From the archive: This episode was originally recorded and published in 2019. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.
Danny Randazzo is an author, entrepreneur, host of a mastermind, national speaker, and volunteer. His financial freedom journey started at five years old, and today his company owns $130,000,000 in real estate.
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Passive Investing – Danny’s website, where he shares how to passively invest in real estate!
The Boy Who Lost His Wallet – Danny’s book
3 Value Bombs
1) Everyone is responsible for their own success, their own freedom, and their own finances.
2) You cannot force finding the right people to work with. It needs to be a natural progression.
3) Make a change today that can benefit you and your family for generations to come.
HubSpot: Customer expectations are at an all-time high, and making things easy is how you’ll win. Learn more about how HubSpot can help your business grow better at HubSpot.com.
Thrivetime Show: Is this your year? Visit ThrivetimeShow.com/eofire to see how Clay Clark’s business coaching helps thousands of entrepreneurs to dramatically increase profitability.
ZipRecruiter: Outstanding talent is crucial for a successful business. And if you’re hiring, you can find talent for any role at ZipRecruiter. Try it for free today at ZipRecruiter.com/fire!
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Today’s Audio MASTERCLASS: Achieve Financial Freedom by Working Less and Earning More with Danny Randazzo
[01:16] – Danny shares something interesting about himself that most people don’t know.
- He met his wife for the first time on a boat in Halong Bay, Vietnam. On that boat he told his buddy that he would marry that girl. A couple years later, they got married.
[02:32] – Why was Danny so interested in achieving financial freedom?
- It all started when he was 5 years old – he lost his wallet. It inspired his book The Boy Who Lost His Wallet, which is the number 1 new release in the education space for children on Amazon.
- Danny’s book series, The Wealth Lesson for Kids, is filled with real-life examples – things that happened to him throughout his journey to get to where he is today. It is the backbone of financial freedom for him.
- Everyone is responsible for their own success, their own freedom, and their own finances.
[05:22] – Danny shares a story about a business realization he had at 8 years old
- When he and his buddy were 8 years old, they stayed in university dorm rooms over the summer to attend camps.
- During the camps, their parents would load them up with a lot of snacks to survive for 3 days and 2 nights, which they sold to the other kids in the camp.
- That experience taught him that he has the ability to run a small business and generate income in several different ways.
[09:44] – What does defining the freedom number mean?
- Danny is used to getting the answer first and then figuring out the solution afterwards when it comes to math and solving a story problem.
- The freedom number, or your freedom goal, is how much income you need to generate to live.
- The financial freedom goal should always be updated as your life situation changes.
- Achieving that financial freedom opens your brain to creativity, fulfillment, and giving back to the community.
[13:06] – How do we get to that freedom number?
- The light bulb is really connected with real estate. Danny’s plan was always to use real estate to generate income in order to achieve financial freedom.
- You can passively invest in opportunities to build income streams that will help you slowly get to your target.
- Financial freedom is not a ‘get rich quick’ scheme.
[17:31] – A timeout to thank our sponsors!
- ZipRecruiter: Outstanding talent is crucial for a successful business. And if you’re hiring, you can find talent for any role at ZipRecruiter. Try it for free today at ZipRecruiter.com/fire!
- Thrivetime Show: Is this your year? Visit ThrivetimeShow.com/eofire to see how Clay Clark’s business coaching helps thousands of entrepreneurs to dramatically increase profitability.
- HubSpot: Customer expectations are at an all-time high, and making things easy is how you’ll win. Learn more about how HubSpot can help your business grow better at HubSpot.com.
[17:24] – Danny talks about his financial freedom journey.
- It was an obsession for him to have investments that would slowly help him build a portfolio that generated enough income to pay his expenses.
- They didn’t have an exact plan, but making the initial effort and being open to change and embracing the journey allowed them to grow and acquire more assets, build a portfolio, and get to where they are today.
[22:27] – What was the defining moment of Danny’s journey from zero to $130 million?
- The defining moment was when he felt that tipping point in his gut, and it came when he was surrounded by the right people.
- Meeting the right people and forming the right team was exactly what they needed for the business to take off and get to where they’re at today.
- You cannot force finding the right people to work with. It needs to be a natural progression.
[25:39] – Developing the freedom plan and taking action on that plan.
- The best education is through real life experiences.
- Educate yourself, but then go and take action. Be involved in the business in some way so you can use that experience to your benefit.
[28:10] – What does Danny have to say to those who were building their real estate portfolio to generate income?
- Don’t believe what you see on HGTV.
- If you’re interested in building a real estate portfolio, you’ve got to be educated first.
- If you’re interested in investing passively in real estate, go to PassiveInvesting.com where Danny and his team provide info on how you can passively invest in real estate!
[31:07] – Danny’s parting piece of guidance
- Financial freedom and financial responsibility are your own ownership. Do not rely on other people to be responsible for it.
- Make a change today that can benefit you and your family for generations to come
[36:39] – Thank you to our sponsors!
- Thrivetime Show: Is this your year? Visit ThrivetimeShow.com/eofire to see how Clay Clark’s business coaching helps thousands of entrepreneurs to dramatically increase profitability.
- HubSpot: Customer expectations are at an all-time high, and making things easy is how you’ll win. Learn more about how HubSpot can help your business grow better at HubSpot.com.
Boom, shake the room, Fire Nation. JLD here and welcome to Entrepreneurs On Fire brought to you by the HubSpot Podcast Network with great shows like Being Boss. Today, we're pulling a timeless EOFire classic episode from the archives, and we'll be breaking down how to achieve financial freedom by working less and earning more to drop these value bombs. I brought Danny Randazzo into EOFire studios. Danny is an author entrepreneur host of a mastermind national speaker and volunteer his financial freedom journey started at five years old. And today his company owns $130 million in real estate. And today Fire Nation, we'll talk about why everybody's responsible for their own success, own freedom, own finances, and how to find the right people to work with.
And then also how to benefit you and your family for generations to come and so much more. When we get back from thanking our sponsors. Is this your year? Visit ThrivetimeShow.com/EOfire. To see how Clay Clark's business coaching helps thousands of entrepreneurs to dramatically increase profitability it's month to month and less money than hiring an average minimum wage employee. Schedule your free consultation today at ThrivetimeShow.com/EOfire. Business made simple hosted by Donald Miller takes the mystery out of growing your business. Recent episodes like how to attract and retain top talent and how to make more money with your current products are straight fire.
0 (1m 28s):
Listen to business made simple wherever you get your podcasts. Danny say what's up to Fire Nation and share something interesting about yourself that most people don't know
1 (1m 41s):
Fire Nation. Thank you so much to JLD for having me on, I am ecstatic to be here with you today and shed some light on what we've got going on. One thing that most people don't know about me is I actually met my wife Caitlin for the first time ever on a boat and how long they Vietnam. We met for about 12 hours on the boat. I told my buddy that I was traveling with that. I would marry this girl one day and a couple years later. Sure enough, I married her and the rest is history. So I'm always just opened a new adventures and experiences and meeting her randomly on a boat in Vietnam, halfway around the world.
1 (2m 24s):
From where we both lived in San Francisco at the time was amazing.
0 (2m 27s):
What a love story, a Fire Nation. How can you not love that? So killer. And as we mentioned in the introduction, we're going to be talking about achieving financial freedom by working less and earning more. So you can do things like go to Vietnam and potentially meet your soulmate by her nation. That's what it's all about. So just take us back to the beginning, Danny, why did you become interested in financial freedom in the first place?
1 (2m 56s):
Financial freedom for me started when I was five years old with a very traumatic experience. When my net worth went from about $120, just following my fifth birthday to $0, I, I lost my wallet. I was destroyed and learned so much from that event. At the age of five, I actually had to write a children's book about it. And so my recent book, the boy who lost his wallet is available on Amazon. It was a number one new release in the education space for children. And it talks about how people are responsible and need to protect their money.
1 (3m 37s):
And my book series, the wealth lessons for kids is kind of real life examples that happened to me throughout my journey in life, to get to where I am today. And it's really the backbone of financial freedom for me, that I was just obsessed with day in and day out. And I think it's an area that's not talked about enough in schools or within the country or the world. And, you know, I want to break down that barrier to having money conversations with people and you know, how you socialize, how much money you make every month. I think that's so cool for people to be able to see and really take those lessons and apply them to their life, to really monitor their income and expenses so they can live a financially free life and focus on adding value to so many people around them.
1 (4m 32s):
And I think, you know, everyone is responsible for their own success and their own freedom and their own finances.
0 (4m 41s):
I love that. And it's so true. Fire Nation, financial independence does truly equate to freedom because when you have indeed independence from having to worry about, Hey, where's that next dollar going to come from? How am I going to pay next month's rent or mortgage or car payments or fill in the blank. And you're just like, okay, I have what I need right now for the foreseeable future. I have the freedom now to do what I want to do. Maybe try a new job and maybe test a new thing that I have kind of rallying around in my head. Maybe travel somewhere that I'm passionate about. Maybe take some time off for me, maybe focus more on health and self-care, which are things that I've been focusing on a lot the past couple of years, because I have that freedom to do so.
0 (5m 26s):
I'm not having to wake up drive two hours somewhere and sit in a cubicle at a job. I don't like to commute back, have that stress and anxiety is that financial freedom. That's so key. And Danny, you mentioned that you wrote about a lot of stories that you experienced throughout your life in this children's series. Tell us one of those, just one that you kind of enjoy using Fire Nation will relate to. I mean, I really love the story about you losing the $120 and what that meant to you back at five years old, but tell us
1 (5m 57s):
Another one making meaningful. The immediate one that comes to mind is the wealth lesson around earning money. And my buddy and I actually the same one that I was traveling in Vietnam with when I met Caitlin, he, he was my best friend since five years old. And when we were about eight, seven or eight, we played ice hockey growing up in Michigan. And we went to the university of Michigan. We stayed in the university dorm rooms over the summer and the college hockey players kind of hosted us and took us to practices and conditioning camps and off ice trainings. Well, our parents loaded us up with snacks, Gatorades, cookies, chips, things to survive while we were there for, I think, three days, two nights and three days.
1 (6m 48s):
So we went in with coolers and all sorts of food and things that, I mean, we couldn't, even if we ate all day, every day and into the night, you wouldn't have gotten through all of the stuff our parents sent us with. So in the evenings, after our, our skates and our workouts, my buddy and I set up in the dorm rooms, we had a captive audience, we set up our snack shop, the other kids' parents. Didn't send them with enough snacks to get them through the evening, but they sent them with money. And so we capitalized on that. I remember I sold a half-eaten bag of the snack size, nacho cheese Doritos with, with a half-eaten, can of the nacho cheese sauce to a kid for $5.
1 (7m 39s):
And at that point we crushed it and sales, we, we were selling Gatorade, sodas, chips, snacks, popcorn. I mean, we had the five floors of dorm room camp kids lined up down the hallway to come into our dorm room and do our little shop. I think I was handling the money making change. And my buddy was, was doing our sales tactics and, and work in the hallway and making sure everybody knew what kind of stuff we had and what the pricing guidance was. And so, you know, that lesson was just about the hustle and we absolutely loved it with these kids coming through and selling our stuff to them.
1 (8m 26s):
I remember we didn't even eat any of our snacks once we sold that first item because we were onto something so great. And it was, it was one of those lessons that I have so much appreciation for to be to where I'm at today and know that, you know, sometimes you may have a plan going in, but other times you just need to be kind of diligent and do whatever it takes to get a task done. And I know I can rely on that lesson of being able to run a small business and generate income and any type of way. And so I thought that was something, you know, so imperative to where I am today.
1 (9m 7s):
And it'll certainly be one of those lessons in the wealth lessons for kids book series about ways to make money as a youngster and, you know, really have control of your finances to maybe buy some of those things that you want, that hopefully your parents make you work for to get. And don't just give it to you.
0 (9m 26s):
It's all about supply and demand a Fire Nation. And I love that story because I can literally picture you just with like a Dorito half eaten in your mouth with like that can have cheeses right next to you and this kid coming up and being like, oh, I'll give you $5 for that. Right now, stop eating. And you being like ding light bulb moment went on and you're like, holy crap, we have a ton of supply. In guess what's standing here in front of us on these five floors is a ton of demand. Let's make this happen. I love that so much. So Danny, let's talk about defining our freedom number. What does that mean? Like this is something that you're super passionate about. You've written about it.
0 (10m 6s):
You've actually taken action and done it, but define it for Fire Nation and how we can actually define our own freedom number.
1 (10m 14s):
Yeah. The freedom number is so important and the way I have always done, you know, some of my basic math or solving a story problem is get the answer first and then figure out the solution and how you get there. And I remember in middle school and high school, I would always get in trouble for putting the answer to the problem down, but not telling them how I solved it and really unraveling what went on in my head to get that answer. And so I've always done problems that way and I continue to do them now. And so the freedom number or your freedom goal is really how much income do you need to generate to live.
1 (10m 55s):
And you alluded to it already that, you know, you take an inventory of what your, your rent payment is or your mortgage, or how much you spend on groceries in a given month. If you have other expenses like a cell phone, cable, internet insurance, anything that you spend money on in a month. And I add that up and I get to a freedom number. So let's just say, you know, for easy math, the amount you spend in a given month is $10,000. Well, what you can do is you work backwards to say what assets or what business activities can I set up that will generate income.
1 (11m 42s):
And I'm going to slowly and methodically build a system that generates $10,000 a month, so I can achieve financial and the financial freedom number and goal. I think you always have to check in on it and revise it. So as your life situation changes, right, let's say you up and leave from the US and moved to Puerto Rico. Well, you're probably going to have a little bit different expense than you had previously. And so you need to revise it. You know, let's say you have a child or you're caring for an elder parent while you may need to increase your expense number.
1 (12m 25s):
And again, figure out how to have your assets or your businesses generate the income that you need to cover those expenses. And then again, like you said, achieving that financial freedom opens up your brain to creativity, to fulfillment, to focusing on, you know, traveling or learning a new language or giving back to the community, helping with a nonprofit. And so again, the financial freedom number, it's whatever you spend in a given month, on average, a normal month, you get that written down in paper, and then you go back and you brainstorm what assets, what businesses, what ways can I generate income that I don't have to be working or exchanging my time for a paycheck for, to cover my expenses.
1 (13m 17s):
And that's your financial freedom?
0 (13m 19s):
So I like to use actual numbers and actual examples. Now, now I'm not talking about examples of a specific person, but let's create that avatar like this fictional person. And what would that look like, Danny? Like what would it look like for a person that, again, we're not talking about somebody who's actually gone through this real numbers wise, but what could it look like for somebody starting right now defining their freedom number and working towards it. And let's just use that $10,000 per month as an example, how do you get there?
1 (13m 50s):
Your freedom number needs to equal $10,000. And so how do we get started today? Well, you can evaluate a couple of different areas. So if you are an entrepreneur and your business or your sales passively add up to $2,000, you would count that towards the 10,000 that you need. So now we've got 8,000 remaining, let's say you are an experienced stock investor, and maybe you have some equity or capital saved up that you can buy a stock with.
1 (14m 30s):
And it's going to generate a dividend for you. And let's say that's maybe a thousand dollars. So now you're at two plus one, you've got 3000. So you've got 7,000 remaining. And for me, the light bulb really connected with real estate. And my plan was always to use real estate to income, to achieve financial freedom. And so when I was evaluating those different business opportunities, either from an entrepreneurship side, stock investing real estate investing, I tried to look at what some of the people before me did, right?
1 (15m 10s):
I'm not trying to reinvent the light bulb, but use a proven path to apply to my life, to get me to where I want to go. And for me, real estate was one of the ways that I saw a ton of successful people use to get to where they are today by generating income. And so real estate assets that generate income. So rental properties is a phenomenal way to build an income stream for you to achieve that $10,000. So let's say for instance, you, you have a hundred thousand dollars in your bank account and you want to invest in real estate to generate income for you.
1 (15m 60s):
Well, there's opportunities out there where you can passively invest in real estate. Let's say you really love your job and what you do. You don't have to quit your job and become a full-time real estate investor entrepreneur, but you can passively invest in opportunities to build income streams, where you're slowly going to get to $10,000 a month and maybe the first deal or the first investment that you make is going to generate a thousand dollars. And the next one is going to generate another thousand dollars. And again, financial freedom is not something that's a get rich, quick scheme or something that you can achieve immediately today and tomorrow you don't have to work anymore, but you can build it over time and really come up with a plan and stick to that plan.
1 (16m 56s):
And so for me, real estate was the way to do it. And I, you know, slowly and methodically acquired real estate assets that generate income to cover my expenses.
0 (17m 7s):
So I definitely want to dive into more of that journey because I think it's going to be a fascinating one. I mean, going from five years old, to owning $130 million in real estate, it does not happen overnight. Obviously Fire Nation. It's a process. And guess what success leaves clues. And we are going to discover and uncover those clues. When we get back from thinking our sponsor, I can't wait to travel this summer, but I know in order to make my trips great, I'm going to need help from those who know best the locals. Having a hotel concierge go above and beyond to help with transportation or getting the inside scoop on the best menu item from the waiter. These are just a couple examples of the people who can make your trip better.
0 (17m 49s):
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0 (18m 32s):
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0 (19m 19s):
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0 (20m 0s):
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0 (20m 43s):
I want you to take us on your financial journey. The one that started when you were five years old to where you're now sitting today with over 130 million in real estate. Talk about that, take us through that process.
1 (20m 57s):
You know, the process for me, I'm going to kind of fast forward from five to high school and just say I was always interested in,
0 (21m 5s):
But what about all those apartment complexes you bought when you were six years old? We get to talk about those, right,
1 (21m 10s):
Right, right. I absolutely wish I would've taken the money. I made from snack sales at the hockey camp and invested in real estate. And I think it would be worth so much more today because it would have had time to appreciate for so many years. But, you know, when I was growing up, I was just fascinated by investing and learning about finance and money. And so I naturally read books and educated myself. I went away to college, I got a business degree and finance and then kind of joined corporate America and was doing financial consulting for large fortune 500 companies on ways to improve their profit margin and operating efficiencies around their financial performance.
1 (21m 60s):
And so that experience really allowed me to better understand and know how large apartment investing opportunities work, knowing the ins and outs of the, the, the, the lenders that you have to work with, the underwriting that it takes, putting together, you know, detailed spreadsheets of how the investment is actually going to perform. And then of course the execution of the business plan, because as a financial consultant, you're not going to get paid unless you can deliver results. So that also helped me connect, you know, how we, how we develop a business plan, but then how do we hold ourselves accountable to get the results?
1 (22m 41s):
And so going through that process, working in corporate America, I was able to understand, you know, why people have such a drive to get to financial freedom, right? You're exchanging your time for money and you have no control over your time unless you take, you know, your one week off a year for vacation. And so for me, it was an obsession to have these investments and start to make them so I could build slowly a portfolio that generates enough income to pay my expenses. And then I don't have to have that kind of corporate job and I can do real estate full-time.
1 (23m 25s):
And so when I met my wife, Caitlin in Vietnam, we, we started having serious life conversations. Once we had dated for a little while about what do we want to get out of life? And we knew that having control of our time was very important and being able to enjoy ourselves and being fulfilled through doing the things that we want to do and not having, you know, a specific job to report to and drive two hours to, like you said, so we, we packed everything up. We sold everything. We were living in San Francisco, California. I had been doing corporate consulting and she was running her own yoga business and had corporate and private clients that were taking her all across the city for 12 hours a day.
1 (24m 17s):
And so we said, we need to change our environment. So we moved, we sold everything that we had, and we moved across the country to Charleston, South Carolina, where we started to build our portfolio one property at a time. And the reason we had to make that kind of drastic change and that decision, I think for a lot of people, if packing off moving is a big one and it's insurmountable to some, but for us, it was not a question of wanting. It was needing to make that change. We had to do it in order to get to where we are today. We didn't have a perfect plan of, you know, exactly how we're going to get to 130 million, but we knew that moving was going to be that step to get us started.
1 (25m 3s):
And so we took the plunge, we made the decision pretty quick. We moved to Charleston, South Carolina, and we started investing in real estate and building our portfolio, building that track record and that experience. And then, you know, we didn't have the exact plan or the, the steps one through 10 outlined, but making that initial effort and then being open to change and really embracing the journey, allowed us to grow and naturally progressed to acquire more assets, building the portfolio and getting to where it's at today.
0 (25m 41s):
So let me put you on the spot here for a second. What was the defining moment of your journey from zero to 130 million as you look back and you look back over all, you've done the mistakes you've made, the successes you've had and everything in between. What was one moment that just kind of comes to you immediately? When I asked that question, that defining moment, break it down.
1 (26m 5s):
The defining moment was feeling in my gut, that tipping point and the tipping point came when I was surrounded by the right people. And so you don't get to 130 million by yourself, right? I have a great team and phenomenal partners that I work with. And so when the perfect storm occurred and the right timing happened, I was able to find two of the partners that I work with now. And the three of us really run our real estate apartment syndication business, where we buy value, add apartment communities with our passive investors.
1 (26m 49s):
And that was the defining moment because I had, you know, my background, but now I had the background of two other individuals who brought different skill sets than I had. And we created a very good, diverse and experienced team where we were able to take our individual experiences and knowledge, put it together and have a very quality group where we, we can now win deals for apartment opportunities because we're the go-to people that other sellers or brokers want to work with in the real estate community, as well as we've got the backing of all of our investors who want to work with us and participate in the opportunities that we put together.
1 (27m 44s):
And that defining moment of meeting the right people and forming the right team was exactly what we needed for the business to kind of take off and get to where we're at today. And what I'll say to Fire Nation is you cannot force finding the right people to work with. It needs to be a natural progression. And when I said, you know, we didn't have the plan of steps one through 10 to get to where we're at today, but we embrace the journey and took on the changes. It's also about meeting the right people, developing the relationships and seeing who, who, who you can help and who can help you.
1 (28m 25s):
And I think that relationship aspect and that appreciation that I have for meeting people on a daily basis is what allowed me to find the right partners to hit that specific defining moment where we formed our group and then kind of took off like a wildfire.
0 (28m 45s):
So we talked about defining our freedom number and actually getting to that goal. Let's talk about developing the freedom plan and actually taking action on that plan, break it down for us.
1 (28m 57s):
So taking action and getting the plan. I think the plan is important. Having some steps outlined is good. So if your goal is to generate a thousand dollars a month in passive income, and let's just say for ease of this conversation, you're as passionate about real estate as I am. And you want to go out and find a property, or do you need to buy two properties in your market to generate a thousand dollars a month? Well, that's your plan. Now we need to take action. It's not so much about, you know, what do I do after I get the first property, but it's, what do you do to get that first property to start building the passive income taking action is the first step.
1 (29m 46s):
So if you need a little bit of education, I would start there, but the best education is really through real life experience. And so either I would suggest you purchase that first property and kind of learn as you go, if you're in a financial position to do that, or number two is to find a mentor in your area or find someone that you can go and work for to learn the business from the inside and out. And so you can educate yourself in real life and take action while you're doing it. As opposed to maybe sitting at your computer, watching YouTube videos about how to buy real estate.
1 (30m 28s):
I would say, you know, that's great. Educate yourself briefly, but then go and take action and be involved in the business in some way. So you can use that experience to your benefit and apply it to your first investment, or maybe it's going to be your 10th investment
0 (30m 46s):
Fire Nation. It's all about real life experience in the army. We called that OTJ T on the job training. I mean, we could sit in a classroom all day long and they could show us pictures of tanks, but I had to actually go into the field. And my Sergeant said, Hey, LT, get on that tank and crawl around, push some buttons. It's not actually loaded right now. Don't worry about it, but just figure it out. I had to get in the tank on the tank, around the tank I had to have on the job, real life experience training. And that's true for everything in this world. So, Danny, what do you want to say to Fire Nation as our last topic here about building a real estate portfolio to generate income.
0 (31m 27s):
If people are listening to this and they're actually like, this is something I get, I am passionate about. I find myself watching HGTV all day long. Like what would you say to those individuals
1 (31m 39s):
Don't believe what you see on HGTV. It is a television show. So let me caveat that. But if you're interested in building a real estate portfolio, I think you've got to get educated first. And there's a couple of ways to do that through the, on the job training or in real life training, you can kind of read about it the other way. And a lot of people have gotten started this way is by starting to invest passively first. So instead of being that kind of active day-to-day business owner operator responsible for managing and overseeing the property or the investment, you can passively invest in real estate, alongside someone like myself and my team to get started in real estate, you can learn the ins and outs of it, kind of on the job while your money is working for you to better educate yourself.
1 (32m 38s):
And we find that lot of people, you know, they may like their jobs, or they may like the lifestyle that they currently have. And so for them, they don't want to take on the management and the oversight of having a real estate portfolio, but they want to enjoy the benefits that real estate investing provides such as monthly cashflow from value, add opportunities, equity appreciation, again, through forced value, add business strategies, and then tax advantages that real estate provides that other passive investments don't provide an equal ratio. So for those reasons, a lot of people, they don't want to be active investors and be in the day-to-day and taking calls from managers or from tenants.
1 (33m 29s):
They can invest passively in real estate. And, you know, we share all of our information for free. We can teach people how to invest in real estate, the pros and cons of different asset classes. And so if it's something that you're interested in learning about, you can go to passive investing.com and you can sign up to get information from my team and in our group about different opportunities that may come up where you can passively invest in real estate,
0 (33m 60s):
Passive investing.com, Fire Nation, go check it out, just learn a little bit from the website, and maybe you'll find an opportunity now or in the future when you can get involved. If it makes sense for you and Danny one key takeaway, I mean, you dropped a ton of value bombs about a lot of different things. You know, we talked about financial freedom. We talked about defining financial numbers and creating the plans and building real estate to generate income, all this stuff. Super critical, super great. What's one thing if fire, nation's just kind of snapping back to it right now that you want to make sure they take away from our chat today,
1 (34m 37s):
Responsibility and ownership, you know, financial freedom, whether you are a young person in your early years, or you are in middle life, or you are near your retirement or enjoying retirement, financial freedom and financial responsibility is your personal ownership. I would suggest you not rely on other people to be responsible for it. Take ownership, be in charge of it. And you're going to be able to build the lifestyle that you want to have, or, you know, make a change today that can benefit you and your family for generations to come down the road,
0 (35m 21s):
Responsibility, ownership, Fire Nation, look in the mirror and say, that's the person who defines my future. And you're the average of the five people you spend the most time with. And you've been hanging out with DR and JLD today. So keep up the, and if you head over to EOFire.com and type Danny in the search bar, he's shown us page will pop up with everything that we've been talking about today. Best show notes in the biz. And of course, Fire Nation head over to passiveinvesting.com. Lots of great information over there. Figure out how you can become involved if it makes sense for you and Danny, thank you brother, for sharing your truth with Fire Nation today, for that we salute you and we'll catch you on the flip side.
1 (36m 7s):
JLD thank you so much. And Fire Nation. Thank you. I look forward to hearing from you.
0 (36m 12s):
Hey, Fire Nation today's value bomb contents was brought to you by Donny Randazzo and my three greatest strengths. They are a productivity discipline and focus. And if you are ready for these three skills to absolutely start crushing it for you, then visit the masteryjournal.com and use promo code PODCAST for a nice little discount for the Mastery Journal. And you will master those three skills in 100 day. Ease. I'll catch you there Fire Nation, or I'll catch you on the flip side. Is this your year visit ThrivetimeShow.com/EOfire. To see how Clay Clark's business coaching helps thousands of entrepreneurs to dramatically increase profitability it's month to month and less money than hiring an average minimum wage employee.
0 (36m 58s):
Schedule your free consultation today at ThrivetimeShow.com/EOfire. Business made simple hosted by Donald Miller takes the mystery out of growing your business. Recent episodes, like how to attract and retain top talent and how to make more money with your current products are straight fire. Listen to business made simple wherever you get your podcasts.
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