June 17, 2025 • 45 mins
Join Me In Denver for our 2-day Mastermind: https://masterpassiveincome.com/mastermind
Follow me on IG https://instagram.com/thedustinheiner
Get my new real estate investing software free: incomebuilder.io
Get the FREE Course: https://masterpassiveincome.com/freecourse
Get the 1-on-1 coaching FREE strategy call here: https://masterpassiveincome.com/bookacall
//BEST REAL ESTATE INVESTING RESOURCE LINKS
Start your LLC for only FREE! https://masterpassiveincome.com/formanllc
Great High Interest Savings Account: https://masterpassiveincome.com/cit
Get your business bank account here: https://masterpassiveincome.com/baselane
Get your business credit card with 2% Cash Back with NO FEE! https://masterpassiveincome.com/amex
https://www.sidehustlenation.com/
In a riveting exploration of financial autonomy, the episode presents a compelling argument for the necessity of side hustles in achieving true financial independence through real estate investment. The conversation between Dustin Heiner and Nick Loper illuminates the transformative potential of entrepreneurial ventures that extend beyond conventional employment. Through personal anecdotes and expert insights, Heiner recounts his experiences at a high-stakes mastermind retreat, illustrating how such environments cultivate growth and learning. Loper articulates the essence of a side hustle as an avenue for generating revenue that can ultimately surpass traditional job earnings, emphasizing the entrepreneurial spirit that drives successful individuals. Throughout the episode, listeners are implored to consider the myriad possibilities that exist outside their current financial landscapes, with a clear message: the path to financial independence is paved with ingenuity, perseverance, and a willingness to embrace risk. The episode serves not only as a guide for aspiring investors but as a motivational call to action for anyone seeking to redefine their financial destiny.
Takeaways:
- The Master Passive Income Podcast emphasizes the necessity of creating multiple income streams to achieve financial independence and generational wealth.
- The importance of networking and learning from experienced individuals in masterminds is highlighted as a catalyst for personal and professional growth.
- Investing in real estate is presented as a viable means to escape the traditional employment cycle and attain financial freedom.
- The potential of side hustles is discussed as a way to supplement income, particularly in the context of investing in real estate.
financial independence, generational wealth, real estate investing, side hustles, passive income, online business, mastermind groups, income streams, quit your job, financial freedom, creating wealth, investing strategies, entrepreneurial mindset, networking for success, business growth, tax write-offs, real estate coaching, building assets, wealth building strategies, financial education
Links...
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Foreign.
You're listening to the MasterPassive Income Podcast Network.
Welcome to the Master PassiveIncome Show.
My name is Dustin Heiner, andI'm here to help you get financial
independence, creategenerational wealth so you could
pass it on to your childrenand never work a job again by investing
in real estate.
And in today's show, we'regoing to be talking to an expert
(00:22):
at side hustles.
We know it takes money toinvest in real estate.
We, we can use other people'smoney, but how much better also if
you have a way to create a newincome stream so that you can invest
in real estate.
And he's going to show us howwe can create side hustles that make
us money while we sleep as well.
All right, let's start the show.
(00:48):
Welcome to the Master PassiveIncome podcast where we talk about
investing in real estate witha special, special focus on making
enough money so you can quityour job and live the dream life.
And now here is your host,Dustin Heiner.
(01:09):
What's up?
What's up?
Super blessed as always tohave you here with me on the show.
Now, I gotta tell you, whenyou are around amazing people who
are doing what you want to doand even doing it better than yourself,
you just have to grow.
If you don't grow, you'reprobably just sleeping.
And so what I just did, I wentto Cancun for a week.
(01:31):
We got, I left on Sunday, gotthere on Sunday, it was an all inclusive
place, and left on Saturday.
But entire week, it was anamazing mastermind of other online
business owners.
You know, master passiveincomes, online business, podcasting,
YouTubing, coaching.
It's basically just a way toreach people online instead of having
a brick and mortar place.
(01:52):
Well, I went to this mastermind.
Now, First, I spent $50,000just to be a part of this mastermind.
And I kid you not, in thefirst two events that I've been to,
it's paid for itself.
Like, I've just been so blownaway at the amazing people that I've
met and the knowledge thatI've talked to and learned people
I talk to and the knowledgethat I've gained from, from talking
(02:13):
to these amazing, amazing people.
Now when you go to aconference, a conference, you might
get one or two gold nuggetsthat you're like, wow, that was so
good.
This was worth the trip to the conference.
Or this one connection.
Or that connection.
Well, at a mastermind, theseare people who are at even higher
level and they are so muchmore serious about their craft, about
(02:35):
their business that they do.
So people who are serious,they, they go to conferences, but
if they're even more serious,they go to masterminds or they become
a part of the mastermind.
So I spent $50,000 to be apart of this mastermind and then
I spent another.
I think it was like $6,500 togo to Cancun for this all inclusive
place.
Now if you want to check outsome of the fun things I did, like
doing a gainer, which is afront facing backflip off of a cliff.
(02:59):
It's not really that high of acliff, maybe 20ft, but you know,
doing a gainer off of that.
Being at this amazing place, Iposted some things on Instagram or
Facebook.
You could check it out,YouTube, you can find me the Dustin
Heiner at Instagram, give me afollow on there, send me a dm.
But you can see all the funthat I had there.
But it's not just the fun.
Well, here's the great thing.
It was a tax write off.
(03:19):
It was an amazing tax write off.
Being able to go to an allinclusive place, but every penny
of it was a tax write off.
Cause it was a business expense.
And that $50,000 that I paidto be a part of the mastermind, that's
a tax write off.
And I've grown and I make more money.
And in general because of themastermind, on top of that paying
(03:39):
for this expense to go toCancun, that expense is another tax
write off.
So last week I talked aboutthe mastermind that we're putting
on.
I'm putting on with me as wellas other amazing real estate investors.
We're almost sold out.
We only have a couple spots left.
It's going to be in DenverSeptember 19th through the 22nd.
(04:00):
And it's going to be a small,intimate group.
And you guys know, if you'velistened to this podcast very long,
you know I don't do any one onone coaching.
I don't do one on one coachingbecause I just don't have the time.
I have a family and I lovedoing that.
But we know we got a coach.
So we have three coaches now.
Jeremy Pusey is a brand newCoach, Charles Rose Jr.
As well as the William Palmerand we also have a multifamily coach.
(04:23):
Our fourth coach is CharlesSeaman, but we have all these one
on one coaches that coach people.
Well, if you want to get onewith me and be two days at a retreat
with me as well as otheramazing real estate investors, Charles
Rose Jr.
Will be there as probably theother coaches will be there too.
We're going to bemasterminding together for two and
a half days.
(04:43):
Two, two and a half days.
And we're going to be havingsuch an amazing time, a lot of growth,
but you need to be in the room.
The reason why I paid $50,000because I wanted to be in the room
with, with these amazing people.
Now you're gonna grow withspending one of two different things.
You can grow in life and inbusiness and your real estate investing
(05:05):
with your time, spending yourtime day in and day out, working,
connecting with people.
And honestly, that's what Idid back in 2006.
I started investing in realestate, started buying property after
property, making lots ofmistakes, not even knowing who to
talk to and just doing it onmy own.
Well, it took me about eightto nine years and eventually right
before my 10th year, I quit myjob, which was very, very blessed.
(05:27):
Now if I would have gotcoaching number one, that would accelerate
it and got it faster.
But then if I would have gotin the right room and accelerate
even faster than that.
So remember, you're going topay with either one of two ways,
your time or your money.
That's the second thing Iforgot to tell you.
You're going to pay with your money.
You can pay with your moneyand accelerate the time and get around
the right people.
(05:48):
Here's, here's another thought.
I'm in a right room withpeople because I just built the Income
builder software.
My, one of my students, Juan,is a fantastic programmer and we're
creating the software that isright now it's free.
So if you want to.
I'll put the link in the description.
If you want to get your freeaccount, it helps you to analyze
properties.
We're currently developing howto find properties off market properties,
(06:10):
send mail call and all thatsort of stuff.
And we're developing thisentire process.
But you can get a free app,access to it.
Right now, go to IncomeBuilderIE and create your own account.
You'll get it for free, you'llget access to it.
But at this Mastermind, Ispent $50,000 to be a part of and
another $6,500 to go to Cancun.
I made some amazingconnections that these people have
(06:32):
in their Rolodex, other peoplethat would potentially be able to
use and have their students,other coaches have other students
use the, the software.
And what I'm trying to say isyou can exponentially grow in instead
of going 10 years to be ableto quit your job hopefully in six,
four, three, maybe even twoyears because you are in the right
(06:55):
room and I want you to not dowhat I did.
I paid with my time.
I worked an extra five yearsat my job because I didn't know what
I was doing.
I wasn't connecting with otherpeople, I wasn't networking.
But I have now so manystudents in four and five years quitting
their job, becomingfinancially independent because they're
in the right room.
And this is a way, you don'thave to be a student to be a part
(07:17):
of this mastermind, but you dohave to have the ability to grow
and the desire to grow.
Well, check the link in the description.
If you go tomasterpassiveincome.com mastermind
it will send you to the most current.
So next year when you do another.
Mastermind, it'll update to that.
So always go tomasterpassiveincome.com mastermind
(07:38):
and you'll see the detailswhere we're staying at.
Downtown Denver, Colorado.
Amazing hotel.
The Brown Palace Hotel is sucha beautiful, amazing old hotel.
I mean, like, I think ElvisPresley stayed here, there, the Beatles,
many presidents.
Like, it's an old historichotel and it's super awesome.
But then you also get to bewith me for two days, like almost
(07:59):
one on one.
It might be, I think it's like10 to 12 spots.
And so we're almost sold out.
So go secure your spot right now.
In fact, just today I got DMed.
By somebody on Instagramsaying, hey, Dustin.
I really want to be a part ofthe Mastermind.
How do I join?
So I sent it over to him.
But this is for you too.
This is for you.
If you are wanting to scale upyour business, if you want to get
(08:20):
around the right people whoare currently investing, if you want
to get around me.
Like, I even had somebody say,hey, Dustin, is this actually going
to be like coaching?
Like, well, you have my time.
Of course I'm going to be there.
Let's do it.
Let's get you to the next step.
And that's what that man,that's what master passive income
is all about.
That's what the mastermind isall about.
And this is my goal.
(08:41):
And honestly, I'm gonna sayone, one last thing.
So I may not do very many moremasterminds because it's a lot of
time and effort and there'sonly, let's say 10 or 15 people there
when my goal is to help amillion people.
So I might have to stop doingthese masterminds.
So, so that I can then starthelping many more people like, you
(09:02):
know, get on big stages andteaching lots, like thousands of
people instead of like 10 to12 or 15.
So I might not do these anymore.
So you need to be in the rightroom with right people.
Go to masterpassiveincome.commastermind and you will be able to
get with me and other amazinginvestors now in today's show.
I'm super pumped to be sharingwith you.
A friend of mine, he has anamazing podcast called called the
(09:25):
side Hustle show and he has acommunity, the side Hustle Nation
community on Facebook.
He is on a mission to helppeople get side create side hustles
so that they can make money toget financially independent.
Whereas we as real estateinvestors, business owners, what
we want to do is have thatside hustle because if we have extra
time, let's use a side hustleto make money so we can buy more
(09:47):
investments and become moreand more wealthy.
I have a good friend of mineand you definitely need to check
out his podcast, his YouTubechannel, the side Hustle Show.
I have a good friend of mine,Nick Loper, on the show.
He's going to show us how wecan create the best side hustles
to make us more money toinvest in real estate.
All right, here we go.
Nick, thank you so much forbeing here, man.
Dustin, grateful to, to behere to hang out, to geek out on
(10:10):
all these different moneymaking ideas and creative side hustles.
I, I love that.
Well, a couple things.
You're frugal just like I am.
You do side hustles just likeI am.
You podcast just like we haveso many commonalities which is so
much fun.
And then we ski too.
And that was a, that was a funthing we learned in 2020, right before
COVID we went skiing at a, youknow, an event, at a fincon event,
(10:33):
Mastermind type thing.
And it was so fun becausehonestly, like, I'm not a fantastic
skier, but I'm pretty good.
And most people can't keep upbecause, you know, they're just,
you know, they don't ski, theydidn't ski their entire life.
And then I hear, I see youpass me, I'm like, oh, dang, this
is great.
Yeah, it was great.
Yeah, we're like, let's go.
We hung out all weekend, so great.
Well, Nick, this is the ideaof having another way to make money
(10:58):
as.
Opposed to your job, which I love.
Calling your J O B becauseyou're living just over broke working
that just over broke job.
And then you're investing inreal estate.
But there are other ways tomake money.
That's not going to take a tonof time, but it'll help you in your
endeavors to be financially independent.
Talk to me a little bit aboutyour idea.
Like, what does side hustle mean?
(11:19):
Yeah, well, broadly speaking,side hustle is anything you're doing
to make extra money outside ofyour traditional day job.
And I would bucket real estateunder that umbrella.
Absolutely.
Where it differs frommoonlighting or getting a second
job or delivering pizzas orbartending on the weekends is this
connotation of there's anentrepreneurial upside.
(11:40):
There's this implication thatyour side hustle has the chance to
scale up, to be beyond tradingtime for money.
And maybe it's the thing thatultimately replaces the day job down
line.
And not everybody wants to gothat path.
Not every people, like, I'mhappy with my job.
I just want to use my freetime more effectively, more creatively,
more productively.
And that's fine.
They're happy with, you know,whatever, whatever they can build
(12:02):
on the side.
Other people are like, get meout of this cubicle as fast as humanly
possible.
I totally, that's.
Well, that's how I was.
I was like, get me out of thiscubicle as fast as I.
I was buying things at storeslike I remember Ace hardware or auto
parts store and selling themon ebay because I saw them, they
were discounted clearance.
(12:23):
I would sell.
I do anything to make extramoney to invest in real estate.
And I just knew that the moremoney that I make, the more I could
invest in real estate to buymore real estate.
And then at the same time, Istarted businesses.
Now talk to me a little bit about.
Because when I.
Everybody has differentconnotations or understanding of
(12:43):
what something means.
So side hustle, they thinkmaybe a lot more work.
Are there any side hustlesthat aren't a ton of work but then
have a good reward?
Like if you could boil yourbrain down, like you've, you've done
thousands of interviews ofdifferent entrepreneurs.
What are some of the key onesthat you've seen?
Take less time but make more money.
(13:05):
Yeah, this is, I mean, this isthe million dollar question, right?
And actually just had PatFlynn from Smart Passive Income on
the show when we went through10 different, know, popular passive
income ideas, quote, unquote,passive income ideas to get his take.
Well, what's your rating?
How would you grade these?
And some of the ones that kindof had maybe the common themes were
what are the things that I canset up in such a way that they can
(13:28):
run more or less on autopilotand nothing is going to be completely
passive.
There's going to bemaintenance and upkeep and customer
support and stuff required.
But he gave the example of isPokemon YouTube channel, right?
He's like stuff that Iuploaded two years ago is still racking
up views.
He said if I stopped uploadingtoday, yeah, it would be this kind
of long, slow decline, but itwould probably still be a five figure
(13:51):
monthly income for at least acouple years.
Just based on the.
The back catalog, the archive.
So you're looking atbusinesses where you create this
asset once and largely.
I deal with like digitalassets, you know, articles, podcast
episodes, YouTube videos,digital products.
Whereas I create the thingonce and sell it over and over and
over again.
Software would be in the same bucket.
We talked about his like Fusebox or smart podcast player, little
(14:14):
website plugin that I've beenpaying for for years.
So I know it's relativelypassive because at least has recurring
revenue.
So looking at some of thosetypes of models for you're trying
to set something up thatdoesn't require client communication
and client work on an ongoingweekly and monthly basis.
(14:34):
And I want to pause for just aquick second and say thank you so
much for listening to the show.
If you've gotten anything outof the show, I would appreciate it
if you went to anywhere thatyou listened to, let's say Apple
or Spotify or wherever andleave a five star review.
Honestly, I really appreciateyou leaving an honest review.
I just love giving all thisinformation out and I want to see
you succeed.
Also send this to one person.
(14:55):
Just tell one person, say,hey, Dustin wants to help a million
people to invest in real estate.
You need to listen to thisbecause it's going to change your
life.
Lastly, get my real estateinvestment course completely for
free.
Text the word rental R E N T Al rental to 33777 rental to 33777.
I'll literally give you mycourse showing you everything in
(15:17):
the business so that you canbecome financially independent.
So you've got lots and lots ofcontent out there.
I mean you've been doing itfor a barrel.
2015 I think you started.
Yeah, even before that.
Dang, that's a long time.
And so creating content.
You have that much content outthere with your podcast, you know.
Well, how many episodes areyou now on the side Hustle show?
(15:39):
We're at like 6:70 or so.
675 was, was the episode withPat 675.
That's so much content out there.
And what I love about thecontent is it's evergreen.
Like you just said, people cansearch for it and they could find
it and they can download it,they can watch it, they can go back
and binge everything.
(15:59):
As opposed to, let's say youhad a business where you did Facebook
ads or YouTube ads, where youplace the ad in front of somebody
one time and then it's gone.
So that money spent is notthere anymore, or that their content
that you created, it's onlythere when it's paid for.
And that organic content thatyou put out there, like a YouTube
channel, that YouTube channel,like you said, the Pokemon channel,
(16:21):
like Pat Flynn has, or theside hustle show, or like Master
Passive Income, I get peoplewatching those back videos all the
time.
One of the funniest ones, ormaybe one example that you might
even be able to take from yourday job is what I just call tutorial
YouTube, where it's like, hey,I had this problem, I figured out
how to solve it and I recordedthe video on how to solve it in the
(16:43):
example.
I just looked this up theother day.
It was like, how, how do Ikeep Dropbox from like storing files
on my local hard drive?
Right?
It was like, this is supposedto be cloud storage.
I don't want it on my computer anymore.
And we figured out how tosolve it.
It's like a one minute long video.
And over the course of nine orten years that this video has been
uploaded, it's just likelooking in the YouTube analytics,
(17:03):
it's made over a thousand dollars.
It's like, dang, I shouldhave, you know, I should make more
of those.
It's just like, you know,answering people's questions because
YouTube is by and large asearch engine, but it does have that
kind of viral recommendationengine element to it as well, where
if you're making, you know,Pokemon binder collection, you know,
risky stuff that he's doing,but that stuff can really hit the
(17:27):
viral lottery too.
What other types of sidehustles can.
Can you think of that?
Let's say somebody's working aregular job, you know, nine to five
or eight to five, Mondaythrough Friday, and they want to
start making some extra moneyto help pay for bills, but then also
help save, maybe get him outof debt, but also save for investing.
Is there any other sidehustles that you could think of that
(17:47):
would be probably scratch thator mark check that marks that would
help them to start making more money?
Yeah.
What's Interesting is eventhough you're already trading time
for money at your day job,most more side hustle show guests
started with a service basedbusiness than any other.
And I think the reason forthat is it's low overhead.
(18:08):
You have almost no startupcosts in terms of inventory or equipment
or you know, building anaudience, which you know, could take
months or years, or building aproduct you can get started right
away.
Find one client, you figureout how to solve their problem, and
you're kind of off to the races.
Now from there is where itgets interesting because you're like,
well do, do I really want tospend my nights and weekends doing
(18:32):
this?
Is there a way to removemyself from that equation?
Is there a way to build kindof like.
And some people go down theagency model like, well, if I find
other people, if I don't findmyself in that freelancer's trap
of selling my own skills,instead I'm selling a result to the
client.
I go find other people who candeliver that result and take a margin
in the middle.
We've seen people do this withgraphic design, web design, cleaning
(18:54):
services, window washing, youknow, pretty much anything, you name
it.
You can find somebody else whoknows how to do that thing and be
the marketer and administratorof that and all of a sudden you're
no longer selling your own time.
You mentioned the, the productflipping type of business, the ebay
arbitrage type of business,the garage sailing.
We've seen some people do somereally cool stuff with consignment
(19:15):
events because like, well, ata certain point I run out of inventory
on the clearance, I elevase hardware.
And we've seen people go outand host these big consignment events
for furniture, for clothing.
And they said what reallyworks best is like limited time sale,
right?
You can try and gather up allthis stuff, but you could do it on
a smaller scale just aroundyour neighborhood, like, hey, spring
(19:36):
cleaning time.
Do you have anything you wantto get rid of?
I'll sell it for you, we'llsplit the proceeds, you know, name
your name, your floor price,whatever you don't want to, you know,
you wouldn't, you wouldn't letit go for any less than that.
But then otherwise, you know,I'll, I'll help you flip it.
I'll deal with the, the tirekickers on Facebook Marketplace,
or I'll deal with the ebaypeople and get, get started that
way.
Those are, those are greatideas, especially like a service
(19:58):
based business.
I'll give you example.
My boys mowed our Front lawn.
And then our lawn next to ourneighbor, like, butts together.
And so my boys were just cool,really nice, and they just mowed
it.
They mowed the neighbor'slawn, and neighbor gave him, like,
15 bucks just because.
As a tip.
Because they weren't eventrying to charge.
Yeah.
Now they got an idea like, oh,we can create a business.
(20:19):
Do that.
We can create it.
We can put people on, like, amonthly service fee, and we could
mow it once a week.
And so they're starting thatbusiness, which is great.
And get those gears turning.
Exactly.
Now, you've also written a fewbooks, and I love the books, but
I don't want to go with the books.
Meaning I want to, like, deepdown, think of what are the characteristics
(20:43):
of successful side hustlepeople that you come across?
Because you've.
You've interviewed 600 plus,you know, you've done.
You've seen so many differentside hustles, and there's probably
some commonality, eitherpersonality traits or drive or whatever
it might be like.
Can you boil down, like, whathelps a side hustle expert to actually
make a really good living at it?
(21:05):
The first is this willingnessto take action, even if you don't
know steps two through 10,even if you're not fully convinced
that this is going to be theright idea.
It's like this idea thatchoosing what's next doesn't have
to mean choosing what'sforever, but there's this.
There's some entrepreneurialphysics at work.
Right.
Like, where a side hustler inmotion tends to stay in motion.
(21:26):
But similarly, you know, anentrepreneur at rest or a podcast
listener at rest tends to stayat rest until acted upon by another
force.
And that force has got to comefrom inside.
Like, there's got to be someintrinsic motivation of why do you
want this?
Sure, we want to make extramoney, but why do you want the extra
money?
And then you got to go, youknow, what's the rule?
Five, why's deep?
What is that really going toafford you?
(21:47):
Because it's hard.
And if you do it for twoweeks, it's kind of like New Year's
resolution.
I did it for two weeks.
I didn't see the results thatI wanted.
Now it's hard, and I'm goingto go back to my old ways.
So you got to have thisreally, really driving why behind
it to see what's going on,this willingness to take action and
this willingness to figure it out.
Like, Brian Harris has thisold video.
(22:08):
Like, this is your number onejob as an entrepreneur is like chief
figure outerer.
And it's like you're, you'realways going to run into kind of
the ceiling of your ownabilities and the ceiling of your
own comfort.
And then you kind of are facedwith that question like, well, do
I shrink back from that or doI figure it out?
I'm going to have to figure itout as I go along.
(22:28):
The figuring it out issomething that anybody who is going
to be a business owner,especially real estate investor.
Real estate investors.
We're business owners.
Our inventory that we own isreal estate.
And so that's what we own.
And when you figure thingsout, because.
You'Re going to have, do you consider.
It like a product business then?
100.
Absolutely.
It is one.
(22:49):
Rather than like a rental service.
Correct.
It's a product that myproduct, my property is what does
the work for me.
And then I hire other peoplethat make sure that that product
is actually doing work.
Yeah.
One thing that we found isbasically three ways to escape the
rat race.
And then our mutual friend,Kellen Klein kind of breaks this
(23:10):
down like traditional savingsin retirement.
Paper assets, stocks, bonds,mutual funds, index funds.
Right.
That's like, that's thetraditional path.
Amass this big enough nest eggand hopefully live off dividends,
interest, appreciation for,for perpetuity.
He says, you know, for mostpeople with the dedicated, you know,
and pretty high savings rate,this is going to take 20 to 30 years.
(23:32):
Right.
That's path number one.
Path number two is Dustin'spath, the real estate path.
How can we use a little more leverage?
How can we buy these assets,these cash flowing assets, these
appreciating assets, these taxbeneficial assets, and replace our
day job income with that timeof cash flow.
And if you're dedicated anddiligent, Maybe that takes 10 years
(23:53):
of building your portfolio,building enough doors, build enough
cash flow that way.
The third path is thisentrepreneurial pathway.
Probably the riskiest, maybeif you look at it in a certain way.
But I think it's got thebiggest upside because it's like
you create something, you haveownership equity in.
Every dollar that you add toyour bottom line on a monthly basis
is also 2 to 3x increasing thevalue of that asset in terms of its
(24:16):
equity value in terms ofpotentially selling that business
down the road.
And maybe that's, you know, afive to ten year process of getting
something started, getting itoff the ground and building it to
the point, even if it startsas a side hustle, building it to
the point where that replacesthe salary and affords a pretty comfortable
financially independent life.
(24:38):
Yeah, I love that.
And my perspective is thatanything that you're going to do
that's not working a job,working for somebody else, you need
to have it as a perspectivethat it's a business that you have.
Now my real estate investingis a business that I own real estate
and that real estate makes memoney every single month.
Just like if I had any business.
I don't go into business tolose money.
Whenever I buy and sell acandy bar, I don't want to lose money,
(25:00):
I want to make sure I makemoney every single month.
So same thing.
What I love is that if you arenot working a job, you need to figure
out what type of business canI build.
Because when you invest inreal estate, you buy real estate
and then that real estate isyour business, then hopefully you
become financially independentand then you have 40 plus hours of
your life back to then I thinkyou should build more businesses,
(25:21):
other businesses.
Now the flip side to that too,let's say you're a side hustle expert
and you do really, really welland and your side hustle becomes
your full time business andyou're like man, I can quit my job.
Well, you start making more money.
When you have a good business,you're going to be making more and
more money.
Then you have to figure outhow to protect that from irs, from
Uncle Sam taking it from youand then you put it in real estate
(25:43):
and you've invested in some ofmy deals and it's so terrific being
able to invest together.
But a business owner shouldinvest in real estate and then a
real estate investor shouldstart businesses.
At least that's my perspective.
Yeah, you think about thatcash flow quadrant going back a long
ways to the rich dad, poor dad.
And I found myself kind of onthe maybe the self employed side
(26:05):
where it's like if I stopworking, it lasts for a little while
but doesn't take long beforesomething breaks.
A guest called it the laptoptest, as in after you close your
laptop, how long does thisincome really last?
It was kind of an eye openingexercise and Austin Netsley calls
it the two week vacation test.
Right.
(26:26):
It's a good way to kind ofstress test your business and your
team.
Like how well is this reallysystemized to run without you?
Like where you find whichbottlenecks really, really kind of
pop up but trying totransition more to that business
owner and investor side wheresystems are working for you and your
money's working for you instead.
So personal question and youcould dodge it.
(26:47):
If you want.
Are you at that phase where.
Because, I mean, if you don'tput out shows, eventually it might
dry up.
Have you been able to getother businesses, other investments?
Is that something that you've done?
Yeah, we've got a prettyhealthy dividend portfolio where
the cash flow coming from thatis actually more than my, like, initial
corporate salary.
And it's like, hey, that'skind of a cool milestone.
(27:09):
Took 20 years to get there, oralmost 20 years to get there.
But it was.
We saw that on the.
On the tax return this year,which was kind of fun, fun little
milestone.
And we're kind of in the pointof coast fire or financial independence,
where it's like, if it.
If it dried up tomorrow, ifyou suddenly got sick of would be
fine.
Like, it would be okay.
(27:30):
But I find that doing the showhas become almost part of my identity,
where it's like, hey, everyThursday we got to kind of come up
with some compelling radio to share.
And it's, um, really cool tobe able to get paid to do that.
Oh, totally.
Podcasting's fun.
I just love podcasting.
It's, it's.
It.
It's the flagship for MasterPassive Income.
Is.
Is the podcast.
(27:51):
And that's where most peoplefind me now.
I got a question for you.
So you're frugal like me aswell as you save money?
I save and invest probablyabout 90% of all the money that I
make from my businesses to myreal estate.
It all goes back into real estate.
I keep investing it.
Do you.
Have you thought through?
Because, you know, when you'refirst getting started, you're thinking,
(28:12):
oh, I got to save 5%, I got tosave 10%.
Have you thought through?
Because you're pretty frugallike I am.
Yeah, we never really lookedat it, you know, from a 5 or 10%
standpoint, but we did look atit from kind of like a household
profitability or personalprofitability standpoint, which is.
It's kind of mind blowing, andmaybe it shouldn't be surprising,
(28:34):
but, like, on your.
On your 1040, it'll say,what's your adjusted gross income?
Modified adjusted gross income.
All of that is great, but thenumber that's really, really important
is how profitable were you asa household?
And it's like, it doesn'treally matter what you make.
If you spent 90% of it, you'regoing nowhere.
(28:54):
So you got to figure out, howdo you live with more margin.
And this is kind of theimpetus of the whole side hustle
show thing.
It's like of course, livefrugally, spend intentionally, you
know, invest where you get themost value.
Sure.
But at a certain point there'sonly so much you can cut.
Right.
You still got to eat, youstill need somewhere to live, you
(29:15):
still need a car to get youwhere you need to go.
But the revenue side of theequation is limitless and it's a
lot more fun to work on that than.
Rather than clipping couponsand trying to figure out how to live
as cheaply as possible.
Yeah, you can only cut so muchbefore there's nothing.
It's like a race to the bottomand you don't want to do that.
I find that when you haveproblems, it like money doesn't like
(29:36):
solve everything, but itsolves a lot of problems when it's
like mortgage payments orwhatever it might be.
Yeah.
What's the Ryan Holiday line like?
If you got a problem thatmoney can solve, you don't have a
problem.
That's easy.
Easy to say if you got moneyto solve the problem.
But like is the example, likeour garage door broke the other day
and it's like one of the bigold like lift springs is busted and
(30:00):
it's like, that's notsomething I know how to do myself.
So you could call the repairguy and there's, you know, boom,
thousand dollars out the door.
And so it's like the, theextra margin in your life gives you
the.
I mean, I don't know if it'sever like comfortable, but you know,
it's not going to, you're notgoing to have to choose between fixing
the garage door or buying groceries.
You know, it's like just alittle bit of financial breathing
(30:23):
room can really, really go along way towards, towards mental
health and just kind of youroverall well being now.
And I've heard, and this isjust anecdotal from other people
stating that they're like the most.
One of the most like biggestreasons for people to get divorced
is financial issues, which Icould definitely say.
(30:43):
I mean it just puts a strainon the marriage, puts a strain on
the relationship.
And so you can have that whereyou don't have to think about the
finances and make it so thatit comes in without you having to
stress.
I mean, when you don't have toworry about a mortgage, oh my goodness.
Like I remember when thatfirst happened, I was like, what?
This is amazing.
Back in 2013, 2014, I was likejust scrimping and saving just to
(31:07):
pay the mortgage.
And now looking back now Ihave so lots and Lots of properties
free and clear now and I don'thave to think about the mortgage
or bills.
I mean, that's just so freeing.
With then you can then focuson the most important things in life.
Do you reach a point whereyou're like, I don't need any more
doors.
I, you know, am I adding morecomplexity to my life by building
(31:31):
this empire?
You know, I'm going to go to200 doors, I'm going to go to a thousand
doors.
You're like, you know, withevery jump up is another level of
complexity and management.
Fantastic question.
And so right now I'm at a newpoint where I have 30 plus properties
for myself.
(31:51):
And the apartment complexesyou invested in, invest in some hotels,
syndication.
But as far as like let's saysingle family homes, my bread and
butter right now may actuallysay about a year ago I was like,
okay, I'm set.
I don't really need that many more.
It'd be great.
I'll buy one here and there.
But now I've been blessed tonow take the focus off myself.
(32:12):
Now I'm focusing on my kids.
Now my oldest daughter, who's16 now, she bought her first property
three months ago.
Now obviously I coached herjust like I coached everybody else.
Yeah.
And she used her savings.
We got the property.
It's making, I think, $300 amonth in passive income.
And I said, I'm going to helpyou do this, but you have to commit
to not spending any of thatmoney so you can snowball it into
(32:35):
the next property.
And then let's say 10 yearsfrom now, you're going to have 10
properties, hopefully, Lord willing.
And then you're going to have,let's say, five, $10,000 a month
of passive income.
And so every single one of mykids, it's now on me, like I'm putting
it on myself.
I need more so I can have themhave their own business that they've
built with me.
Yeah, yeah.
(32:55):
And that's super cool.
To set them up for financialindependence in their 20s.
Like, that's awesome.
It's so.
It is, it is.
It's encouraging when they getexcited about it because they've
seen me talk about it forever,they've listened to the podcast ever
since they've been born, allthat sort of stuff.
And so now having them excitedabout it.
(33:15):
And one quick thing, likethey're excited about real estate
investing, but they were.
Saying, well, how do we make more.
Money, dad, so we could buymore properties faster?
And so now with master passiveIncome, we Have seven total shows,
seven other hosts that areunderneath the master passive income
Podcast network.
And so I hire somebody else inthe Philippines to edit the podcasts.
I'm paying them.
And I thought literally justyesterday, why my kids edit my podcast?
(33:39):
Why don't I just pay my kidsinstead of this other person to edit.
The podcast for them?
Yeah, exactly.
And so they all said, yes, we're.
Going to do it.
So let's take turns like oncea month, handle all the podcasts
and then the next person.
The next person.
But it's.
Do we then pass on what wehave, knowledge and property, or,
(34:00):
you know, like the, thetangible things that we have, but
set them up for success.
Yeah.
That's really cool.
Your kids are.
Have they been able.
They're.
They're under 10, right?
I.
Yeah, we got nine and seven.
Got it.
So hopefully pretty soon youcan have.
Have them starting to turn.
Like, how.
How are we going to make some money?
(34:20):
They want to go sell likepopsicles and root beer floats at
the pool this summer.
It's like, yeah, we'llencourage this.
And they want to make, youknow, YouTube videos.
And because they watch like,dude, perfect.
And my kids do too.
And after 10 minutes offilming, there's like this, this
light bulb goes off.
Like, there's a newappreciation for the production quality
(34:43):
for like how many, how manytakes it must have.
Take it to like land thattrick shot and do this stuff.
And it's like, I love thatyou're thinking, I want to be a creator,
not just a consumer.
And.
But you see there, there'sactual work that goes into.
It's not as easy as they makeit look.
Totally.
My kids love.
They love watch on all that stuff.
And then the thinking ofpassing things on to them and building
(35:08):
them up, that was somethingthat really, about a year or two
ago, it was something like,how do I get them doing what I'm
doing?
Investing in real estate,number one, but also hopefully grow
them.
I got three other businessesthat they can hopefully eventually
take over.
So I'm building them up andgetting them doing their own side
hustles.
Like, like my boys doing thelawn mowing.
Like, I want them to have thatdrive, that internal drive.
(35:31):
I'm saying, hey, if you'regoing to do this, you're going to
go on your own.
Same thing, like driving.
Like, my daughter's 16.
She hasn't gotten her license yet.
I'm not, I'm not going to get.
Your license for you.
I'm not going to do the research.
I'm not.
You gotta make sure you do allthat stuff.
And she's like, I want to do it.
Like, then get your butt upand do it.
Yeah, yeah, yeah.
Mom and dad were verymotivated to not be driving me around
(35:53):
anymore.
So they were like, their,their rule was like, you got to get
your Eagle Scout before youget your driver's license.
And then they kind ofrealizing that might be years away,
they.
They gave up on that.
Like, no, no, no, that's fine.
I think I hit it like justbefore turning 18, like, whatever
the deadline is.
Wow.
So you, you became an Eagle Scout?
(36:14):
Yeah, a long time ago.
Dude, that's legit.
That's.
That's, that's hard work.
It was, but it was, you know,kind of a rewarding.
You gotta have something thatyou're shooting for, you know, whether
it's like you sign up for, youknow, a 10K, that's three months
down the road, you know,whether you commit.
Like, I committed myself tospeaking at fincon.
It's like you, you almost needsomething to like, you know, okay,
(36:36):
there's a next milestone orsomething to shoot for.
Are you speaking this year, fincon?
Yeah, I'm talking aboutbuilding your email list.
Oh, shoot.
I'm gonna have to go just tocome watch.
Come heckle me.
Well, are we gonna go skiingthis year?
Hopefully we can plansomething out.
Yeah, it'd be cool.
Be great.
I'd love to.
I'd love to get out skiing.
Like I said earlier, we jumpedbefore we jumped on.
(36:59):
Haven't gone on skiing, butnow before we get off, because I
definitely.
Everybody, you definitely needto check out the side Hustle show.
The podcast.
Definitely.
I mean, you're going to get so many.
If you are thinking, man, Iwant to make more money, but I have
no clue how to do it.
Nick has so many episodes thatif you're just driving to work, just
listen to one, one a day, andyou'll find something that will absolutely
(37:22):
help you to make.
Create a side hustle.
And it might even just replaceyour business or your job, which
would be great.
But with that, Nick, Nick withthe side hustles, if.
If somebody starts getting alittle deterred with life because
life gets in the way, youknow, your kids and then family.
What have you seen throughpast experience yourself or, you
(37:44):
know, listening to other sidehustle people to get past that, when
life starts getting in the way?
Yeah.
So first having that, youknow, driving motivation, that deep
seated.
Why?
And I remember you telling methis story on the show and years
ago about Getting laid offfrom the supposedly secure government
job.
Like, no, never again.
(38:05):
We'll never, never again goingto let this happen.
So having something like thatin your back pocket can, can really
go a long way.
Well, because life gets in the way.
And that's something when lifegets in the way.
Yeah, yeah.
What we have found is if youare dedicated and diligent to making
consistent progress, and itmay not happen every day, but it
(38:27):
should at the very leasthappen every week.
And what we found is peoplehave the most control over the, the
bookends of their days.
First thing in the morning,last thing before bed.
Especially if you're in atraditional job where you're putting
out fires, you're respondingto somebody else's agenda, at least
take half an hour to move yourown agenda forward, to be proactive
about it, because nobody elseis going to do it for you.
(38:50):
And that's kind of the.
Maybe the downside ofentrepreneurship is like, hey, I
want to be my own boss.
I want to call the shots.
But now you got to be your ownboss and call the shots and dictate
where are you going to steerthe ship?
Because I've had stuff thatsits on my to do list for weeks or
months at a time.
It's like, well, come on,dummy, nobody's going to do it for
(39:10):
you.
If it was that important toyou, you're going to have to take
action on it.
So there's definitely bothsides of the entrepreneurial coin.
But the big thing for me whenI was going down this entrepreneurial
route was tv.
Because social media wasn'tnearly as big back then.
What, 2012, 2010, somethinglike that.
Social media wasn't really asbig and so you didn't really scroll
(39:31):
as much.
So that's one.
If you're watching TV a lot,cut that out.
Like, didn't cut out.
Get rid of the tv.
I'm telling you, that's gonnajust, yeah.
Ruin you then scrolling.
Like, how much time do wespend on social media?
Just it's made to addict youto the next thing and the next thing
and next thing.
If you cut that out, I feel.
(39:52):
Like I'm pretty, like prettygood at it.
And then you still get likethe weekly screen time reports and
it's like you spend an hourand a half a day and it's like really
like, dang, that's like nine,ten hours over the course of the
week.
Like, that's not great.
Some of it was work time, you.
Know, but yeah, definitely, yeah.
I've been pushing onInstagram, you know, getting followers.
(40:15):
And so I had to consume it inorder to tell myself I have to consume
in order to get better at it.
But at the same time I findmyself, my goodness, how much time
am I spending on social mediathat I could be spending doing something
else to help more people, toinvest in real estate or build my
family up or whatever like that?
Yeah, yeah, definitely.
You can do this time auditexercise of, well, you know, start
(40:39):
time, stop time, what am Iworking on?
There's a few apps that,that'll do it for you.
I mean, it's still tedious,you could do it in an Excel spreadsheet.
But it's pretty eye opening tosay, well, where did my time really
go?
And then you can kind of havethe honest conversation with yourself.
Because I was for a long timereally, really guilty of saying,
well, I didn't have time, Ididn't have time to do that.
What I've tried to shift is mylanguage and self talk around that
(41:05):
saying, I prioritizedsomething else.
Maybe I prioritized watchingtv, maybe I prioritized hanging out
with the kids.
There's no fault in that.
But like that, having thathonest conversation, I prioritized
something else instead of,well, I didn't have time.
When people say I don't havethe time, it comes down, you don't
make the time.
That's really what you got to do.
And so if you've boiled forme, if I boiled everything down to
(41:26):
what is if to be anentrepreneur, to be a side hustle
person, it's to be intentionaland diligent.
Like you need to intentionallymake yourself do that and then diligently
doing every single day, dayfor giving or forgoing things that
are probably good for thingsthat are going to be great in the
future.
Delayed gratification.
I love the idea of delayed gratification.
(41:48):
And maybe thinking when, ifyou're in that idea of validation
or idea, you know, maybechoosing between three or four different
options, like trying toproject out three or five years down
the road of what does successlook like in this business?
If I give it an honest try, ifI take a swing and put in my best
effort and it works, is thatworth it?
(42:10):
Because you might find, okay,I signed up for DoorDash and now
three to five years, I'm stillmaking my 15, 20 bucks an hour delivering
food for DoorDash.
If that's a near term win, absolutely.
But like, is that going to getyou to your long term goals?
Maybe, maybe not.
And so trying to put itthrough that early on, we're very
focused on like the fear offailure side.
(42:31):
The downside risk is this, amI going to go broke?
Am I going to look stupid?
Is this going to be a flop?
You know, what's that going todo to my psyche and my finances?
But on the other side, really,really important to look at.
Well, what if it works and isthat going to be a win for me?
Totally.
I love it, Nick.
Well, everybody, you need tobe listening to the side Hustle Show.
Fantastic show.
(42:52):
I've been on there once, ifnot twice, but Nick, super awesome.
How can people find you?
Let's say social media oranything else that we need to know
how to get a hold of you.
Yeah, we'd love to have youtune into the side Hustle show.
You'll find it in all yourfavorite podcast apps.
You find it on YouTube.
Like Dustin said, there's over600 something episodes to choose
from.
What would love to have youbinge on the archives?
(43:13):
Understanding probably not realistic.
So what I did, I put togethera playlist quiz where if you answer
a few short questions aboutyour Side Hustle goals, interests,
we'll send you the 8 to 10greatest hits episode in that category
for you.
So that's at Hustle that show.
And you can do that on yourphone, answer those few short questions
and get that personalizedcustom curated playlist.
(43:36):
That sounds awesome.
How did is that like a programyou guys had to develop?
It was through this quizsoftware called Interact.
Try Interact.
Wow, that's awesome.
Which I stole from a guest of mine.
She had a.
She was like a fractional cfo,like a accounting business.
And you know, she had like 200episodes and she's like, oh, I asked
(43:59):
people, you know, what arethey struggling with, you know, when
it comes to their finances and accounting.
And then I steer them to theepisodes that are going to be most
helpful for them.
Like, oh, I'm totally stealing this.
I'm going to have to do thattoo, because I got so many people
asking me questions.
What about this?
What about that?
And so this, wherever you'restruggling, just.
I love it.
Nick, this is super awesome.
(44:19):
Really appreciate you, man.
What's.
Don't you have any.
You have social media that wecan share?
The.
Probably the most active isthe side Hustle Nation Facebook community.
If you just look up sideHustle Nation, you'll find the group
over there.
We probably have 50 or 60,000 members.
So fairly active, engaged,supportive community to help you
out.
Awesome.
(44:39):
Hey, Nick, great seeing youagain, man.
Thanks for being on the show.
Cheers.
And that is it for today.
Go ahead and get my free realestate investing course, Texas word
rental to 33777.
R E N T A L to 33777.
You can also join my RealEstate Wealth Builders group coaching.
Get all my courses.
All right, guys, we'll see youin the next show.
(45:00):
See ya.
Foreign.
You're listening to the MasterPassive Income Podcast Network.
Welcome to the Master PassiveIncome Show.
My name is Dustin Heiner, andI'm here to help you get financial
independence, creategenerational wealth so you could
pass it on to your childrenand never work a job again by investing
in real estate.
And in today's show, we'regoing to be talking to an expert
(00:22):
at side hustles.
We know it takes money toinvest in real estate.
We, we can use other people'smoney, but how much better also if
you have a way to create a newincome stream so that you can invest
in real estate.
And he's going to show us howwe can create side hustles that make
us money while we sleep as well.
All right, let's start the show.
(00:48):
Welcome to the Master PassiveIncome podcast where we talk about
investing in real estate witha special, special focus on making
enough money so you can quityour job and live the dream life.
And now here is your host,Dustin Heiner.
(01:09):
What's up?
What's up?
Super blessed as always tohave you here with me on the show.
Now, I gotta tell you, whenyou are around amazing people who
are doing what you want to doand even doing it better than yourself,
you just have to grow.
If you don't grow, you'reprobably just sleeping.
And so what I just did, I wentto Cancun for a week.
(01:31):
We got, I left on Sunday, gotthere on Sunday, it was an all inclusive
place, and left on Saturday.
But entire week, it was anamazing mastermind of other online
business owners.
You know, master passiveincomes, online business, podcasting,
YouTubing, coaching.
It's basically just a way toreach people online instead of having
a brick and mortar place.
(01:52):
Well, I went to this mastermind.
Now, First, I spent $50,000just to be a part of this mastermind.
And I kid you not, in thefirst two events that I've been to,
it's paid for itself.
Like, I've just been so blownaway at the amazing people that I've
met and the knowledge thatI've talked to and learned people
I talk to and the knowledgethat I've gained from, from talking
(02:13):
to these amazing, amazing people.
Now when you go to aconference, a conference, you might
get one or two gold nuggetsthat you're like, wow, that was so
good.
This was worth the trip to the conference.
Or this one connection.
Or that connection.
Well, at a mastermind, theseare people who are at even higher
level and they are so muchmore serious about their craft, about
(02:35):
their business that they do.
So people who are serious,they, they go to conferences, but
if they're even more serious,they go to masterminds or they become
a part of the mastermind.
So I spent $50,000 to be apart of this mastermind and then
I spent another.
I think it was like $6,500 togo to Cancun for this all inclusive
place.
Now if you want to check outsome of the fun things I did, like
doing a gainer, which is afront facing backflip off of a cliff.
(02:59):
It's not really that high of acliff, maybe 20ft, but you know,
doing a gainer off of that.
Being at this amazing place, Iposted some things on Instagram or
Facebook.
You could check it out,YouTube, you can find me the Dustin
Heiner at Instagram, give me afollow on there, send me a dm.
But you can see all the funthat I had there.
But it's not just the fun.
Well, here's the great thing.
It was a tax write off.
(03:19):
It was an amazing tax write off.
Being able to go to an allinclusive place, but every penny
of it was a tax write off.
Cause it was a business expense.
And that $50,000 that I paidto be a part of the mastermind, that's
a tax write off.
And I've grown and I make more money.
And in general because of themastermind, on top of that paying
(03:39):
for this expense to go toCancun, that expense is another tax
write off.
So last week I talked aboutthe mastermind that we're putting
on.
I'm putting on with me as wellas other amazing real estate investors.
We're almost sold out.
We only have a couple spots left.
It's going to be in DenverSeptember 19th through the 22nd.
(04:00):
And it's going to be a small,intimate group.
And you guys know, if you'velistened to this podcast very long,
you know I don't do any one onone coaching.
I don't do one on one coachingbecause I just don't have the time.
I have a family and I lovedoing that.
But we know we got a coach.
So we have three coaches now.
Jeremy Pusey is a brand newCoach, Charles Rose Jr.
As well as the William Palmerand we also have a multifamily coach.
(04:23):
Our fourth coach is CharlesSeaman, but we have all these one
on one coaches that coach people.
Well, if you want to get onewith me and be two days at a retreat
with me as well as otheramazing real estate investors, Charles
Rose Jr.
Will be there as probably theother coaches will be there too.
We're going to bemasterminding together for two and
a half days.
(04:43):
Two, two and a half days.
And we're going to be havingsuch an amazing time, a lot of growth,
but you need to be in the room.
The reason why I paid $50,000because I wanted to be in the room
with, with these amazing people.
Now you're gonna grow withspending one of two different things.
You can grow in life and inbusiness and your real estate investing
(05:05):
with your time, spending yourtime day in and day out, working,
connecting with people.
And honestly, that's what Idid back in 2006.
I started investing in realestate, started buying property after
property, making lots ofmistakes, not even knowing who to
talk to and just doing it onmy own.
Well, it took me about eightto nine years and eventually right
before my 10th year, I quit myjob, which was very, very blessed.
(05:27):
Now if I would have gotcoaching number one, that would accelerate
it and got it faster.
But then if I would have gotin the right room and accelerate
even faster than that.
So remember, you're going topay with either one of two ways,
your time or your money.
That's the second thing Iforgot to tell you.
You're going to pay with your money.
You can pay with your moneyand accelerate the time and get around
the right people.
(05:48):
Here's, here's another thought.
I'm in a right room withpeople because I just built the Income
builder software.
My, one of my students, Juan,is a fantastic programmer and we're
creating the software that isright now it's free.
So if you want to.
I'll put the link in the description.
If you want to get your freeaccount, it helps you to analyze
properties.
We're currently developing howto find properties off market properties,
(06:10):
send mail call and all thatsort of stuff.
And we're developing thisentire process.
But you can get a free app,access to it.
Right now, go to IncomeBuilderIE and create your own account.
You'll get it for free, you'llget access to it.
But at this Mastermind, Ispent $50,000 to be a part of and
another $6,500 to go to Cancun.
I made some amazingconnections that these people have
(06:32):
in their Rolodex, other peoplethat would potentially be able to
use and have their students,other coaches have other students
use the, the software.
And what I'm trying to say isyou can exponentially grow in instead
of going 10 years to be ableto quit your job hopefully in six,
four, three, maybe even twoyears because you are in the right
(06:55):
room and I want you to not dowhat I did.
I paid with my time.
I worked an extra five yearsat my job because I didn't know what
I was doing.
I wasn't connecting with otherpeople, I wasn't networking.
But I have now so manystudents in four and five years quitting
their job, becomingfinancially independent because they're
in the right room.
And this is a way, you don'thave to be a student to be a part
(07:17):
of this mastermind, but you dohave to have the ability to grow
and the desire to grow.
Well, check the link in the description.
If you go tomasterpassiveincome.com mastermind
it will send you to the most current.
So next year when you do another.
Mastermind, it'll update to that.
So always go tomasterpassiveincome.com mastermind
(07:38):
and you'll see the detailswhere we're staying at.
Downtown Denver, Colorado.
Amazing hotel.
The Brown Palace Hotel is sucha beautiful, amazing old hotel.
I mean, like, I think ElvisPresley stayed here, there, the Beatles,
many presidents.
Like, it's an old historichotel and it's super awesome.
But then you also get to bewith me for two days, like almost
(07:59):
one on one.
It might be, I think it's like10 to 12 spots.
And so we're almost sold out.
So go secure your spot right now.
In fact, just today I got DMed.
By somebody on Instagramsaying, hey, Dustin.
I really want to be a part ofthe Mastermind.
How do I join?
So I sent it over to him.
But this is for you too.
This is for you.
If you are wanting to scale upyour business, if you want to get
(08:20):
around the right people whoare currently investing, if you want
to get around me.
Like, I even had somebody say,hey, Dustin, is this actually going
to be like coaching?
Like, well, you have my time.
Of course I'm going to be there.
Let's do it.
Let's get you to the next step.
And that's what that man,that's what master passive income
is all about.
That's what the mastermind isall about.
And this is my goal.
(08:41):
And honestly, I'm gonna sayone, one last thing.
So I may not do very many moremasterminds because it's a lot of
time and effort and there'sonly, let's say 10 or 15 people there
when my goal is to help amillion people.
So I might have to stop doingthese masterminds.
So, so that I can then starthelping many more people like, you
(09:02):
know, get on big stages andteaching lots, like thousands of
people instead of like 10 to12 or 15.
So I might not do these anymore.
So you need to be in the rightroom with right people.
Go to masterpassiveincome.commastermind and you will be able to
get with me and other amazinginvestors now in today's show.
I'm super pumped to be sharingwith you.
A friend of mine, he has anamazing podcast called called the
(09:25):
side Hustle show and he has acommunity, the side Hustle Nation
community on Facebook.
He is on a mission to helppeople get side create side hustles
so that they can make money toget financially independent.
Whereas we as real estateinvestors, business owners, what
we want to do is have thatside hustle because if we have extra
time, let's use a side hustleto make money so we can buy more
(09:47):
investments and become moreand more wealthy.
I have a good friend of mineand you definitely need to check
out his podcast, his YouTubechannel, the side Hustle Show.
I have a good friend of mine,Nick Loper, on the show.
He's going to show us how wecan create the best side hustles
to make us more money toinvest in real estate.
All right, here we go.
Nick, thank you so much forbeing here, man.
Dustin, grateful to, to behere to hang out, to geek out on
(10:10):
all these different moneymaking ideas and creative side hustles.
I, I love that.
Well, a couple things.
You're frugal just like I am.
You do side hustles just likeI am.
You podcast just like we haveso many commonalities which is so
much fun.
And then we ski too.
And that was a, that was a funthing we learned in 2020, right before
COVID we went skiing at a, youknow, an event, at a fincon event,
(10:33):
Mastermind type thing.
And it was so fun becausehonestly, like, I'm not a fantastic
skier, but I'm pretty good.
And most people can't keep upbecause, you know, they're just,
you know, they don't ski, theydidn't ski their entire life.
And then I hear, I see youpass me, I'm like, oh, dang, this
is great.
Yeah, it was great.
Yeah, we're like, let's go.
We hung out all weekend, so great.
Well, Nick, this is the ideaof having another way to make money
(10:58):
as.
Opposed to your job, which I love.
Calling your J O B becauseyou're living just over broke working
that just over broke job.
And then you're investing inreal estate.
But there are other ways tomake money.
That's not going to take a tonof time, but it'll help you in your
endeavors to be financially independent.
Talk to me a little bit aboutyour idea.
Like, what does side hustle mean?
(11:19):
Yeah, well, broadly speaking,side hustle is anything you're doing
to make extra money outside ofyour traditional day job.
And I would bucket real estateunder that umbrella.
Absolutely.
Where it differs frommoonlighting or getting a second
job or delivering pizzas orbartending on the weekends is this
connotation of there's anentrepreneurial upside.
(11:40):
There's this implication thatyour side hustle has the chance to
scale up, to be beyond tradingtime for money.
And maybe it's the thing thatultimately replaces the day job down
line.
And not everybody wants to gothat path.
Not every people, like, I'mhappy with my job.
I just want to use my freetime more effectively, more creatively,
more productively.
And that's fine.
They're happy with, you know,whatever, whatever they can build
(12:02):
on the side.
Other people are like, get meout of this cubicle as fast as humanly
possible.
I totally, that's.
Well, that's how I was.
I was like, get me out of thiscubicle as fast as I.
I was buying things at storeslike I remember Ace hardware or auto
parts store and selling themon ebay because I saw them, they
were discounted clearance.
(12:23):
I would sell.
I do anything to make extramoney to invest in real estate.
And I just knew that the moremoney that I make, the more I could
invest in real estate to buymore real estate.
And then at the same time, Istarted businesses.
Now talk to me a little bit about.
Because when I.
Everybody has differentconnotations or understanding of
(12:43):
what something means.
So side hustle, they thinkmaybe a lot more work.
Are there any side hustlesthat aren't a ton of work but then
have a good reward?
Like if you could boil yourbrain down, like you've, you've done
thousands of interviews ofdifferent entrepreneurs.
What are some of the key onesthat you've seen?
Take less time but make more money.
(13:05):
Yeah, this is, I mean, this isthe million dollar question, right?
And actually just had PatFlynn from Smart Passive Income on
the show when we went through10 different, know, popular passive
income ideas, quote, unquote,passive income ideas to get his take.
Well, what's your rating?
How would you grade these?
And some of the ones that kindof had maybe the common themes were
what are the things that I canset up in such a way that they can
(13:28):
run more or less on autopilotand nothing is going to be completely
passive.
There's going to bemaintenance and upkeep and customer
support and stuff required.
But he gave the example of isPokemon YouTube channel, right?
He's like stuff that Iuploaded two years ago is still racking
up views.
He said if I stopped uploadingtoday, yeah, it would be this kind
of long, slow decline, but itwould probably still be a five figure
(13:51):
monthly income for at least acouple years.
Just based on the.
The back catalog, the archive.
So you're looking atbusinesses where you create this
asset once and largely.
I deal with like digitalassets, you know, articles, podcast
episodes, YouTube videos,digital products.
Whereas I create the thingonce and sell it over and over and
over again.
Software would be in the same bucket.
We talked about his like Fusebox or smart podcast player, little
(14:14):
website plugin that I've beenpaying for for years.
So I know it's relativelypassive because at least has recurring
revenue.
So looking at some of thosetypes of models for you're trying
to set something up thatdoesn't require client communication
and client work on an ongoingweekly and monthly basis.
(14:34):
And I want to pause for just aquick second and say thank you so
much for listening to the show.
If you've gotten anything outof the show, I would appreciate it
if you went to anywhere thatyou listened to, let's say Apple
or Spotify or wherever andleave a five star review.
Honestly, I really appreciateyou leaving an honest review.
I just love giving all thisinformation out and I want to see
you succeed.
Also send this to one person.
(14:55):
Just tell one person, say,hey, Dustin wants to help a million
people to invest in real estate.
You need to listen to thisbecause it's going to change your
life.
Lastly, get my real estateinvestment course completely for
free.
Text the word rental R E N T Al rental to 33777 rental to 33777.
I'll literally give you mycourse showing you everything in
(15:17):
the business so that you canbecome financially independent.
So you've got lots and lots ofcontent out there.
I mean you've been doing itfor a barrel.
2015 I think you started.
Yeah, even before that.
Dang, that's a long time.
And so creating content.
You have that much content outthere with your podcast, you know.
Well, how many episodes areyou now on the side Hustle show?
(15:39):
We're at like 6:70 or so.
675 was, was the episode withPat 675.
That's so much content out there.
And what I love about thecontent is it's evergreen.
Like you just said, people cansearch for it and they could find
it and they can download it,they can watch it, they can go back
and binge everything.
(15:59):
As opposed to, let's say youhad a business where you did Facebook
ads or YouTube ads, where youplace the ad in front of somebody
one time and then it's gone.
So that money spent is notthere anymore, or that their content
that you created, it's onlythere when it's paid for.
And that organic content thatyou put out there, like a YouTube
channel, that YouTube channel,like you said, the Pokemon channel,
(16:21):
like Pat Flynn has, or theside hustle show, or like Master
Passive Income, I get peoplewatching those back videos all the
time.
One of the funniest ones, ormaybe one example that you might
even be able to take from yourday job is what I just call tutorial
YouTube, where it's like, hey,I had this problem, I figured out
how to solve it and I recordedthe video on how to solve it in the
(16:43):
example.
I just looked this up theother day.
It was like, how, how do Ikeep Dropbox from like storing files
on my local hard drive?
Right?
It was like, this is supposedto be cloud storage.
I don't want it on my computer anymore.
And we figured out how tosolve it.
It's like a one minute long video.
And over the course of nine orten years that this video has been
uploaded, it's just likelooking in the YouTube analytics,
(17:03):
it's made over a thousand dollars.
It's like, dang, I shouldhave, you know, I should make more
of those.
It's just like, you know,answering people's questions because
YouTube is by and large asearch engine, but it does have that
kind of viral recommendationengine element to it as well, where
if you're making, you know,Pokemon binder collection, you know,
risky stuff that he's doing,but that stuff can really hit the
(17:27):
viral lottery too.
What other types of sidehustles can.
Can you think of that?
Let's say somebody's working aregular job, you know, nine to five
or eight to five, Mondaythrough Friday, and they want to
start making some extra moneyto help pay for bills, but then also
help save, maybe get him outof debt, but also save for investing.
Is there any other sidehustles that you could think of that
(17:47):
would be probably scratch thator mark check that marks that would
help them to start making more money?
Yeah.
What's Interesting is eventhough you're already trading time
for money at your day job,most more side hustle show guests
started with a service basedbusiness than any other.
And I think the reason forthat is it's low overhead.
(18:08):
You have almost no startupcosts in terms of inventory or equipment
or you know, building anaudience, which you know, could take
months or years, or building aproduct you can get started right
away.
Find one client, you figureout how to solve their problem, and
you're kind of off to the races.
Now from there is where itgets interesting because you're like,
well do, do I really want tospend my nights and weekends doing
(18:32):
this?
Is there a way to removemyself from that equation?
Is there a way to build kindof like.
And some people go down theagency model like, well, if I find
other people, if I don't findmyself in that freelancer's trap
of selling my own skills,instead I'm selling a result to the
client.
I go find other people who candeliver that result and take a margin
in the middle.
We've seen people do this withgraphic design, web design, cleaning
(18:54):
services, window washing, youknow, pretty much anything, you name
it.
You can find somebody else whoknows how to do that thing and be
the marketer and administratorof that and all of a sudden you're
no longer selling your own time.
You mentioned the, the productflipping type of business, the ebay
arbitrage type of business,the garage sailing.
We've seen some people do somereally cool stuff with consignment
(19:15):
events because like, well, ata certain point I run out of inventory
on the clearance, I elevase hardware.
And we've seen people go outand host these big consignment events
for furniture, for clothing.
And they said what reallyworks best is like limited time sale,
right?
You can try and gather up allthis stuff, but you could do it on
a smaller scale just aroundyour neighborhood, like, hey, spring
(19:36):
cleaning time.
Do you have anything you wantto get rid of?
I'll sell it for you, we'llsplit the proceeds, you know, name
your name, your floor price,whatever you don't want to, you know,
you wouldn't, you wouldn't letit go for any less than that.
But then otherwise, you know,I'll, I'll help you flip it.
I'll deal with the, the tirekickers on Facebook Marketplace,
or I'll deal with the ebaypeople and get, get started that
way.
Those are, those are greatideas, especially like a service
(19:58):
based business.
I'll give you example.
My boys mowed our Front lawn.
And then our lawn next to ourneighbor, like, butts together.
And so my boys were just cool,really nice, and they just mowed
it.
They mowed the neighbor'slawn, and neighbor gave him, like,
15 bucks just because.
As a tip.
Because they weren't eventrying to charge.
Yeah.
Now they got an idea like, oh,we can create a business.
(20:19):
Do that.
We can create it.
We can put people on, like, amonthly service fee, and we could
mow it once a week.
And so they're starting thatbusiness, which is great.
And get those gears turning.
Exactly.
Now, you've also written a fewbooks, and I love the books, but
I don't want to go with the books.
Meaning I want to, like, deepdown, think of what are the characteristics
(20:43):
of successful side hustlepeople that you come across?
Because you've.
You've interviewed 600 plus,you know, you've done.
You've seen so many differentside hustles, and there's probably
some commonality, eitherpersonality traits or drive or whatever
it might be like.
Can you boil down, like, whathelps a side hustle expert to actually
make a really good living at it?
(21:05):
The first is this willingnessto take action, even if you don't
know steps two through 10,even if you're not fully convinced
that this is going to be theright idea.
It's like this idea thatchoosing what's next doesn't have
to mean choosing what'sforever, but there's this.
There's some entrepreneurialphysics at work.
Right.
Like, where a side hustler inmotion tends to stay in motion.
(21:26):
But similarly, you know, anentrepreneur at rest or a podcast
listener at rest tends to stayat rest until acted upon by another
force.
And that force has got to comefrom inside.
Like, there's got to be someintrinsic motivation of why do you
want this?
Sure, we want to make extramoney, but why do you want the extra
money?
And then you got to go, youknow, what's the rule?
Five, why's deep?
What is that really going toafford you?
(21:47):
Because it's hard.
And if you do it for twoweeks, it's kind of like New Year's
resolution.
I did it for two weeks.
I didn't see the results thatI wanted.
Now it's hard, and I'm goingto go back to my old ways.
So you got to have thisreally, really driving why behind
it to see what's going on,this willingness to take action and
this willingness to figure it out.
Like, Brian Harris has thisold video.
(22:08):
Like, this is your number onejob as an entrepreneur is like chief
figure outerer.
And it's like you're, you'realways going to run into kind of
the ceiling of your ownabilities and the ceiling of your
own comfort.
And then you kind of are facedwith that question like, well, do
I shrink back from that or doI figure it out?
I'm going to have to figure itout as I go along.
(22:28):
The figuring it out issomething that anybody who is going
to be a business owner,especially real estate investor.
Real estate investors.
We're business owners.
Our inventory that we own isreal estate.
And so that's what we own.
And when you figure thingsout, because.
You'Re going to have, do you consider.
It like a product business then?
100.
Absolutely.
It is one.
(22:49):
Rather than like a rental service.
Correct.
It's a product that myproduct, my property is what does
the work for me.
And then I hire other peoplethat make sure that that product
is actually doing work.
Yeah.
One thing that we found isbasically three ways to escape the
rat race.
And then our mutual friend,Kellen Klein kind of breaks this
(23:10):
down like traditional savingsin retirement.
Paper assets, stocks, bonds,mutual funds, index funds.
Right.
That's like, that's thetraditional path.
Amass this big enough nest eggand hopefully live off dividends,
interest, appreciation for,for perpetuity.
He says, you know, for mostpeople with the dedicated, you know,
and pretty high savings rate,this is going to take 20 to 30 years.
(23:32):
Right.
That's path number one.
Path number two is Dustin'spath, the real estate path.
How can we use a little more leverage?
How can we buy these assets,these cash flowing assets, these
appreciating assets, these taxbeneficial assets, and replace our
day job income with that timeof cash flow.
And if you're dedicated anddiligent, Maybe that takes 10 years
(23:53):
of building your portfolio,building enough doors, build enough
cash flow that way.
The third path is thisentrepreneurial pathway.
Probably the riskiest, maybeif you look at it in a certain way.
But I think it's got thebiggest upside because it's like
you create something, you haveownership equity in.
Every dollar that you add toyour bottom line on a monthly basis
is also 2 to 3x increasing thevalue of that asset in terms of its
(24:16):
equity value in terms ofpotentially selling that business
down the road.
And maybe that's, you know, afive to ten year process of getting
something started, getting itoff the ground and building it to
the point, even if it startsas a side hustle, building it to
the point where that replacesthe salary and affords a pretty comfortable
financially independent life.
(24:38):
Yeah, I love that.
And my perspective is thatanything that you're going to do
that's not working a job,working for somebody else, you need
to have it as a perspectivethat it's a business that you have.
Now my real estate investingis a business that I own real estate
and that real estate makes memoney every single month.
Just like if I had any business.
I don't go into business tolose money.
Whenever I buy and sell acandy bar, I don't want to lose money,
(25:00):
I want to make sure I makemoney every single month.
So same thing.
What I love is that if you arenot working a job, you need to figure
out what type of business canI build.
Because when you invest inreal estate, you buy real estate
and then that real estate isyour business, then hopefully you
become financially independentand then you have 40 plus hours of
your life back to then I thinkyou should build more businesses,
(25:21):
other businesses.
Now the flip side to that too,let's say you're a side hustle expert
and you do really, really welland and your side hustle becomes
your full time business andyou're like man, I can quit my job.
Well, you start making more money.
When you have a good business,you're going to be making more and
more money.
Then you have to figure outhow to protect that from irs, from
Uncle Sam taking it from youand then you put it in real estate
(25:43):
and you've invested in some ofmy deals and it's so terrific being
able to invest together.
But a business owner shouldinvest in real estate and then a
real estate investor shouldstart businesses.
At least that's my perspective.
Yeah, you think about thatcash flow quadrant going back a long
ways to the rich dad, poor dad.
And I found myself kind of onthe maybe the self employed side
(26:05):
where it's like if I stopworking, it lasts for a little while
but doesn't take long beforesomething breaks.
A guest called it the laptoptest, as in after you close your
laptop, how long does thisincome really last?
It was kind of an eye openingexercise and Austin Netsley calls
it the two week vacation test.
Right.
(26:26):
It's a good way to kind ofstress test your business and your
team.
Like how well is this reallysystemized to run without you?
Like where you find whichbottlenecks really, really kind of
pop up but trying totransition more to that business
owner and investor side wheresystems are working for you and your
money's working for you instead.
So personal question and youcould dodge it.
(26:47):
If you want.
Are you at that phase where.
Because, I mean, if you don'tput out shows, eventually it might
dry up.
Have you been able to getother businesses, other investments?
Is that something that you've done?
Yeah, we've got a prettyhealthy dividend portfolio where
the cash flow coming from thatis actually more than my, like, initial
corporate salary.
And it's like, hey, that'skind of a cool milestone.
(27:09):
Took 20 years to get there, oralmost 20 years to get there.
But it was.
We saw that on the.
On the tax return this year,which was kind of fun, fun little
milestone.
And we're kind of in the pointof coast fire or financial independence,
where it's like, if it.
If it dried up tomorrow, ifyou suddenly got sick of would be
fine.
Like, it would be okay.
(27:30):
But I find that doing the showhas become almost part of my identity,
where it's like, hey, everyThursday we got to kind of come up
with some compelling radio to share.
And it's, um, really cool tobe able to get paid to do that.
Oh, totally.
Podcasting's fun.
I just love podcasting.
It's, it's.
It.
It's the flagship for MasterPassive Income.
Is.
Is the podcast.
(27:51):
And that's where most peoplefind me now.
I got a question for you.
So you're frugal like me aswell as you save money?
I save and invest probablyabout 90% of all the money that I
make from my businesses to myreal estate.
It all goes back into real estate.
I keep investing it.
Do you.
Have you thought through?
Because, you know, when you'refirst getting started, you're thinking,
(28:12):
oh, I got to save 5%, I got tosave 10%.
Have you thought through?
Because you're pretty frugallike I am.
Yeah, we never really lookedat it, you know, from a 5 or 10%
standpoint, but we did look atit from kind of like a household
profitability or personalprofitability standpoint, which is.
It's kind of mind blowing, andmaybe it shouldn't be surprising,
(28:34):
but, like, on your.
On your 1040, it'll say,what's your adjusted gross income?
Modified adjusted gross income.
All of that is great, but thenumber that's really, really important
is how profitable were you asa household?
And it's like, it doesn'treally matter what you make.
If you spent 90% of it, you'regoing nowhere.
(28:54):
So you got to figure out, howdo you live with more margin.
And this is kind of theimpetus of the whole side hustle
show thing.
It's like of course, livefrugally, spend intentionally, you
know, invest where you get themost value.
Sure.
But at a certain point there'sonly so much you can cut.
Right.
You still got to eat, youstill need somewhere to live, you
(29:15):
still need a car to get youwhere you need to go.
But the revenue side of theequation is limitless and it's a
lot more fun to work on that than.
Rather than clipping couponsand trying to figure out how to live
as cheaply as possible.
Yeah, you can only cut so muchbefore there's nothing.
It's like a race to the bottomand you don't want to do that.
I find that when you haveproblems, it like money doesn't like
(29:36):
solve everything, but itsolves a lot of problems when it's
like mortgage payments orwhatever it might be.
Yeah.
What's the Ryan Holiday line like?
If you got a problem thatmoney can solve, you don't have a
problem.
That's easy.
Easy to say if you got moneyto solve the problem.
But like is the example, likeour garage door broke the other day
and it's like one of the bigold like lift springs is busted and
(30:00):
it's like, that's notsomething I know how to do myself.
So you could call the repairguy and there's, you know, boom,
thousand dollars out the door.
And so it's like the, theextra margin in your life gives you
the.
I mean, I don't know if it'sever like comfortable, but you know,
it's not going to, you're notgoing to have to choose between fixing
the garage door or buying groceries.
You know, it's like just alittle bit of financial breathing
(30:23):
room can really, really go along way towards, towards mental
health and just kind of youroverall well being now.
And I've heard, and this isjust anecdotal from other people
stating that they're like the most.
One of the most like biggestreasons for people to get divorced
is financial issues, which Icould definitely say.
(30:43):
I mean it just puts a strainon the marriage, puts a strain on
the relationship.
And so you can have that whereyou don't have to think about the
finances and make it so thatit comes in without you having to
stress.
I mean, when you don't have toworry about a mortgage, oh my goodness.
Like I remember when thatfirst happened, I was like, what?
This is amazing.
Back in 2013, 2014, I was likejust scrimping and saving just to
(31:07):
pay the mortgage.
And now looking back now Ihave so lots and Lots of properties
free and clear now and I don'thave to think about the mortgage
or bills.
I mean, that's just so freeing.
With then you can then focuson the most important things in life.
Do you reach a point whereyou're like, I don't need any more
doors.
I, you know, am I adding morecomplexity to my life by building
(31:31):
this empire?
You know, I'm going to go to200 doors, I'm going to go to a thousand
doors.
You're like, you know, withevery jump up is another level of
complexity and management.
Fantastic question.
And so right now I'm at a newpoint where I have 30 plus properties
for myself.
(31:51):
And the apartment complexesyou invested in, invest in some hotels,
syndication.
But as far as like let's saysingle family homes, my bread and
butter right now may actuallysay about a year ago I was like,
okay, I'm set.
I don't really need that many more.
It'd be great.
I'll buy one here and there.
But now I've been blessed tonow take the focus off myself.
(32:12):
Now I'm focusing on my kids.
Now my oldest daughter, who's16 now, she bought her first property
three months ago.
Now obviously I coached herjust like I coached everybody else.
Yeah.
And she used her savings.
We got the property.
It's making, I think, $300 amonth in passive income.
And I said, I'm going to helpyou do this, but you have to commit
to not spending any of thatmoney so you can snowball it into
(32:35):
the next property.
And then let's say 10 yearsfrom now, you're going to have 10
properties, hopefully, Lord willing.
And then you're going to have,let's say, five, $10,000 a month
of passive income.
And so every single one of mykids, it's now on me, like I'm putting
it on myself.
I need more so I can have themhave their own business that they've
built with me.
Yeah, yeah.
(32:55):
And that's super cool.
To set them up for financialindependence in their 20s.
Like, that's awesome.
It's so.
It is, it is.
It's encouraging when they getexcited about it because they've
seen me talk about it forever,they've listened to the podcast ever
since they've been born, allthat sort of stuff.
And so now having them excitedabout it.
(33:15):
And one quick thing, likethey're excited about real estate
investing, but they were.
Saying, well, how do we make more.
Money, dad, so we could buymore properties faster?
And so now with master passiveIncome, we Have seven total shows,
seven other hosts that areunderneath the master passive income
Podcast network.
And so I hire somebody else inthe Philippines to edit the podcasts.
I'm paying them.
And I thought literally justyesterday, why my kids edit my podcast?
(33:39):
Why don't I just pay my kidsinstead of this other person to edit.
The podcast for them?
Yeah, exactly.
And so they all said, yes, we're.
Going to do it.
So let's take turns like oncea month, handle all the podcasts
and then the next person.
The next person.
But it's.
Do we then pass on what wehave, knowledge and property, or,
(34:00):
you know, like the, thetangible things that we have, but
set them up for success.
Yeah.
That's really cool.
Your kids are.
Have they been able.
They're.
They're under 10, right?
I.
Yeah, we got nine and seven.
Got it.
So hopefully pretty soon youcan have.
Have them starting to turn.
Like, how.
How are we going to make some money?
(34:20):
They want to go sell likepopsicles and root beer floats at
the pool this summer.
It's like, yeah, we'llencourage this.
And they want to make, youknow, YouTube videos.
And because they watch like,dude, perfect.
And my kids do too.
And after 10 minutes offilming, there's like this, this
light bulb goes off.
Like, there's a newappreciation for the production quality
(34:43):
for like how many, how manytakes it must have.
Take it to like land thattrick shot and do this stuff.
And it's like, I love thatyou're thinking, I want to be a creator,
not just a consumer.
And.
But you see there, there'sactual work that goes into.
It's not as easy as they makeit look.
Totally.
My kids love.
They love watch on all that stuff.
And then the thinking ofpassing things on to them and building
(35:08):
them up, that was somethingthat really, about a year or two
ago, it was something like,how do I get them doing what I'm
doing?
Investing in real estate,number one, but also hopefully grow
them.
I got three other businessesthat they can hopefully eventually
take over.
So I'm building them up andgetting them doing their own side
hustles.
Like, like my boys doing thelawn mowing.
Like, I want them to have thatdrive, that internal drive.
(35:31):
I'm saying, hey, if you'regoing to do this, you're going to
go on your own.
Same thing, like driving.
Like, my daughter's 16.
She hasn't gotten her license yet.
I'm not, I'm not going to get.
Your license for you.
I'm not going to do the research.
I'm not.
You gotta make sure you do allthat stuff.
And she's like, I want to do it.
Like, then get your butt upand do it.
Yeah, yeah, yeah.
Mom and dad were verymotivated to not be driving me around
(35:53):
anymore.
So they were like, their,their rule was like, you got to get
your Eagle Scout before youget your driver's license.
And then they kind ofrealizing that might be years away,
they.
They gave up on that.
Like, no, no, no, that's fine.
I think I hit it like justbefore turning 18, like, whatever
the deadline is.
Wow.
So you, you became an Eagle Scout?
(36:14):
Yeah, a long time ago.
Dude, that's legit.
That's.
That's, that's hard work.
It was, but it was, you know,kind of a rewarding.
You gotta have something thatyou're shooting for, you know, whether
it's like you sign up for, youknow, a 10K, that's three months
down the road, you know,whether you commit.
Like, I committed myself tospeaking at fincon.
It's like you, you almost needsomething to like, you know, okay,
(36:36):
there's a next milestone orsomething to shoot for.
Are you speaking this year, fincon?
Yeah, I'm talking aboutbuilding your email list.
Oh, shoot.
I'm gonna have to go just tocome watch.
Come heckle me.
Well, are we gonna go skiingthis year?
Hopefully we can plansomething out.
Yeah, it'd be cool.
Be great.
I'd love to.
I'd love to get out skiing.
Like I said earlier, we jumpedbefore we jumped on.
(36:59):
Haven't gone on skiing, butnow before we get off, because I
definitely.
Everybody, you definitely needto check out the side Hustle show.
The podcast.
Definitely.
I mean, you're going to get so many.
If you are thinking, man, Iwant to make more money, but I have
no clue how to do it.
Nick has so many episodes thatif you're just driving to work, just
listen to one, one a day, andyou'll find something that will absolutely
(37:22):
help you to make.
Create a side hustle.
And it might even just replaceyour business or your job, which
would be great.
But with that, Nick, Nick withthe side hustles, if.
If somebody starts getting alittle deterred with life because
life gets in the way, youknow, your kids and then family.
What have you seen throughpast experience yourself or, you
(37:44):
know, listening to other sidehustle people to get past that, when
life starts getting in the way?
Yeah.
So first having that, youknow, driving motivation, that deep
seated.
Why?
And I remember you telling methis story on the show and years
ago about Getting laid offfrom the supposedly secure government
job.
Like, no, never again.
(38:05):
We'll never, never again goingto let this happen.
So having something like thatin your back pocket can, can really
go a long way.
Well, because life gets in the way.
And that's something when lifegets in the way.
Yeah, yeah.
What we have found is if youare dedicated and diligent to making
consistent progress, and itmay not happen every day, but it
(38:27):
should at the very leasthappen every week.
And what we found is peoplehave the most control over the, the
bookends of their days.
First thing in the morning,last thing before bed.
Especially if you're in atraditional job where you're putting
out fires, you're respondingto somebody else's agenda, at least
take half an hour to move yourown agenda forward, to be proactive
about it, because nobody elseis going to do it for you.
(38:50):
And that's kind of the.
Maybe the downside ofentrepreneurship is like, hey, I
want to be my own boss.
I want to call the shots.
But now you got to be your ownboss and call the shots and dictate
where are you going to steerthe ship?
Because I've had stuff thatsits on my to do list for weeks or
months at a time.
It's like, well, come on,dummy, nobody's going to do it for
(39:10):
you.
If it was that important toyou, you're going to have to take
action on it.
So there's definitely bothsides of the entrepreneurial coin.
But the big thing for me whenI was going down this entrepreneurial
route was tv.
Because social media wasn'tnearly as big back then.
What, 2012, 2010, somethinglike that.
Social media wasn't really asbig and so you didn't really scroll
(39:31):
as much.
So that's one.
If you're watching TV a lot,cut that out.
Like, didn't cut out.
Get rid of the tv.
I'm telling you, that's gonnajust, yeah.
Ruin you then scrolling.
Like, how much time do wespend on social media?
Just it's made to addict youto the next thing and the next thing
and next thing.
If you cut that out, I feel.
(39:52):
Like I'm pretty, like prettygood at it.
And then you still get likethe weekly screen time reports and
it's like you spend an hourand a half a day and it's like really
like, dang, that's like nine,ten hours over the course of the
week.
Like, that's not great.
Some of it was work time, you.
Know, but yeah, definitely, yeah.
I've been pushing onInstagram, you know, getting followers.
(40:15):
And so I had to consume it inorder to tell myself I have to consume
in order to get better at it.
But at the same time I findmyself, my goodness, how much time
am I spending on social mediathat I could be spending doing something
else to help more people, toinvest in real estate or build my
family up or whatever like that?
Yeah, yeah, definitely.
You can do this time auditexercise of, well, you know, start
(40:39):
time, stop time, what am Iworking on?
There's a few apps that,that'll do it for you.
I mean, it's still tedious,you could do it in an Excel spreadsheet.
But it's pretty eye opening tosay, well, where did my time really
go?
And then you can kind of havethe honest conversation with yourself.
Because I was for a long timereally, really guilty of saying,
well, I didn't have time, Ididn't have time to do that.
What I've tried to shift is mylanguage and self talk around that
(41:05):
saying, I prioritizedsomething else.
Maybe I prioritized watchingtv, maybe I prioritized hanging out
with the kids.
There's no fault in that.
But like that, having thathonest conversation, I prioritized
something else instead of,well, I didn't have time.
When people say I don't havethe time, it comes down, you don't
make the time.
That's really what you got to do.
And so if you've boiled forme, if I boiled everything down to
(41:26):
what is if to be anentrepreneur, to be a side hustle
person, it's to be intentionaland diligent.
Like you need to intentionallymake yourself do that and then diligently
doing every single day, dayfor giving or forgoing things that
are probably good for thingsthat are going to be great in the
future.
Delayed gratification.
I love the idea of delayed gratification.
(41:48):
And maybe thinking when, ifyou're in that idea of validation
or idea, you know, maybechoosing between three or four different
options, like trying toproject out three or five years down
the road of what does successlook like in this business?
If I give it an honest try, ifI take a swing and put in my best
effort and it works, is thatworth it?
(42:10):
Because you might find, okay,I signed up for DoorDash and now
three to five years, I'm stillmaking my 15, 20 bucks an hour delivering
food for DoorDash.
If that's a near term win, absolutely.
But like, is that going to getyou to your long term goals?
Maybe, maybe not.
And so trying to put itthrough that early on, we're very
focused on like the fear offailure side.
(42:31):
The downside risk is this, amI going to go broke?
Am I going to look stupid?
Is this going to be a flop?
You know, what's that going todo to my psyche and my finances?
But on the other side, really,really important to look at.
Well, what if it works and isthat going to be a win for me?
Totally.
I love it, Nick.
Well, everybody, you need tobe listening to the side Hustle Show.
Fantastic show.
(42:52):
I've been on there once, ifnot twice, but Nick, super awesome.
How can people find you?
Let's say social media oranything else that we need to know
how to get a hold of you.
Yeah, we'd love to have youtune into the side Hustle show.
You'll find it in all yourfavorite podcast apps.
You find it on YouTube.
Like Dustin said, there's over600 something episodes to choose
from.
What would love to have youbinge on the archives?
(43:13):
Understanding probably not realistic.
So what I did, I put togethera playlist quiz where if you answer
a few short questions aboutyour Side Hustle goals, interests,
we'll send you the 8 to 10greatest hits episode in that category
for you.
So that's at Hustle that show.
And you can do that on yourphone, answer those few short questions
and get that personalizedcustom curated playlist.
(43:36):
That sounds awesome.
How did is that like a programyou guys had to develop?
It was through this quizsoftware called Interact.
Try Interact.
Wow, that's awesome.
Which I stole from a guest of mine.
She had a.
She was like a fractional cfo,like a accounting business.
And you know, she had like 200episodes and she's like, oh, I asked
(43:59):
people, you know, what arethey struggling with, you know, when
it comes to their finances and accounting.
And then I steer them to theepisodes that are going to be most
helpful for them.
Like, oh, I'm totally stealing this.
I'm going to have to do thattoo, because I got so many people
asking me questions.
What about this?
What about that?
And so this, wherever you'restruggling, just.
I love it.
Nick, this is super awesome.
(44:19):
Really appreciate you, man.
What's.
Don't you have any.
You have social media that wecan share?
The.
Probably the most active isthe side Hustle Nation Facebook community.
If you just look up sideHustle Nation, you'll find the group
over there.
We probably have 50 or 60,000 members.
So fairly active, engaged,supportive community to help you
out.
Awesome.
(44:39):
Hey, Nick, great seeing youagain, man.
Thanks for being on the show.
Cheers.
And that is it for today.
Go ahead and get my free realestate investing course, Texas word
rental to 33777.
R E N T A L to 33777.
You can also join my RealEstate Wealth Builders group coaching.
Get all my courses.
All right, guys, we'll see youin the next show.
(45:00):
See ya.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.