998: How to Create Multiple Streams of Income Through Real Estate Investing

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 31 July 2024

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you know how to create multiple streams of income, you can build wealth FAST. Thankfully, real estate has dozens (if not hundreds) of ways to make money, and there’s a good chance that what you’re doing right now in real estate could lead you to two, three, or four different income streams. Today, we’re talking to expert investor James Dainard about the EIGHT streams of income he’s built and how you can do it, too! Whether you own a few rentals, a whole portfolio, or are just getting started in real estate, this episode is for you. We’re teaching beginners how to go from zero to multiple streams of income and the one income stream you should focus on first. If you’re running out of time with your rental or house flipping business and want more passive income flowing your way, worry not. We’ll talk about what you can do to make more money on the side without the hassle of doing your own deals. We’re even going to share the one skill you MUST learn to make it rich in real estate and start building your income streams today. If you get this right, you’ll build wealth WAY faster than the rest! In This Episode We Cover How to create multiple streams of income through real estate investing The number one income stream new investors MUST build before anything else James’ eight different streams of income and how they make his investing even easier How to start investing for passive income and why you MUST be careful when doing this Buying businesses and how this can make you even MORE money when investing And So Much More! Links from the Show Join BiggerPockets for FREE Ask David Your Real Estate Investing Question Connect with Other Investors on the BiggerPockets Forums Grab Henry’s Newest Book, “Real Estate Deal Maker” Find an Investor-Friendly Agent in Your Area See Henry and James at BPCON2024 in Cancun! How to Create Multiple Streams of Income in Real Estate (00:00) Intro (01:12) Making Multiple Income Streams (04:38) How Newbies Can Start (09:00) Owning 8 Businesses!? (13:28) Passive Income Streams (18:59) Which Streams to Build (27:06) What to Start Doing NOW Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-998 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	If you're listening to this show, maybe you've done a few real estate deals and you're generating some cash flow,
0:05.0	but you're trying to figure out how to add cash to your bottom line in this challenging economy.
0:10.0	Or, maybe you're looking to expand beyond your bread and butter strategy, but the thought of bringing in or pinpointing a new strategy is daunting and overwhelming.
0:20.0	Or maybe you're interested in generating income more passively because you've realized that real estate investing
0:26.5	Especially being a landlord is not very passive if this is you. I've got some good news for you. You are in the right place.
0:40.0	Welcome to the BiggerPockets Real Estate Podcast. I'm your host Henry Washington and I'm here today with my good
0:44.9	buddy and one of our seasoned Swiss Army knife investors, James Daynard. James and I are going to break down
0:52.0	how to use real estate to generate multiple streams of income and how to think about the types of income streams you want in your portfolio.
1:01.0	Also we're going to talk about how James got started with these streams of income and how they all tie together
1:06.4	to help him thrive as a business person and a real estate investor.
1:10.2	All right, let's dive in with James Standard.
1:12.3	Why don't we start off by talking about what do you see as the biggest benefits to you and your businesses
1:17.4	by having multiple streams of income?
1:19.2	Oh, I mean, there's massive benefits.
1:21.7	And it really comes down to like as investors right we
1:24.4	how we make money is we take our money we go buy things with it right and we create
1:28.7	income streams whether it's flipping a property making profit or buying a rental property and making cash flow.
1:35.0	But the problem is you can kind of become this cash outflow machine all the time
1:40.4	because how do you make more money you go buy more deals and then as soon as you make
1:44.4	it you're putting it right back out the door and when you go through market cycles and this is really
1:49.9	what I learned this was in 2008 when you go through different types of market cycles, you want to make
1:55.4	sure that you can always keep the liquidity going in because if a market slows down, it
	...

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