Get this, only 5% of agents own investment properties. The one thing we realtors are experts in, selling ASSETS, only 5% of actually have.
If it’s your goal to become a millionaire and generate wealth, you need to take building your assets seriously.
In this three-part series, we’re going over the three key steps it takes to become a net worth millionaire real estate agent in only a few years.
Step 3: Passive income streams
In case you didn’t know, income doesn’t equal wealth. Assets build wealth, and those assets then generate income.
It’s tempting to focus on the next commission. But after the 20th time of telling yourself “If I can just get one more deal closed” you finally realize this hamster wheel isn’t sustainable long term.
Once you secure more consistent income (by working with investors), you’ve built tax efficiency in your business (sheltering your income which means more in your pocket) you now have more money to invest in real estate and other income-producing assets.
We recommend real estate agents buying at least one rental property each year. Then using the added bonus in your commissions toward the down payment.
Few do it—but it’s certainly doable and one of the fastest ways to get into investing.
Are you searching for a community of real estate agents serious about building wealth? I encourage you to check out our Investor Agent Academy.