The Pros and Cons of Private Lending as a Passive Income Stream with Liam Leonard

If you had to choose between a lucrative, high-profile job and spending time with your family, which would you choose? While many would want to be with their family, the pressure of earning money often gets in the way. But what if you've built enough nest egg? Where would you invest the money to build a passive income stream? Does the thought of lending your money for a fair rate of return appeal to you? If you're interested in trying it out, join Russ and Joey today as they chat with Liam Leonard, founder and CEO of LIONSCOVE. Before LIONSCOVE, Liam held executive positions at T-Mobile across various functions, which gave him excellent leadership training that proved useful when he decided to build a business.

Why private lending is an excellent path to creating passive income

How do you know if a deal is good?

How to protect your interest as a lender

Liam Leonard

Liam Leonard is the leader and visionary for LIONSCOVE. He established LIONSCOVE because he wanted to have a greater impact in his community and free himself from the mental model that organizations make choices for you. He wanted to create something that didn’t necessitate being on the road all the time or tied to his phone. Family comes first, and that’s precisely the culture Liam has established at LIONSCOVE.

Round Table | Which Passive Income Stream will I Fall in Love With?

Have you set your heart on a passive income stream that will get you to financial freedom? What makes you so sure about it? Unfortunately, people usually get excited about good deals without truly understanding what makes it a good investment. There are many passive income ideas that you can explore. But first, you must know which one you're compatible with and choose the one that best suits your Investor DNA. Much like falling in love, finding the right one involves compatibility and commitment. Don't get involved with too many things at the same time. If you need help finding the right opportunities, join a community of like-minded people who can help open your eyes and heart to your true path to financial freedom.

How do I find passive income streams?

What are my options?

How committed should I be?

How to Build a Passive Income Business as a Husband and Wife Team with Daniel & Danielle Wells

When you have four young kids, you would naturally do whatever you can to give them a better future. You will sometimes come up with so many ideas that you can't wait to pursue. And there's definitely nothing wrong with trying different things. But how many times can you take action in the wrong direction before you run out of luck? You just can't afford it. When you don't understand your Investor DNA, you will end up chasing different investment opportunities and get frustrated when things do not work out. So if you're interested in finding your path to financial freedom, listen as this couple–Daniel and Danielle Wells– share how they built a passive income business. They share their winning process so you can accelerate your success.

You must stop building other people's businesses and become the architect of your own future.

Whatever state you are in now, you can succeed if you put in the work.

How to teach your kids lessons about entrepreneurship and earning money

Daniel and Danielle Wells

Daniel and Danielle Wells are both Wealth Without Wall Street Community members. They quit their nine-to-five jobs to start their short-term rental business to give their young family a better life. The couple learned about the short-term rental business from the STR course offered inside the community. After finding success in their short-term rental business, they are now looking into land investing with TheLandGeek. Connect with Daniel & Danielle Inside the Community: Wealth Without Wall Street Community - https://www.wealthwithoutwallstreet.com/community

Round Table | The Infinite Banking Concept Simplified

How would you feel if you were running your own bank? If you have no idea about it but want to know how to implement it, this episode is exactly what you need. Today's conversation is about the core of the Infinite Banking Concept (IBC) and how to become your own banker, as discussed in R. Nelson Nash's book. A number of wealthy people use this concept to grow multi-generational wealth and create financial freedom for themselves and their children. So get ready to find out more about the Infinite Banking Concept.

What problems does Infinite Banking solve?

How can I implement Infinite Banking?

What are some of the big wins of people doing Infinite Banking?

The Aha Moment to Building a Massive Rental Portfolio with Pace Morby

Are you interested in buying properties without using your own money? Many people are learning how to use other people's money to invest in real estate. If you're willing to learn, there are creative ways to finance your purchases. Today's guest will show you how in this episode of Wealth Without Wall Street. Pace Morby is one of the hosts of the TV show The Triple Digit Flip. He is originally a contractor who was hired on as a flipper for some popular iBuyer portfolios. Pace flipped over a thousand homes a year but did so without building any wealth for himself. Then he had an aha moment which started him on his path to building his rental portfolio using creative financing strategies. He was first featured in this podcast in May 2020 (Episode 139), where he talked about Creative Financing Options for Real Estate Investors. Now he's back to share a few more of his most memorable stories about closing deals using creative financing, specifically Subject To. If you want to try real estate investing but need more capital, this episode will open your eyes to unlimited possibilities.

It's never about the house. It's always about the situation.

How to structure a deal, so it's a win-win situation for both the buyer and seller.

The value of a compelling story and a genuine offer to help

Pace Morby

Pace Morby is originally a contractor who was hired on as a flipper for some popular iBuyer portfolios. He flipped over a thousand homes a year but did so without building any wealth for himself. That's when he began flipping his own houses and slowly, steadily building a portfolio of rentals that would provide him with the cash flow he desired without bank financing. Pace has mastered the art of creative financing and built a massive portfolio using a 100% creative financing approach. Connect with Pace Morby: Website - https://www.subto.com/ Triple Digit Flip - https://www.aetv.com/shows/triple-digit-flip

Round Table | I Don't Think I'm An Entrepreneur. How Can I Create Passive Income?

Passive income is an excellent way to generate extra income, whether you have a side hustle or a small business venture that gives you additional cash flow each month. With passive income, you can have money coming in even while you pursue your nine-to-five job. Then, when you can finally build up a solid passive income stream, you might want to leave your full-time job. Either way, a passive income gives you that security. If you think you must be an entrepreneur to create passive income, that's not exactly the case.

What is an entrepreneur?

Do I need to become an entrepreneur to create passive income?

Where can I create passive income regardless of being an entrepreneur?

11 Different Ways to Build Passive Income

Building passive income streams is something that many people want to achieve. But first, let's be clear that passive income ideas require an upfront monetary investment or time investment. How do you start investing in something that will bring you consistent income without much effort on your part? In this episode, Russ and Joey talk about their 11 passive income streams, which brought them $523,201 net income for 2022. Listen up as they discuss the pros and cons of investing in each income stream and see if something would work for you. Focus on one thing at a time, then explore other opportunities as you grow your wealth. Here are the 11 Ways to Build Passive Income: Land Flipping Short-Term Rental Management Business Cryptocurrencies Syndications House Flipping Long Term Rentals RV Rental (Cousin Eddie) Information Business Ecommerce YouTube

Different paths to financial freedom

Why you need to invest in experts/ hire an operator

The right time to create a course

Round Table | Inner Circle Live Biggest Takeaways

What was the first live event you attended this year? How was the experience, and what was the most memorable thing, lesson, or conversation you had from that event? As Russ and Joey would say, live events change lives. If you missed joining the Inner Circle Live Event, this is your chance to hear valuable ideas as the Wealth Without Wall Street Team shares their biggest takeaways. Feel their excitement as each of them experienced light bulb moments while sitting in the room with experts in the different fields of investing and passive income opportunities.

Real Estate - Turnkey Rental and Land Flipping

Creative Finance/ Real Estate - BRRRR Strategy

E-Commerce - Building an Amazon Business

What Passive Income Strategies Will Work in 2023 with Dave Zook

As you think about your strategies for building wealth in 2023, you might want to consider doing syndications. If you need help with how it works and why it's an excellent investment strategy, today's guest can help you. He will also share what passive income strategies will work in 2023, what asset classes he's personally considering, and a few more helpful details on navigating the world of investing. Dave is a returning guest. He was first featured in September 2020, where he talked about how ATM investing works. He is the founder and CEO of The Real Asset Investor, a company that helps bring investors higher-yield investment opportunities across several asset classes by partnering with experienced operators.

What makes a good Operator?

Why it's a good idea to invest in self-storage and car wash

Creative ideas to build your wealth in 2023

Dave Zook

Dave Zook is a successful business owner and an experienced real estate investor active in multi-family apartments, self-storage, and the ATM space. He has acquired more than $100 million worth of real estate since 2010. In addition, he is a renowned and trusted professional resource in the Automatic Teller Machine (ATM) investment market where they have deployed more than $90 million of investor capital. Dave is also a #1 Best Selling Author. He lives with his wife Susan and their four children in Lancaster County, PA. Connect with Dave Zook: Email - info@therealassetinvestor.com Website - https://www.therealassetinvestor.com/

Round Table | Coaches Quarterly Passive Income Update

Would you ever have a mentor who has yet to do or be where you want to be? Of course not! The easiest way to know that you're working with the right Financial Freedom Coach or mentor is when your goals and aspirations are aligned with theirs. When they can show you what they have accomplished using the systems and processes that they are teaching you, and they live the life you envisioned for yourself, you know you're in good hands. As you evolve and grow, you may also need to work with different mentors. So, where do you find these people who can lead you to the right path in 2023?

What they did in Q4 2022 that they will continue to do in 2023

What is their overall financial freedom strategy?

What is their market outlook, and what are they excited about as we start 2023?

Oil & Gas Produce Independence, Cash Flow, and Tax Savings with Eric Rice

With the different passive income ideas out there, have you ever thought about investing in the Oil & Gas industry? If you want to know how to participate in this type of investment, this is your opportunity to learn from Eric Rice. He is the Chief Growth Officer at King Operating Corporation, an independent oil and gas operator with over twenty-six years of experience developing and producing oil fields in Texas, Oklahoma, Kansas, Colorado, and Wyoming. This episode is for you if you are interested in exploring a new investment strategy that offers cash flow and tax savings. At the same time, you get the chance to be a patriot and help fight the tyranny of the energy crisis we are in.

The benefits of investing in energy

How can you get involved in this type of investment?

What are the risks and the exit strategy?

Eric Rice

Eric Rice describes himself as having a flair for the unconventional. He sees things differently and finds opportunities that create lasting impact. He is the Chief Growth Officer at King Operating Corporation, an independent oil and gas operator with over twenty-six years of experience developing and producing oil fields in Texas, Oklahoma, Kansas, Colorado, and Wyoming. Eric has a vast experience in business development and exploring new opportunities every day. Connect with Eric Rice: Website - https://www.wealthwithoutwallstreet.com/KingOperating or https://www.kingoperating.com/

Round Table | You've Got Questions, We've Got Answers

If you've heard about the Infinite Banking System as a tool to build passive income but still have questions, this episode might have the answer you seek. Today's conversation answers questions many people ask when they first hear about IBC and how to build passive income. It's time to clear those doubts, get answers to your burning questions, and take action. 2023 is the year you move forward with your financial freedom journey; it all begins right now.

Should I put my money on IBC? How soon can I get it back? When do I have to repay it? Personal vs. Business Policies–who owns the asset?

Which passive income opportunities should I pursue?

Should I consider VUL, which offers a higher return, instead of putting my money in whole life insurance?

Is Crypto Dead? with Bob Burnett

Is it the end of crypto? Cryptocurrency has always been volatile. However, 2022 has seen the most unpredictable changes in the prices of popular cryptocurrencies. In fact, some crypto companies are facing bankruptcy because of the plunge in prices. What caused the downturn? Will the crypto market ever recover? Listen to this insightful conversation between Russ, Joey, and their guest, Bob Burnett. Also known as “Bitcoin Bob,” he is the founder and CEO of Barefoot Mining, a company focused on developing “horse-class” mining sites. Bob is a vocal proponent of expanding diversity in Bitcoin mining site geography, scale, and energy sources. He has founded several companies in the Bitcoin mining space and is an evangelist and educator for Bitcoin and its importance to the world’s future.

Updates and trends in the crypto space

Ways to use Bitcoin to create passive income

Three places where you can store your Bitcoin securely

Bob Burnett

Bob Burnett is the founder and CEO of Barefoot Mining, a company focused on developing “horse-class” mining sites. He is a vocal proponent of expanding diversity in Bitcoin mining site geography, scale, and energy sources. Bob has spent over 35 years as a technologist, including 13 years at Gateway, Inc., a Fortune 200 personal computer company, where he led the company’s product development efforts as Chief Technical Officer. Bob has founded several companies in the Bitcoin mining space and is an evangelist and educator for Bitcoin and its importance to the world’s future. Connect with Bob Burnett: Website - https://www.barefootmining.com/

Round Table | Why You Should Not Make New Year's Resolutions for 2023

As we start the New Year, people from all walks of life write down their New Year's Resolutions for 2023. It has been a practice for a lot of people year after year. What about you? Do you believe in making New Year's resolutions? Why do you think many people fail at keeping up with their resolutions? Is there a better way to plan and achieve what you want? You will find the answers to these questions in today's round table.

Things we can learn or avoid in the coming year

Practical advice so you can pursue and achieve your goals for 2023

Ways to not fall short of the goals you have set for yourself

Our Passive Income Report - November 2022

It's almost the end of the year, and it's time to evaluate what we have achieved and decide what we need to start, stop or continue as we begin the New Year. Russ and Joey have come a long way since the first time they shared their Monthly Passive Income Report. To this day, they have never stopped giving value, sharing passive income ideas, and allowing people to take a look at their numbers so they can inspire those who want to achieve financial freedom. Wherever you are in your journey, the Monthly Passive Income Report is a source of valuable information and actionable items to help you along the way. Have a Prosperous New Year! November 2022 Income At-A-Glance: Gross Income for November: $102,896.69 Total Expenses for November:$61,558.16 Total Net Profit for November: $41,338.53 Difference b/t October & November: ($400.47) % of net profit to overall gross revenue: 40%

Round Table | 3 Ways to Increase Your Cash Flow

Is there something more important than profitability? It's cash flow. It's a critical indicator of your overall financial health. Knowing what affects your cash flow and having the ability to limit unnecessary cash outflow can help you prepare for challenges. But more importantly, you must continuously find creative ways to increase your cash flow to fund your investments and grow your passive income streams.

Increasing your Active Income

Reducing Overhead

Creating Passive Income

The One Skill You Should Learn Right Now to Buy Real Estate in a Recession with Jeff Stephens

Is the deal worth doing? This is a question we must ask before engaging in a transaction. However, we often chase after things that are not worth our time and later regret it. So how can we save ourselves from such a predicament? Follow the advice of today's guest, Jeff Stephens, to determine if you should move forward with the deal or not. Jeff is the Founder of The Thoughtful Real Estate Entrepreneur and host of the podcast Racking Up Rentals. He is a full-time real estate entrepreneur and real estate investing mentor, coach, and podcaster. Jeff was previously featured in Wealth Without Wall Street Podcast Episode 196 and is here today to continue the conversation. In this episode, Russ and Joey chat with Jeff about buying off-market property without a mortgage. Take advantage of the opportunity to discover the one skill you should learn to succeed in real estate in a recession.

The Magic Seller Relations Question

The importance of Negotiation Dynamics

Strength-Based Investing

Jeff Stephens

Jeff Stephens has been a full-time entrepreneur since 2003. He ran a marketing agency for ten years, specializing in brand strategy for community banks and credit unions. In 2006, Jeff discovered “Rich Dad, Poor Dad,” which changed his life. He immediately began devouring education about real estate investing and quickly bought his first rental property–a triplex in Portland, Oregon. In 2013, Jeff sold his marketing agency and transitioned to full-time real estate entrepreneurship. Connect with Jeff Stephens: The Thoughtful Real Estate Entrepreneur - https://www.thoughtfulre.com/ The Deals Workshop - https://thedealsworkshop.com/

Round Table | All I want for Christmas is....

Christmas is only a few days away, and you're probably wondering if you've got gifts for everyone on your list. Will they appreciate your gift? What about you? Have you thought about what to give yourself? We often think about other people more than ourselves. But there's nothing wrong with wanting something, especially when it comes to achieving your goals. So start thinking about yourself and invest in a course, coaching, or mentorship program to help you reach financial freedom.

Why is it important to focus on yourself this Christmas?

What's one thing you can look back on that has helped you achieve more financial success?

Success stories of people who have invested in themselves

Making Money In Your Underpants with Tate Litchfield

Sometimes we are compelled to make a decision that would forever alter the direction of our lives. And that's the very thing that happened to Tate Litchfield, a successful student of The Land Geek Program who has built passive income by applying what he learned from Mark Podolsky. But before that, Tate was supposed to go to Law School, So what made him change his mind? And why land flipping? Tune in to find out the full story in today's episode of Wealth Without Wall Street. Let's dive in!

Parental support is a crucial factor in a child's success.

Learning from great mentors gives you a competitive edge and helps you become more successful.

To succeed, you must take action and have the will to win.

Tate Litchfield

Tate Litchfield has a degree in international relations and was supposed to go to Law School, but something happened that made him decide he doesn't want to go back to school. So he searched for a more viable option and discovered land flipping. Tate is one of the star students of The Land Geek Program. Applying what he learned from Mark Podolsky, Tate has built a massive passive income stream investing in raw land. He loves riding and racing his bike and traveling in his free time. Tate is a cyclocross and road racer for the Allegiant Airline cycling team and is constantly looking for new adventures.

Round Table | Best Practices for Year End Wrap Up

It's the last month of the year, and it's time for reflection. Looking back, what are you thankful for? What do you wish you could have done differently? What are your plans for next year? A year-end review is crucial before you do any strategic planning for 2023. How will you know what to change if you don't do a year-end reflection?

What's one thing you took advantage of that has significantly impacted your life?

What resources, technology, or tactics have helped you that you would like to recommend to others?

What best practices can you share?

Resources: The Compound Effect by Darren Hardy - https://www.amazon.com/Compound-Effect-Darren-Hardy/dp/159315724X The Gap and The Gain by Dan Sullivan - https://www.amazon.com/Gap-Gain-Achievers-Happiness-Confidence/dp/1401964362 Microsoft To Do - https://todo.microsoft.com/tasks/