Jerry Fetta- How to Get Easy Passive Income
Passive income has been a buzzword since the late 1990’s. Rich Dad Poor Dad was one of the first books to really put the discussion on the map for the majority of Americans. I helped a client take a $30,000 IRA and turn it into $250/mo of passive income. It took me years to learn how to do this and during the meeting we discussed how he would pay less than he was paying in fees, have a better return, be more secure, and actually have collateral in the event the deal goes south. Here is the problem, people understand that passive income is apparently real, but most people actually put themselves in financial danger trying to achieve it. I’m going to share with you how passive income can be created and how I learned to create it.
1. Get money. To earn passive income you need at least $25,000…at least the way I do it. The way I do it, you’re going to take your money and lend it to an investor. That’s right! You won’t invest in the asset yourself. You’re going to let someone else do all the work. Why? Because passive income doesn’t pay enough at this level to warrant your full attention. If you haven’t done the math, my client makes $250/mo on his $30,000. Let’s venture to say that he could even double it! $500 is not enough to pay you to do the work. Let someone else do the work. Your job is to get money. You can start most investments at $25,000, but you SHOULD start them at $50,000 if you’re really serious about wealth. Get to $50,000.
2. Find an investor with an income producing asset. You are functionally a bank at this point. You will need to scout deals and find investors. You need people who need money, who have investments, who have experience in investing successfully, and who have a track record of being ethical with their money. This is called “underwriting”. You need to have a system and know what to look for to determine what is a smart investment and what is not a smart investor. Why? Because you’re going to lend money to this investor and you need to know that they’ve made money in investments before, that they pay people back, and that they have a good deal on their hands for you to lend money to. Underwriting is the most complex part.
3. Lend the money. This may seem simple, but this is where stuff can get weird fast if you don’t really know what you’re doing. You need the proper legal documents to ensure that the terms, conditions, and collateral are clearly defined, agreed upon, and legally binding. Without these documents, you can get burned and you may not be able to do anything about it. That’s the first part. The second part is making sure the accounting is done correctly. This is especially important if the money is coming from an IRA. The money needs to leave your account, go to the investor, and the interest must be paid back to the account it started in. You’ll most likely want an escrow company involved in this.
Why am I sharing this with you? Because, I want to show you what I do for my clients. If you’re like me and you’re busy and producing all day, you don’t have time to go do all of this. That’s why I built my company to provide this exact service. My client that invested the $30,000 did not have to do any of this. He came in, signed a letter of intent, and my team is doing the entire thing for him. This is true passive income and in all of my years of experience and research, I’ve not yet seen a more passive stream of income.
I want to give you more information about investing this way. And if you’re not at the level where you have $50,000 invested, I want to help teach you how to get there. I would like to schedule a 15 minute consultation for FREE with you. During this consultation, my team will review a 37 question wealth potential analysis to determine exactly where you are right now with your wealth, and uncover what needs to happen to achieve your goals. Click here and you will be directed to my contact page. Submit a contact request and we will call you the same day and schedule a time for your free analysis.
Own Your Potential,
Grant Cardone Certified Coach
Jerry Fetta helps his clients make money, keep it, and multiply it.
He believes everyone should own their potential. He believes you were not created to spend 40+ hours per week serving the 40-year-to-life sentence trading your precious time for money just to live in mediocrity.
However, the truth is that time and money must be exchanged. It just doesn’t need to be you making the exchange.
Jerry helps his clients create wealth that exchanges time and money on their behalf.
His clients see a 30% increase in income, a guaranteed increase in savings rate, and 8-12% fixed annual returns on their assets in the 1st 90 days of working with him.
To get started, go to www.WealthDynamX.com/potential