 | This is something that those internet gurus are never going to tell you. |
| 1:48.0 | The truth is that passive income isn't truly passive at its core. There is no set it and forget it like the Ron |
| 1:56.8 | popeel infomercials from the 1980s and 90s right? Just put a chicken in there, |
| 2:01.7 | set it and forget it. That's not how it works. |
| 2:04.8 | Passive income is, however, the byproduct of you putting in the hard work up front |
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