Discover a game-changing insight into income in the real estate industry.
In today's discussion, we delve into an intriguing concept within the real estate industry – passive income and running a real estate team. Many of us have encountered the book "The Millionaire Real Estate Agent," and if you're like me, your interpretation of passive and active income might have evolved over time.
At first glance, it might seem that running a real estate business can be neatly divided into active and passive activities. However, upon deeper reflection, this distinction may not be as clear-cut as it appears. Instead of categorizing tasks into active or passive, consider a different perspective: leveraged vs. unleveraged activities.
"The real estate landscape isn't just about active or passive income; it's about finding the right balance of leveraged and unleveraged activities."
In this context, the key question becomes, "How leveraged is my income?" This shift in mindset can make a world of difference. If you choose to be a single agent, you can leverage your income by turning your earnings into real estate investments. This approach, while not entirely passive, offers a higher degree of leverage compared to other options.
Conversely, if you're building a real estate team, your path to leverage involves investing in others. It's essential to understand that, initially, your dollar-per-hour activity may decrease as you expand your team. This transition can be frustrating, leading some to question the worth of building a team. However, even if team-building isn't your preference, you should still explore ways to leverage your income, such as real estate investments.
The key takeaway here is that the real estate landscape isn't just about active or passive income; it's about finding the right balance of leveraged and unleveraged activities. If you'd like to explore this topic further or have a detailed conversation about optimizing your real estate business, I'm here to chat and share insights on partnering with teams to enhance per-dollar-per-hour activity. Let's take your business to new heights.
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