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Episode 40
Why you've got to check out this episode:
We've been told of the usual route -- study, do well, finish college, and land your dream job.
But have you thought of creating something passive where you never need a job ever again?
The kind where it operates on its own without much intervention from you other than just looking at reports of how well everything is doing well for you and living off of it. And with the lifestyle you so wanted?
In this episode, our guest, Dustin Heiner shares how he went down the same path that most of us are following, getting a job, ending up being fired and unemployed but rising up to create a river of income and multiple streams of income.
3Rs - Read, Resource, Reflect
Read:
The Richest Man in Babylon by George S. Clason
Resource:
Email
Evernote
Reflect:
"The best time to plant a tree was 20 years ago. The second best time is now." - Chinese Proverb
Dustin Heiner is the Rental Property Expert and Founder of MasterPassiveIncome.com. Being Successfully Unemployed at 37 years old by investing in real estate rental properties, he is now on a mission to help everyone to quit their job and never have a job again. He also helps his students build successful real estate investing businesses all over the country.
Through his work at MasterPassiveIncome.com, Dustin Heiner has become one of the leading real estate rental property experts.
Dustin started MasterPassiveIncome.com from his home in 2015 while being a full-time employee, married with four children, owning and operating two other businesses, and being a full-time investor. He is very passionate about his mission to help others become successfully unemployed and never need a job again.
In 2015, Dustin wrote his first book, "How to Quit Your Job with Rental Properties," which quickly became a bestseller. From there, he began his new business helping others to invest in rental properties to quit their job.
Since then, Dustin Heiner has helped countless numbers of others to start investing in real estate rental properties. Even if his students live in very expensive cities, he shows them how they can invest all over the country.
His lessons and expertise have been called upon by numerous real estate and financial podcasts and events. Dustin has been featured in Yahoo Finance, Business Insider, Motley Fool, and US News.
Topics Covered:
03:25 - Realizing his value is not tied to a regular nine to five job
12:27 - Dustin's number one 'Why' he has catapulted to being a full-time investor
14:44 - Learning how to build a business that runs on its own automatically
17:29 - The reason why he scaled up his business and what it should be like 'setting up a business' before getting inventory
21:54 - Taking the fear out of buying properties or investing 'outside of state'
27:40 - How come he doesn't pay for taxes and other utilities?
29:50 - Branding and marketing his real estate investing business
31:37 - Why branding is huge in running a business for longevity
36:37 - His thoughts about social media and why he believes you don't have to be everywhere else
38:46 - Why you shouldn't do everything yourself and manage your properties even when you just start out in your real estate investing business
43:15 - Don't project yourself and your wants on other people
45:03 - Having that river of income at the same time streams of income
47:19 - Teaching his children financial literacy and about passive income instead of giving them an allowance
50:48 - Talking about his' Watch and Learn' podcast
52:27 - Books he recommends for the many great principles
53:00 - A personal brand that he likes and considers spot on
56:48 - What he says to someone who is contemplating quitting his day job
Key Takeaways:
"You need to realize that your value is so much more than anybody can ever pay you." - Dustin Heiner
"As soon as you realize that your value is so much more, then the world opens up to you to see, 'Oh my goodness, I can make so much more money!" - Dustin Heiner
"What we do is we build the business, finding all these people in the business first, then we go out and get properties, which is our inventory. Your business is your business; your property is your inventory. And that's how we scale because we have the business set up; all we got to do is find another property and buy a piece of inventory. And we put that into the business." - Dustin Heiner
"Because you set the business, you don't view your property as a business, it's a piece of inventory, then you can scale the business, and you don't even worry about it because you hire the right people and give them the rules and processes to proceed further." - Dustin Heiner
"I think everybody's brand needs to be an extension of you. Because if you're going to do a business for longevity, let's say if you're a realtor, if you're a property manager investor, literally be yourself because that's the only person that you can be the best version of yourself." - Dustin Heiner
"Definitely, don't be a property manager; you're going to hate it, you're not going to want to do it. You need to make sure you hire the right people in your business." - Dustin Heiner
"You better plant that tree today. If it's investing in real estate, if it's building a brand, if it's whatever it might be, or even just being with your kids, and being intentional about building relationships with them, do it today; don't put it off." - Dustin Heiner
"Find passive income because that allows you more time to be with your family, travel the world, build more businesses, make more money, and serve more people." - Dustin Heiner
Additional resources:
Text RENTAL to 33777 for a FREE Real Estate Investing course Or go to https://masterpassiveincome.com/freecourse
Real Estate Wealth Builders Conference - March 10th-12th 2022
http://rewbcon.com/
Checkout Dustin Heiner:
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