Chapter of The MREA: Part Two – The Four Stages: When Your Money Works For You 

Gary Keller introduces this chapter with an anecdote about his first business venture – mowing lawns. Gary tells a story about when he was a young man, he callously co-opted a friend to pick up the gardens Gary was cutting whilst he was on holiday with his family. Gary paid the handsome fee of $10 but, unbeknownst to Garys friend, the young Mr Keller had agreed to a $15 fee per lawn with the respective owners. When she found out, Garys mother wasnt pleased with his shady business practices, a big lesson in integrity for the budding mogul. The other lessons learned, however, was about leverage and passive income.

This lead Gary to discover the two routes to acquiring money and financial wealth: You can either earn it or receive it. The difference between active and passive income is that the former requires you to work for your money, whereas the latter requires your money to work for you. This fundamental difference can be the separating factor between pursuing an abundant lifestyle and a business that can build longevity and self-sufficiency when moving into the Receive a Million and Net a Million stages of your business evolution.

As we continue to cover how you can create a Net a Million business, generating passive income will become more and more vital for creating a business that you can one day step away from. While this doesnt necessarily mean you will have no responsibilities in running your business, the day-to-day will be leveraged by the people, tools, and systems you have vetted and accumulated along your journey towards becoming a Millionaire Real Estate Agent. Continue referring to your copy of The MREA and use our chapter summaries as a quick refresher to ensure you are on model and on the route towards owning a Net a Million property business.