Joe Fairless, Co-founder of Ashcroft Capital, manages $2.7B in apt communities, founder of the longest-running daily real estate podcast, and has a mantra “live to give”.

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Guest Resource

Ashcroft Capital – Multifamily Investment Firm.

3 Value Bombs

1) The key to successfully shift from active to passive wealth is to leverage partnership. Find the right partners that are doing the things that can help you create and grow your wealth.

2) Rethinking time and money starts with how you value your time as much or more than you value your money. You will then be able to flip the script on your processes and be more focused on passive income.

3) Time is the most precious resource we have and as we are actively building our business, it is important to be mindful of the time we are investing into and to also have something working on the side to help us create passive income while were building the active income.

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Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: How to Transition from Active to Passive Investing While Running a Business

[1:12] – Joe shares something that he believes about becoming successful that most people disagree with.

• He doesn’t believe in the advice that ‘how you do one thing is how you do everything’. When he is into something, he is all in but if he is not, he don’t participate and put focus in it.

[2:21] –  Joe talks about why entrepreneurs struggle to build true passive income.

• As an entrepreneur in the early days, his focus was on activities that were not scalable but needed to be done and he was very hands on on things. That mentality can lead later to not being as focused on the passive side of things because its not how we are wired.
• Entrepreneurs have the mentality of getting things done and being actively involved in the business.

[3:13] – Joe talks about the secret to successfully shifting from active wealth to passive.

• The key is to leverage partnership. To find the right partners that are doing the things that can help us create and grow our wealth whenever we are still building what we are building.

[3:51] – Joe gives an example of this.

• He has two businesses as an entrepreneur. One is his best ever brand – a commercial real estate advice for commercial real estateand real estate investors which is a conference podcast. The other business is a multifamily syndication company where they buy apartment buildings and partner with investors.
• What he has done in the passive side is coming across to people he wanted to invest with because he is learning things from them along the way.
• He became a passive investor over a 100 deals with other people . It allowed the active involvement of his business to bet out passive opportunities along the way to branch out to other multifamily operators and other markets that he is not in.

[5:42] – Joe tells more about rethinking both time and money that can unlock freedom.

• Its hard for entrepreneurs to not being actively involve that much. When you rethink it , it starts with how you value your time as much or more than you value your money. You will then be able to flip the script on your processes and be more focused on passive income.

[7:50] – A timeout to thank our sponsors.

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[10:47] – Joe  share some real examples of balancing a business whileacquiring passive income.

• His approach is to acquire the money to grow the business and then simply put that money into other deals.
• The key in the beauty of passive income partnerships is in addition to creative passive income, it can also help you create more income in your business or wherever you are focused on.  For example, in his industry of building apartment syndication, he is also investing in other operators in other markets and he is learning from them by knowing what markets are working, what type of properties are generating the best income. As a passive investor, he is getting a lot of information from those investment which he can apply actively to his business and make more money actively too.

[13:11] – Joe shares how to know when a great passive investment opportunity presents itself.

• The No. 1 will be the track record. Some successful capitalist don’t invest in a group if they didn’t have an exit and that is the rule they have.
• 2 is simply understanding the business model, because if you don’t, it might not be the right investment for you.

[14:19] – Joe talks about the simplest way to start building passive income today.

• Whatever you are doing as an entrepreneur, look at it and identify what are the ways that you can invest passively in that industry or a similar type of industry. For him, he actively invest in apartment buildings, therefore he can confidently look at passive investments into apartment buildings.
• Leverage your area of expertise and see what type of other passive opportunities are there in that area.

[15:47] – Joe gives his key take away.

• Time is the most precious resource we have and as we are actively building our business, it is important to be mindful of the time we are investing into and to also have something working on the side to help us create passive income while were building the active income.

[16:24] – Call to action.

• Ashcroft Capital – Multifamily Investment Firm.

[17:02] – Thank you to our Sponsor!

• ThriveTime Show: Become the next success story, schedule a free consultation and request tickets to join Football Star, Tim Tebow & President Trump’s Son, Eric Trump at Clay Clark’s next business conference today at: ThrivetimeShow.com/eofire!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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