Difference Between Building A Business And Building Wealth?
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Read Transcript for “Difference Between Building A Business And Building Wealth?”
Joe: The reason I’m doing these videos is so that you can decide whether or not it makes sense to get involved with my Mentor Program or to come to my Two Day Buying Event.
Joe: If you want information about those things, I’m not going to cover that in these videos, e.g. what it’s about and what’s included and all of that stuff. Just go to the website. I’ve got it all laid out there. It’s a long letter that explains the whole process. Go to ZeroDownInvesting.com. Spell it out – z e r o downinvesting.com and you can find all of the information about the Mentor Program, about the buying events, etc.
Joe: I’ve combined them into one program now. I used to sell them separately (and they cost a lot more money that way) – I combined them so that people could get the full effect of what we’re teaching and to make sure that the people that are in my program are successful.
Question: “You talk about building a business and building wealth. What is the difference?”
Joe: Well, when you’re building a business, you can certainly build wealth by building a business, but with the business that we’re creating, we want to create cash flow; we want money coming in all the time and we’re putting out an effort to make that money come in on a regular basis. It doesn’t have to be a huge amount of effort, but you do have to put out an effort to make that happen.
Joe: Building wealth, on the other hand on long term investments is where you buy a property and it can passively increase in value. You get benefits from the depreciation. You get benefits from having tenants in that property or lease option tenants and you can make money long term – its passive income – you can have somebody else manage your business, and it’s great.
Joe: But you have to have the properties to start with. I can teach you how to do that through this business building program where you can put these deals together, but that takes some of your effort to make it happen.
Joe: It doesn’t take any effort once you own the properties and you have a good management in place and they can take care of that business for you. You have to worry about your cash flow and make sure that that’s working properly for you, but that’s a whole different subject which I’ll get into on another video series. Good luck with it.