How do you make extra money in your 20s?
Like you want some extra spending cash
and you certainly have options. Today, I’m
going to be exploring all of them with
you right here.
What do people do when they need more
money? They go out and they get a second
job. Frankly that’s what most people do.
But I want to ask you. Did you really say,
“I want extra money and I want to work
more or I want to work harder?” Or would
you just simply like to have extra money?
I would actually love to have extra
money without the work. Well, that’s
actually why I’m such a raving fan of
investing. See, the problem with getting a
job is you have to trade more time for
money. But if you learn how to invest, you
tell your money to go to work and then
it works for you. And this is kind of a
cool thing about investing is that in
the beginning, you save up a little bit
of money and you put it in an investment
and it gives you a little bit back. But
in time, it can snowball into something
huge. So let me ask you, do you think you
want just a little bit of extra money
now? Or would you like to have some extra
money and growing for the rest of your
life? Check this out. I love having extra
money. I’m not going to lie. I travel a lot, I
take extra trips. My daughter and I are
going to New York next week. I go to Peru
after that. And then after that, I’m
traveling to Vegas with my brother. I
love to travel.
And I love to have extra money for those
things. One of the things that I do for
extra money is real estate investing. And
I’ll give you a recent example. I bought
a commercial piece of property. And this
commercial piece of property with its
business that its stores makes me an
extra $20,000 a month.
Nothing about that. That’s a quarter
million dollars a year. That’s a quarter
million dollars that I can frankly spend
anyway that I want to have a little
spending cash on hand. But you know what?
That actually took quite a bit of doing
and took a lot of experience. So, what I’m
going to do here in this video is I’m going to
break it down and instead of saying, “Hey,
do something really big and wild. How
about something much easier and
bite-sized?” Today, I’m going to share how
investing in a tiny single-family home
can produce some extra spending cash to
frankly use however you want. For just a
moment, imagine that you bought a house
to live in and let’s say it took 5 or
10 thousand dollars out of pocket. All
right, that was an investment. You had to
let go of some money. But what you got
was a house. If you were to either rent a
part of it out to a family or if you
were to put roommates in there, let’s
just assume you’re not married or in a
committed relationship for a moment. If
you get some roommates in there,
all the sudden they’re paying your
mortgage. What does that do? It puts extra
money in your pocket. In fact, you could
take those savings and parlay them into
an investment property. And now, you’re
making an extra $500 a month on a piece
of real estate. What could that do? Well,
that’s just more spending money that
says, “I’ve eliminated my biggest expense.
I’ve got cash flow on this other deal.”
Here’s what I hope happens to you. When I
had bought my first 2 homes and found
myself in that exact situation, there was
a part of me that was tempted to go
party and splurge and just say, “Great! Now
I can live a nicer life.” But something
else happened. I became addicted with
investing. I thought it was so cool
that I could create that thousand dollar
a month difference. And I’m like, “Dude, if
I could just do that ten more times.” And
if I could make a ten thousand dollar
month difference then I wouldn’t even
need my job. Then I would have money,
extra money and I’d get my time back. And
so, you really want to ask yourself. Are
you just looking for a few extra bucks
or are you actually looking at doing
something substantial? In your 20s is the
perfect time to differentiate yourself
from what everyone else is doing. And I
get it. The advice I’m giving you is
really crazy. Because everyone else is
like, “Dude, max out. Buy a nice house, buy a
nice car. Live that life.” I’m inviting you
to do something very different.
I’m telling you that being a great
spender and investor in your 20s can
open up entirely different options in
your 30s and 40s. And frankly, for the
rest of your life. Which means that
you’ve got to learn how to get more
excited about investing than buying a
thing. Because some of us are literally
addicted to Amazon. We’re addicted to
spending what little money we have left
over at the end of the month so we can
get immediate gratification. I’m going to go
get a hamburger. I’m going to get this. I’m
going to rent this movie, I’m going to buy this
thing. I’m going to go get this thing.
Frankly, it can become a lifestyle, a way
of life. But if you fast-forward 10 or 20
years on that person, if their check to
check, I’m telling you right now. It’s
stress. And it’s not what you want. Which
means you got to find a way to break the
cycle and just stop buying crap. You got
to stop buying stuff. Now, it’s not that I
want you to live frugal so that you
can’t enjoy things in life. But I am
telling you to give yourself a period of
time you left. Give yourself 5 years
where you’re going to delay gratification
then learn how to be happy
without the monetary stuff and inves,t it
in stuff that gives back. Here’s the rule:
Put your money and things that pay you
back. Money, interest, return. Do that and
that’s how you want to make your source
of extra income. If you don’t, you’re
going to trade your time and you’re going to
trade your things. And in the end, you’re
going to get the short end of the stick and
you’re not gonna get the things in life
that you want. One of the things that I
wrote about in this book was the exact
way that I went from renting a place to
living for free and it was like 3
times bigger the place. So, I was living
for free then I bought a property that
was paying me $600 a month residual
income. And then I kept buying each
property after paying me another $500
and it started stacking up. After I had
about $12,000 a month, I
said, “Dude, I need to document this.” So, I
helped 50 other people duplicate exactly
what I was doing and then I wrote this
book along the way and basically said,
“Hey, if you want more money in your life,
you could do something small like you
could buy a fidgets spinner for a buck
and sell it for five bucks. And you’re
not going to get a lot of extra money.”
But with a little more effort, you could
do the same thing in real estate which
is the biggest and most expensive
commodity and buy yourself financial
freedom. I’ll be honest as riding it
because I was tired of answering all my
friends questions. And I’m like, “Dude, I’m
just going to write a book.” And so that all
of my friends and everyone else that
comes after can actually get all their
answers right here. I wrote this book for
you. And I’m actually making it a free
gift to you. All you need to do is
actually click the link below and it’s
going to document a strategy. The documented
strategy is all about how you buy
properties with Max cashflow which
basically means max extra money. I have
some people that literally just go and
buy 4 or 5 homes so they can have
an extra couple thousand dollars a month
to augment their lifestyle or put their
kids and dance or just buy something or
doing something different or have a
different lifestyle. So, if that’s important
to you, this book is yours. It’s free. As
well as just a consultation talk to my
team and say, “Hey, can you guys like step
by step help me actually do this?” And the
answer is yes we can. So hopefully that
answers your questions on different
ways it’s my perspective on how to get
some extra money. Every time I want more
money,
I just think, “Great. I just need to buy
another deal or 2 and then I’m going
to get it coming back royally.” Hey,
thank you so much for watching today’s
video. I hope it was useful. I hope it was
insightful and shared more of the
mindset of what it really takes to
create permanent extra money on a
regular basis so you can create the life
that you want. I feel very fortunate in
my life that I grab hold of this
information and I ran with it and now
every year it’s amazing how much more it
continues to get back. Get in the game of
investing. Make your money work for you
not your time. Your time is yours. It
should be for you living the life that
you want. If this is a helpful video for
you, make sure that you are a subscriber
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video that comes out to help you become
more of the man or woman that you want
to. Take care of my friends. We’ll catch
you on the next video.