How to Build Multiple Streams of Income and Become Financially Free

The Mindvalley Podcast with Vishen

Mindvalley

Education, Mental Health, Health & Fitness, Self-improvement

4.5 • 1.5K Ratings

🗓️ 4 September 2023

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today on The Mindvalley Show, get ready to unlock the secrets of financial mastery with our esteemed guest, Robert G. Allen. A renowned author and speaker celebrated for his expertise in real estate investing and multiple income streams, he's the genius behind the bestselling book, "Multiple Streams of Income." In this episode, Robert will lead you on a journey to financial freedom and help you build multiple streams of income. Delve into the vital lessons that lead to financial security and independence. Robert Allen emphasizes the necessity of diversification and the power of generating money while you sleep through residual income. Learn about the groundbreaking Money Tree formula, including its five essential branches, and delve into the world of real estate investing and tax liens as lucrative income sources. Are you ready to revolutionize your financial future? Tune in to this electrifying episode and embark on your quest for multiple streams of income, residual riches, and lasting financial freedom. With Robert as your guide, you'll gain the insights and strategies needed to transform your wealth landscape. Key takeaways: [02:17] The importance of multiple streams of income [03:28] The need for safety and diversification in income streams [14:01] Balancing intuition and practicality when quitting a job. [23:06] The power of e-commerce and social media in business. [24:00] Transitioning to real estate as a stream of income. [29:23] Buying properties with no money down. [32:39] Dealing with highly motivated sellers and tenants. [36:15] Buying two homes sight unseen with no money down [40:34] Finding tax liens through county listings [44:13] Focusing on three projects at a time [49:06] Mindvalley Financial Freedom Summit [50:06] Importance of passive income in uncertain times Where to find our guest: RobertAllen.com Instagram Multiple Streams of Income Memorable Quotes: "Everybody needs multiple streams because of safety. You need multiple. Just like everybody tells you, you need diversify in your stock market, you need to diversify your streams of income." [4:47] -Robert G. Allen "Three to 6% of the time when you buy a tax lien certificate, the person defaults on the home. They couldn't pay their taxes in there. They can't pay their mortgages and they lose the house." [39:48] -Robert G. Allen Resources mentioned: Mindvalley Financial Freedom Summit 2023 To stay connected and to learn more about Vishen and Mindvalley, click on the links below: Website: Mindvalley.com YouTube: @vishenlakhiani Instagram: @mindvalley Instagram: @vishen Facebook: @mindvalley Subscribe to 'Mindvalley Membership' to discover 65+ transformational Mindvalley programs – at a surprisingly low annual fee here 👉 https://go.mindvalley.com/NOW Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi, everyone. Before we get started with this episode of The Mind Valley Show,
0:03.7	I wanted to give you a quick update. Our guest today is Robert Allen, the famous author
0:08.4	of the No Money Down series of books on how to make money through real estate.
0:12.9	Now, shortly after recording this episode, I got to know Robert. We did a trip together,
0:17.7	and I got to really understand this man's mind and his work and it fascinated me.
0:22.0	And so I wanted to bring Robert Allen onto the Mind Valley stage, and therefore,
0:26.0	Mind Valley is going to be putting together an incredible event in London called the Financial
0:30.6	Freedom Summit. It's happening November 17 to 19. Robert Allen is one of the many speakers
0:36.4	we're going to have. And if you're interested in learning how to earn money through real estate,
0:41.9	you need to be there. So for now, bookmark this link, mindvalley.com forward slash London,
0:48.0	mourn it at the end of the podcast. And the meanwhile, enjoy this mind expanding into you
0:53.5	with Robert Allen. After I graduated from university, there were two books that I happened to
0:59.3	stumble upon that changed the trajectory of my life. The first was The Cash Flow Quadrant
1:05.2	by Robert Kiyosaki. The second was by Robert Allen. And it was called Multiple Streams of Income.
1:12.6	Now, both these books got me thinking about life in a different way. You see, like most of us,
1:17.6	when I went through traditional education, I was trained to be the best programmer I could be.
1:22.6	But if I was just programming and only doing that, I would never truly get wealthy.
1:28.8	That book inspired me to start a business on the side as a side hustle in addition to my regular job.
1:36.3	I would come back from the office at six or seven p.m. in New York and start building a little
1:42.2	e-commerce store to sell meditation CDs. And in the first month, I lost 800 bucks. The second
1:49.3	month, I lost 300 bucks. But that, but a third month out, I was making four dollars a day in profit.
1:55.8	But that profit continued to steamroll. And it continued to grow bigger and bigger and bigger.
	...

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