Question: What Is The Difference Between Building A Business And Building Wealth?
Hi Joe, Should I do quick flips or should I hold properties for the long term?
Sheena from Vermont
Sera T. in San Francisco.
My PushButton Automarketer Program – Automate your business:
My 6 month mentor program:
My Two Day Buying Events
My Real Estate Investing Blog:
My home study program (there are 68 free videos
you can watch on this site):
A Free Audio About How To Automate Your
Real Estate Investing Business:
Free E-letter Opt-In Page:
A few Case Study Video Interviews with my Students:
30 Day Free Trial Monthly Printed Newsletter and Audio:
What Is The Difference Between Building A Business And Building Wealth?
Joe: Hey, it’s Joe Crump again. 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, to come to my two-day buying event. If you want information about those things, I’m not going to cover that in these videos, what it’s about and what’s included and all that stuff. But just go to the website. I’ve got it all laid out there. It’s a long letter that explains the whole process. Got to ZeroDownInvesting.com – spell it out – ZeroDownInvesting.com and you can find all the information about the mentor program, about the buying events. I’ve combined them into one program now. I used to sell them separately, and they cost a lot more money that way, but I combined them so that people could get the full effect of what we’re teaching and make sure that the people that are in my program are successful.
Joe: The next question that I’ve got here is, “You talk about building a business and building wealth. What is the difference?” 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. Doesn’t have to be a huge amount of effort, but you 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 passively increases in value, you can get a benefit from the depreciation, you get benefit from having tenants in that property, or lease option tenants, and you can make money long term. It’s passive income. You can have somebody else manage your business and it’s great. 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.
Joe: But that takes some of your effort to make it happen. It doesn’t take any of your 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 in another video series.
Joe: All right – good luck with it.