Ryan Enk joins us on the show today to tell us how he was able to quit his J.O.B. as a “corporate drone” with passive income through real estate and how one question changed his entire life forever.
What Would I Do If Money Didn’t Matter?
Ryan shares his backstory and the chain of events that ultimately led him to that life changing question… including the final straw, losing a house to hurricane Katrina with a wife who was 8 months pregnant at the time, leaving them with no place to live.
Ryan went into survival mode and after reevaluating life’s events and all that he believed growing up, Ryan realized that hard work was not the formula to success. So, he decided to work smart instead and real estate was going to be his vehicle.
In just one year Ryan grew their net worth to over a million dollars. He and his wife both were able to leave their jobs and they have never looked back!
Since, Ryan has built two million dollar indoor sports rings in the New Orleans area and traveled the US in an RV for a month with his wife and 5 kids… all from asking the one right question.
Ryan now helps others get to six figures in passive income through real estate investing and today he is going to talk about his unique strategy with us.
He combines 2 strategies:
- Quick Nickel—Buying, rehabbing, flipping
- Slow Dime—Buying, renting
And, just like in land investing, Ryan finds motivated sellers and then he becomes the bank. He buys the property, puts minimal work into it, collects a down payment and leases on an option… eliminating the headaches associated with rentals.
What if they default?
No problem! He still owns the property, he collects another down payment and puts someone else in there.
Ryan shares all the details of this strategy, plus answers these questions:
- What is your default rate?
- Why isn’t there more people doing this?
- What is the worst advice you have seen?
I think the problem is that there’s a lot of gurus out there that are just pushing one strategy. So a lot of people go into it to create passive income and financial freedom for themselves but they end up in a strategy that is just another job. So if you solely focus, for example, on wholesaling or rehabbing or flipping, that’s going to be your job for the rest of your life. Unless you combine those strategies with some sort of passive income creating strategy.
Listen in now…
TIP OF THE WEEK
Mark: Learn more about Ryan at CashFlowDadLife.com.
Scott: Check out KanbanMail.app. It’s very similar to Trello. You take Trello and combine it with your email and it filters which emails need your attention, and when.
Ryan: Check out The Seven Day Real Estate Survival Blueprint: How to Create $10,000 out of Nothing in Less than a Month. It’s available in paperback, Kindle and audio!
Isn’t it time to create passive income so you can work where you want, when you want and with whomever you want?