Question: How Much Money Can I Make With Your System? How Long Will It Take To Start Making Money?
Joe. How much money can I expect to make if I use your ideas? How long will it take before I can expect to make money? I’m asking because I’m in a bit of a bind and need money right away. I’d appreciate your thoughts on this.
Dave H. in Indiana
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Read Transcript for “How Much Money Can I Make With Your System?”
If you stick with it and make the effort, the money you can make in this business is nearly unlimited. I’ll explain more…
“Joe, how much money can I expect to make if I use your ideas? How long will it take before I can expect to make money? I’m asking because I’m in a bit of a bind and I need money right away. Id appreciate your thoughts on this. Thank you.” – Dave H. in Indiana.
Joe: First of all, how much money can you expect to make? Its really unlimited how much you can make in this business. You can easily be a millionaire. You can make lots more than that. As far as cash income, I have folks that make an extra $50,000 a year. I have folks that make an extra $600,000 or $700,000 a year in cash income.
Joe: On top of that, you’re going to make equity. Now, if you use the “Millionaire Matrix” method that I talk about, you can buy one property every month for two years and you’ll be a millionaire, and I’m not talking about owning a million dollars worth of property – I’m talking about a millionaire in cash coming in and equity that you have on these properties, so there’s lots of ways you can do this.
Joe: When people first get started, I say, ‘Give yourself some time to make this happen, and then don’t expect to get rich overnight.’ This is not a get rich quick scheme – if you don’t do anything, you don’t make any money. It’s a business building program, and if you follow it and treat it like a business, like you do your real estate business, then you’ll make money.
Joe: Everyone that does this and goes through this process does very well with it, so there’s no reason you cant make money, too. A lot of it has to do with how much you put into it.
Joe: As far as how long it’ll take you to make the money, like I said, give yourself three or four months before you can expect to do that. With my mentor students, I see what I call “The Five Week Burn” – they’ll start implementing my stuff and things will start going well and they’ll start getting a lot of business but they wont make any money, and then five weeks will go by and they’ll get frustrated and they’ll stop just when they were getting really close to being able to pull something off.
Joe: So don’t give up – stay with it and give yourself three or four months to actively do this. I’m talking 8 or 10 hours a week. Its not a full time thing, you can do it part time – just give yourself time to do it and its very likely that you’ll be able to pull something off in that period of time.
Joe: I have people that have done it that took longer than that, but usually, if it takes longer than that, its because they weren’t really following through with the things I was teaching, or there were gaps or it took them a few months to get started. Again, I also should say that we’ve had people that do this in a week or two weeks and they made money immediately and gotten off the ground and made it happen quickly.
Joe: There’s two types of investing, there’s the active investing and the passive investing. The active investing is what I teach to my mentor students where you’re actually bringing in chunks of cash. The passive investing is where you own property and you don’t manage it – you just own it and it makes you money over time, and you’re looking at 5, 10 or 15 years that its going to make you money just like any type of investment or retirement account. So hopefully that helps. Thanks, now.