Make passive income 2023. In this video, I'm going to share with you the biggest secret
about passive income that exists in the world, and guess what that is? That's not really real.
Yeah, I know. Even when I mention passive income,
I am talking about things that you have set up that will create income over time. In this video,
I'm going to get into exactly how you create passive income, how it really works, and what
you really need to do to set up so that you have money coming in month after month. Let's go.
So I know that you imagine passive income to mean laying on a beach. Maybe you're in your chair,
maybe you got your bathing suit on, you got the laptop on your lap, somebody's bringing
you some drinks or maybe even a cool ladder or something like that, and the ocean is just
in front of you and you are just checking your PayPal, your stripe, or your bank account for
all of the money that's flowing into your account. Well, yeah, ladies and gentlemen,
that is not real. I have worked on the beach on a laptop and first of all, it is nowhere
near as luxurious as people make it out to sea. Additionally, I have streams of passive income,
and I assure you there were tons of things that I did to set that up and things that I have to
do to make sure that it keeps going. So let's really get into how you create passive income
in this new economy that we're in. So the first question that you need to ask yourself is what
do you spend your time on? I know we're talking about passive income and you're thinking, well,
I want to make money, Noelle, get to that part. But before you could ever decide that
you're going to have passive income, you're going to have to answer the question the same
way that I did. What do I spend my time on? Because in order to create passive income,
you're going to have to invest your time, your money, and your effort. So because there
is no such thing as passive income, let's talk about what we're really talking about, which is
leverage. Leverage is really what we're talking about when we say passive income, especially as
a real estate entrepreneur. I'm literally talking about leveraging my real estate to create income.
But what does that even mean? What does leverage means? Leverage means using something that is
borrowed or using borrowed funds to actually make money. And so when I am talking about leverage and
real estate, I'm literally talking about taking mortgages that I didn't come up with all of the
money for maybe just putting down 5% or 10%. The bank is giving me money leverage and then I make
money off of those properties. So that is one way that you can create passive income using leverage,
but in order to actually create a portfolio of rental properties, you probably imagine it took
some time, some money and some effort, but more importantly, let's talk about what I really did
to get that passive income because that's the part that you're going to need to focus on. You
have to learn to leverage in order to actually become someone that can leverage and make money
off leverage. You really have to learn how to leverage meaning there are certain things that
we leverage as entrepreneurs to make us lots of money, and I'm going to give you five things that
I leverage right now to make me money and all of them, I had to learn how to leverage. So let's
talk about the first thing. The first thing is credit. You can leverage your credit to create
assets that make you money. Many of you guys already know that. That's why you search Noelle
out and find out my videos on how to fix your personal credit or how to get business credit,
all of these things to raise your credit score, all of these different things to take you to
the next level so that you can leverage your credit to get assets that make you money. Again,
you're very smart for thinking about that and you are definitely on the right track. Leveraging your
credit is one of the things that multimillionaires do. We literally sign our names and people hand us
money. Literally, I have gotten cars, houses, things like that, and I did not give them any
money whatsoever. I just signed my name and promised to pay because I have good credit,
meaning I've paid other people. They have the expectation that I will pay them too. Therefore,
they give me things that I can make money on. I literally have been able to leverage my credit so
by inventory to buy supplies, to buy real estate, to have customers, to even employ people, even to
furnish an entire office or home. I can leverage my credit and start using that leverage of the
credit to make more money. So that's number one. Start to leverage your credit, but again, you're
going to learn how to leverage. I'll get to that next part. Number two, leveraging capital. Capital
are things that you own that can make you money. If you're Michael Jordan, your capital could just
be your face, but if you're like a regular person, maybe somebody that works, your capital may be
your actual money that you have in your bank account or it can be your car or it can be your
house. Something that you have that can make you money is what capital is by definition. In fact,
I'm going to put the definition of capital across the screen so you can see it there.
Capital is something that you're always going to leverage, and as you become richer and richer and
more and more wealthy, the more and more you will leverage your capital. In fact, capital can move
away from tangible things like cars, houses and things like that to things like my reputation,
my brand people knowing me, popularity, fame. Those are things that you can leverage too,
and it is considered capital, but it's what we call an intangible thing so you can leverage
capital versus tangible and intangible. Number three, a system or process. Now we're really
getting into what you can leverage to get yourself to the next level. Many times we have a system
or a process that we use to do things, and that is how we get to the next level. As I talk about
becoming a millionaire to a multi-millionaire, you are going to start to create or borrow from other
people's successful systems and processes. For example, when I first got my coach, okay, I was
living in my parents' basement. It was 2008, 2009, and I was bankrupt. I was broke, I had bad credit.
I was just a mess. I had no job and I wanted to invest in real estate. My coach at the time taught
me that I could leverage his system. He had a system on how to get real estate. He had a script
that he could give me. He had a way that we called people. He had a way to get leads. He had a system
that I started to leverage so that I could make money. I paid my coach. He taught me that system.
I did that system and within a few months, I was no longer in my parents' basement. I was back in
my own apartment with my husband and kids, and we were making enough money to sustain ourselves.
Literally, having a good system or process is something that you can leverage to make money,
and it is so important either borrowing someone else's or creating your own. All right. Number
four, team. Having people on your team to work for you and creating a team is one of the pivotal
things that you are going to have to leverage as you grow. Yes, we may all start off as solo
entrepreneurs or people that work for themselves by themselves, but as we grow our businesses,
we will need more people and if you really want to get to that next level where you have
passive income, meaning you don't have to do the work, you're going to have to leverage a team,
you're going to create people in your team, employees, contractors, whatever it may be,
and they start to do the work that way. You are not working in your business every single day,
but someone is. You have to learn how to manage people and how to leverage other people's skills,
time and efforts so that you can have passive income for you and your business teams are so
important. Number five, and this is my favorite network. Leveraging a network is truly your net
worth. My millionaire mentor told me, your network is your network worth and it is so true because
having people that you can call that can lend money or they know insurance or they know the law
or they know how to get this and they know how to get, that becomes invaluable and you really
will start to leverage other people's skills and knowledge. You're not going to learn how to be
a lawyer and learn how to be a banker and learn how to be an accountant and learn how to contract
and fix houses and learn. You don't learn all of these things, right? You start to leverage
other people and other people's skills, knowledge and resources. Literally as you start to get into
this business, it is important if you want passive income money that just comes in every single day
like Noelle has, you need to start leveraging your network and you need to create a network
that is valuable and can do things for you in your business. Do you want to talk to me in
person and do a Zoom call with me and learn? Go to noelleschallenge.com. I literally am going
to be teaching on how to grow your wealth using business credit, real estate, and so much more,
and it is so inexpensive for you to join this challenge and learn all of this information,
but if you upgrade to VIP, you literally get a Zoom call Q&A with a small group with just me,
you and a few other people that do the upgrade. It is an amazing opportunity for you to get to talk
directly to me on a Zoom. I have so much fun, I'm not going to be able to do this forever, so please
make sure you take advantage of this offer right now if you are seeing it. Noelleschallenge.com.
Okay, back to this video. So here is the plan for the next 12 months, how to get passive income for
2023 using leverage. Like I said, the first thing that you need to do is learn to leverage. So this
is going to fit into a system that I call learn, do, teach, and this is an amazing thing that you
can do over the next 12 months to really get yourself to the next level. So for the first
six months, the next six months, you need to focus on gaining a skill. Okay, this is the next
thing that you need to do and is the only thing that you need to do. You need to learn a skill,
deeply focus on it and become really good at it. It may become a situation where you may have to
work for someone else so that you can do that each day, and you're not really an entrepreneur. Maybe
you're an independent contractor that has their own business and you're working in someone else's
business, learning that skill deeply. You may get a coach or a mentor, you may go to classes,
you may go back to school, but it is so important to spend the next six months learning something
really deeply. Once you start learning it deeply, of course you will then do it. As you do it,
you're going to be able to have experiences and then you will be able to teach it. So once
you're actually doing something, for example, I was showing people my flips, okay? First I was
flipping houses then I started showing people my flips, and then I started teaching them. So I went
from learning how to do it in my parents' basement to doing it to then teaching it. The problem
though that Noelle had though is I took way too long to ever start teaching other people, and I assure
you, you don't have to wait eight, nine years of doing something before you can start teaching your
group. There were so many people that I could have helped when I was maybe midway through my journey,
I could have helped the beginners. Now, sometimes I'm so far ahead of people, it's kind of hard to
connect. So that is why we need people like you that are willing to learn something, do it, and
start teaching other people, and again, you get paid at every single step of the way. This will
also help you with what I said, leveraging credit, leveraging capital, leveraging a team. Literally,
people that you teach become your network. They become your team. They become employees
or contractors. Literally, it all starts to come together once you start to focus on this. So if
you truly want passive income, start learning a skill really deeply. Focus on that for six months,
and then the next six months you're doing it, and then after that 12 months,
you can literally start teaching it, and let's talk about what that looks like because that
is so fun. You don't have to make a YouTube channel, although I truly recommend it because
YouTube is owned by Google. So when people are searching in Google, they find me on YouTube,
and that's an amazing way for me to get leads and customers for my business, but you don't have to
do it that way. You can teach on other social media platforms. You can write a book, you can
teach your family, you can do classes. I literally used to do classes in the back of a olive garden
and people will pay me a hundred dollars to learn about flipping houses. Again, you can do this to
whatever level it is that you choose, but let me be clear, you can literally make money at every
single point because even when you're learning, guess what? If you actually create a business,
all of that education is a tax write off for your business. Yeah, did you know that like going to
seminars and taking classes for your business and things like that are tax deductions. Now,
I'm not a tax professional or a tax attorney or anything like that, but I can assure you I have
written those things off of my taxes, and if you look in the IRS tax code, you will see those
things are tax deductible. So it's an amazing way to uplevel yourself and get paid for it in
the process. Whoa, did you hear the part where I said I am doing a challenge for the weekend? Well,
guess what? I'm not going to be able to do these challenges all the time. So if you are seeing
this, make sure you join noelleshallenge.com. Come with me for an entire weekend. Let me teach
you how to grow your wealth using business credit, using real estate, using side hustles, how you can
take almost any business and grow that business with the techniques and the marketing tricks that
I teach you. Noelleschallenge.com and again, if you upgrade to VIP, you get a Zoom call Q&A
with me, check it out today. I just want to make sure that you have all of the resources, all of
the tools, and all of the knowledge that you need to be successful. This is Noelle, to your success.