AoL 155: Smart Real Estate Investing: How It’s Possible to Build a Rental Property Business without Banks or Your Money with Chris Prefontaine
Full Show Notes: newinceptions.com/155
If you've ever read the book Rich Dad, Poor Dad, you probably know that the author, Robert Kiyosaki gained his wealth in Real Estate Investing (REI). Since the release and rise of popularity of the book, there's been all kinds of methods revealed to the general public about how to make passive income.
There are two passive income quadrants: Investing (I) and Business (B).
When it comes to passive income, we're usually thinking of the B quadrant. For example, most of us are familiar with the thought leader approach. They create content, develop a tribe, and provide services or products to that tribe to help them achieve more. The larger the tribe, the more potential one has of making a good income.
Yet others might be more familiar with drop shipping through eBay or Amazon. Pretty much the same idea, but instead of developing your own tribe, you sell to the customers on those sites. Because of that, you have to share a percentage of what you earn with the company.
A hybrid of both of these is using Facebook ads to get your name out there to Facebook users so that they can convert in your sales funnel.
Again, these are examples of the B quadrant of passive income.
As for the I quadrant, it tends to stay off limits to most people who are seeking passive income.
Mainly because most people think that to work in that quadrant, we have to have money available to invest.
Truth is, that's not necessarily the case.
In fact, today's guest, Chris Prefontaine, has one of the coolest systems I've seen to help people develop wealth in the I quadrant.
In this session of the AoL Podcast, Veronica and I learn how it's indeed possible to build a passive income portfolio without using money from banks or our own pocket.