When the real estate bubble popped in 2008, my investment team was stuck holding a property that we were mid flip on...
We had to adapt our plan and get renters into a house we planned to sell because everyone stopped buying. No one could get loans.
It was this moment I had a very BIG realization that I hadn't created enough cash flow from my real estate and that moving around 200k houses carried with it HUGE risk.
This is when Melanie and I went all in on internet marketing.
Smaller value products that were easy to sell and deliver was the goal after getting hung out to dry with that last house.
I had experience earning online from my earlier 'Myspace' days so I knew the world of affiliate marketing...
But this is the moment when I invested 100% of my time and energy into skilling up...
The skills I focused on first were keyword research and search engine optimization.
Melanie wrote the content, I helped research it and optimize it.
Our 'offer' was one-on-one angel readings that Melanie was doing... I built the cart and systems around that.
When money started coming in... What did we invest in?
Back to real estate for more?
We re-invested our time and money into our growing little digital startup!
And from 2009 through about 2014 this was our approach.
We put every extra hour and extra dollar we had back into the business.
We paid ourselves the minimum possible we could live on (less than $2,000/mo) so we could plow everything back into the site.
We tested new content management systems...
We tested paid traffic...
We bought new microphones, recording gear and pro level software to edit on...
We hired teammates... And I started selling services to local businesses that these teammates handled in addition to growing our sites.
Plowing everything we could back into the cash flow machine, and eventually grew our business to have 3 separate stand alone brands which we still operate today.
Most people think about diversifying their investment portfolio... But we diversified our cash flow machines!
Because I saw how 100% of my income (and hope) could dry up in Real Estate with one bubble going pop...
And now... nearly 10 years after starting the internet business, I'm back full circle to Real Estate... Now that my team, systems and cash flow are solid.
Before, I had the cart before the horse...
I was all in on investing, but I didn't have the cash flow figured out... And that was backwards.
You really need to understand this path because I had this mistake and backwards approach so I could help you avoid disaster and create true success faster!
To help you take this further, there is a podcast you need to hear!
Last year about this time, I was interviewed by the investor and author David Schneider for his 80/20 Investing show and he even included Melanie and I as case studies in his book.
He breaks the process of creating wealth and financial success down to two phases...
Phase 1 - Build a cash flow machine
Phase 2 - Invest excess cash flow into assets
We had a great conversation that tracks my story through these two phases on his podcast episode #25 which you can listen to here:
If you use the iTunes podcast app or another podcast app, just search for "80/20 Investing Show" and then go to episode #25.
Miles "Keep Growing" Beckler
P.S. Remember... I grew up in a working class poor family. My mom had 2 pairs of socks at one point, wear one wash one every day.
Literally couldn't afford a 3rd pair of socks?!
My dad had to pawn valuables several times to make rent... #WhateverItTakes
We had food on the table, we had love, but money was scarce where I grew up...
So no silver spoon here!
Just a burning desire to create a new level of success no one in my family had achieved before.
I know that you can do this too... And this podcast gives a GREAT inside view of how it all works so you can create your success too!