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The Wealth Without Wall Street Podcast

By Russ Morgan CFP® & Joey Muré

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Our Passive Income Report - November 2020

• 34 min

#169: “Vision is something that you think about, but the reality of it is when you can see it because you put it down somewhere in front of you.” ~ Russ Morgan As we’re nearing 2021, it’s a great time to sit down with your family, envision what you want to accomplish for the coming year, and put everyone’s ideas on a vision board. The Passive Income Report is part of Russ’s vision board. This practice was inspired by https://www.eofire.com/podcast/ (Entrepreneurs on Fire by John Lee Dumas) and https://www.smartpassiveincome.com/listen/ (The Smart Passive Income by Pat Flynn), who put their passive income on their websites to motivate others to set goals and create accountability. Today, Russ and Joey will go through the November Passive Income Report and share “the good, the bad, and the ugly” with what they’re doing. One good practice you can start with is creating a vision board to achieve what you want and gain financial freedom in 2021. ~~~ November 2020 Passive Income Summary: Gross Income: $53,862 Total Expenses: $32,803 Net Profit: Over $20,969 ~~~ Breakdown of Passive Income Sources: Land Business $2,830 per month passive income | $130,000 property that can be resold If you’d like to learn more about the land flipping business, download the investor tool from https://www.thelandgeek.com/ (The Land Geek: Mark Podolsky) Cattle Business Unsuccessful - nothing sold for the month and will be dissolved in 2021 Short Term Rental Property $27,325 Income | $22,249 Expenses; $900 Profit at 73% occupancy Targeting to improve occupancy to 80%-85% next year Ethereum Miners $3,300 Income | $1,500 Expenses | $1,843 Profit Long Term Rental Business Not doing very well Community - Inner Circle Membership for IBC $14,349 Income | $2,500 Expenses | $11,849 Profit Short Term Rental (STR) Mastermind $600 Profit Freedom Seekers Masterclass (Brand New Coaching Program) $3,705 Profit Join the waitlist for January 2021 E-commerce Not doing very well Joey will sell the business if it doesn’t take off by March 31, 2021

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