I'm fortunate to get to hang around successful professionals and the side conversation that's always going on is this...
“How can I create income without trading hours for dollars?”
“How can I take the profits from my practice and diversify my wealth?”
If you've had some success, these are critical questions to answer. The professional services business can be a great place to create profits—done right, the margins are huge—but if you're not “billing” you're not making money.
Paul Chase--one of our Unstoppable CEO Elite members has found one way to take some profits off the table, and put them to work for you, without a lot of complication.
In this episode of The Unstoppable CEO Podcast, I interview Paul about his unique (and very accessible) method for creating consistent passive income with the profits from his main real estate practice.
00:12 Steve introduces Paul Chase.
01:36 Paul tells us how he turned around his business model from a realtor to a private money lender and what exactly is a private money lender.
02:29 In private money lending there are a lot of rules and regulations that have to be navigated. Paul talks us through how he managed this.
05:26 Paul credits Steve’s book (The Unstoppable CEO) in teaching him to get to know preferential potential clients - Entrepreneurs.
08:02 Paul didn’t lump himself all the work. He tells us how and why he called in the experts to help him.
09:24 When Paul had money to invest in real estate, but didn’t want to deal with the 3 T’s (Tenants, Toilets & Trash), it was an email from a friend that lead him getting checks in the post.
11:05 Paul gives us a quick breakdown of the first couple of deals that started off his business.
17:33 Paul takes about the pressure of finding the next deal as a realtor has been replaced by the deals coming to him.
20:55 Paul tells us about the books he’s reading now and how he’s looking into AI.