On this show, I love to share about the power of performing assets like real estate. Building streams of income with performing assets is a far more sustainable way to create wealth than trading hours for dollars.
So if you want to work toward replacing your salary with performing assets like rental properties, this episode is for you. And listen, this isn’t just some pie in the sky idea. I’m sharing the exact formula I used to leave behind my day job – and I’ve watched other investors do it too. Click play to learn how to replace your income with performing assets!
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Let me share a little of my story with you in case you’re not familiar. For years, I worked as a news anchor at a major news network. To some, that might sound like a dream job, And to me, it was at one point, too! But eventually, the 3am wake up calls got old. As I grew my family, my priorities began to shift. And even though I had a high-paying salary, the money wasn’t on my own terms. Whenever I had a contract coming up, I’d find myself holding my breath, hoping I’d have a job and the ability to pay my bills.
Plus, it seemed like at the end of every month, there were still bills left to pay, and no paycheck left to cover it. So, I started thinking about what we could do differently. I started out by selling some of my possessions but quickly realized it wasn’t sustainable. I needed a better action plan to cover my monthly expenses for the long term.
I finally realized that if we wanted to be financially free, we’d have to put our money to work for us. If we wanted to create cash flow and passive income, we’d have to implement an actionable plan based on tangible numbers.
And that’s how I created the Freedom Cheat Sheet. It’s a PDF designed to help you determine how much passive income you need to cover your monthly expenses. Determining my Freedom Number changed everything for me and my family, and I know it be transformative for you too, because I’ve seen it. You can claim your free download by visiting morrisinvest.com/freedom.
The Freedom Cheat Sheet is at the heart of what I do in real estate investing, and what we do at Morris Invest. Here’s why I believe the Freedom Number formula is so powerful: it’s not an arbitrary number, it’s custom-fit to your exact situation.
So here’s what I suggest if you’re ready to replace your income with performing assets. First, calculate your Freedom Number. Again, you can get the download for free at morrisinvest.com/freedom.
Then I want you to keep that number in your consciousness as much as you can. Write it down. Put it on your bathroom mirror, set it as your desktop background, or whatever you need to do to keep yourself focused on that number.
Don’t expect to change your life overnight. The Freedom Number changed my life – but it’s not like I woke up the next day and everything was perfect. It took me a few years to work toward that goal and eventually leave my day job. Investing in real estate is a long game, so you have to stay patient and focused.
Keep learning on your journey – it’s best to educate yourself about strategies and keep them in your back pocket for when you need them. Building your financial intelligence will help you reach your goals faster and more efficiently.
And finally, get support. This can come in many forms: a supportive spouse, a mentor, or a group of like-minded investors at your local meetup. At Morris Invest, this is what we do! We love to cheer investors along as they strive toward their Freedom Number – and we can even help you develop a plan to help you get there. Just come over to our website, morrisinvest.com, and click the schedule a call button. We’ll ask you to bring your Freedom Number to the first call so we can get an idea of what your goals are.
Episode Resources
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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