How To Make $100k Working 10 Hours Per Week
Here’s how to make $100k per year with 10 hours of work per week. It’s not that difficult, you just need to learn a few things and take action on what you learn.
I can’t honestly say that it has *ever* been my goal to make $100,000 a year. There have been plenty of times in the past when I have made less than that, but the things I was doing at those times were not about making money.
As soon as making money became my goal, I didn’t even think about how much I wanted to make or how much I needed – I just started doing things that I hoped would make me money. For some reason, I never doubted that I would be wealthy. I didn’t even know what being wealthy meant or was all about… ahh the certainty of youth.
But now that I’m older and have more responsibilities in my life, I think about these things a little differently. Most of us could easily live and support our families on $100k a year. We don’t need to be rich. If you’ve been making a lot more than $100k, you may have a bigger infrastructure that you have to support. But let’s face it, you could probably scale down pretty quickly if you had to and live a happy, healthy life and not have to worry about money if you made $8k per month.
What would it mean to drop your weekly work hours from 40 (or 90 for some of you) to 10? Would it be worth giving up some things? Would it change your relationships with your family and friends – your spouse? Would you be able to do more of the things you’ve always wanted to do, but never had time for before? What would it mean to your life, emotionally, mentally, physically and spiritually to have all that free time?
If you had to give up the “Porsche” or the “Vacation Home on the Lake” or the “Trips to Europe” every year or the – whatever luxury item you’d need to give up – if you had to give a few of those things up, but were able to get an extra 30 hours a week of your life back, would it be worth it?
What about you who don’t make $200k or $300k or more per year? What would it mean to you to only have to work 10 hours a week, but double your income? You wouldn’t be giving up anything, you’d be gaining a better lifestyle, more security and a bit of change to jingle in your pocket. You’d also be gaining a huge amount of time and freedom.
It would almost be like retiring and having a little hobby that you noodle around with that just happened to make you $100k a year.
Okay – so let’s say this sounds attractive to you on some level. Sure, it’d be nice to have Bill Gates bank account, but let’s say you just had $100k a year.
Let’s also say that you ignored 95% of everything else I teach and only wanted to do one simple system that I built from the ground up. I’m also assuming that you are actually going to do the things I tell you to and not just give it a 2 minute try and give up.
Assuming these things, here is the basis for the system that you can do that will make you $100k per year if you just close 1 deal every 2 weeks. Keep in mind, this deal requires no credit, no banks, no private money, no hard money lenders, no rich uncles, no cash down payments or earnest money, none of that stuff. All you need is a little bit of knowledge, a little bit of effort and a little bit of skill.
Here it is – I call it the “For Rent Method” and I teach it to all of my Six Month Mentor students the first day they join. The second day, they are making bona fide offers to sellers – no risk, no credit, no cash offers.
I teach them how to call up people who are advertising their home for rent and ask one simple question – “Would you consider selling your home Rent To Buy rather than just renting it?”
1 in 3 say “Yes, I’d consider that.”
We then use my online and grassroots (free) marketing techniques to sell the property. This usually takes 1-4 weeks (We’ve done it in as little as 5 minutes when we put my automation techniques in place. You can automate finding the seller too if you want – no phone calls.)
The buyer brings the first month rent and a lease option fee. We hand over a buyer (who is paying full price)Â and the first month’s rent to the seller and we keep the lease option fee as our part of the deal. This lease option fee typically averages about $4k. (I’ve seen it go as low as $500 and as high as $20k)
We are in and out of the deal without spending a dime, without using our credit and without taking any risk that the deal doesn’t close. The only thing we risk is a little bit of time and our ego if we screw something up (which we do sometimes – especially the newbies). But that’s okay – you learn not to make those mistakes again and you are not much worse for the wear.
Whenever a new student of mine does their first deal, I almost always ask them, “How long did it take you to do the deal. How much actual time did you put into this deal?” They invariably tell me 5 to 10 hours. If they made $4k and it took 8 hours, that means they made $500 per hour. Yes, it took time for them to learn how to do it, but now that they know how to do it, how long will it take to do the next deal? Could they do one every week, every two weeks in the same amount of time? Of course they could. I ask them this to help put the effort they made learning the process into perspective and to help them understand they have just launched an income rocket that will take them to the moon if they stick with it and go along for the ride.
You need to give yourself a little bit of time to get all this going. I tell everyone who joins my mentor program to give themselves 3 to 4 months before you can expect to make a dime (even though some of them do it in a week or two). But would it be worth 8 or 10 hours of your time each week to get yourself into a position to build a business that can feed you like this for the rest of your life with so little effort?
What would you pay in time and money to have this life? How much is your freedom worth?
Well, that’s all for today – Alex (my son) and I have to go kill some Zombies (Left for Dead – computer game).