How to generate multiple income streams using property and online businesses

How important is it to own multiple income streams?

Imagine you spend all your time doing what you most love to do.
Imagine you have the time and passive income to do whatever you want whenever you want.
Imagine being happy, I mean truly happy.
Are your days growing more stressful?
Is your eight to five work routine leaving you fatigued and uninspired. Time just seems to slip through your fingers, wasted on the mundane.

There is a way out of this rat race – trust me!

The simple truth is that you can achieve wealth (happiness and financial freedom) without destroying everything you’ve worked so hard to create.

►Success is dependent on two critical factors:

A burning desire to succeed.
Owning multiple passive income streams that enable you to fund your dream or desired lifestyle.

Please understand that you don’t have to be clever, special or even a guru to create wealth. What you need is a burning desire to find ways to make your vision come true.

It is how you think and feel about success that counts. This might come as a surprise, but wealth creation rarely happens when other people make decisions for you.

►The P-Principle describes a powerful income business system that produces two major sources of sustainable passive income.

Profits from Passion (online business) and Property

Here’s the great news. With a bit of hard work you can implement the P-Principle part time by using extra/surplus income from your salary to build your business platform.

This system will enable you to accomplish three things:

Leverage your seemingly moneyless passion into different streams of income. Yup, it is very possible to build multiple businesses around things that you love to do. And what better way than to profit from a life of purpose?
Leverage other peoples’ time and money to build your property business. Property is one of the most popular and essential products around. And where demand for a basic human need exceeds supply, you have yourself a major opportunity.
Leverage property and websites to create multiple income streams and financial freedom. Financial freedom is more than just money. It’s a way of life and it can be achieved sooner than you think.

►Online entrepreneurship: How to profit from your passion

Meet Jane Read, an absolute nut when it comes to art. After completing high school, she decided to develop her passion by attending university.

Jane eventually graduated with a Master of Arts from the University of the Witwatersrand. The arduous task of finding a job had just begun.

After 12 months of searching, she managed to complete a series of odd jobs and door to door gallery sales. Unfortunately, a stable income source appeared to be highly elusive.

As a result, she was forced to waiter tables to help pay her rent and monthly bills. Full of self-doubt and low confidence, Jane slowly became more lenient to the idea of leaving art for a more marketable mainstream career.

However, one of Jane’s mentors urged her to commit to her love of art.

So, she began exploring new ways of making money from her work. It didn’t take long before she identified a bunch of new opportunities.

Design images for tattoo parlours
Design artwork for nursery schools
Offer art classes to the general public
Design e-cards, gift cards, invitations and birthday cards

After some investigation, Jane identified a gap in the market. She realised that painting is a good way to increase fine motor skills, especially in children with learning disabilities or medical conditions.

Jane approached a number of private and public entities offering her services as an art therapist. Not before long, her work caught fire which landed her a number of lucrative contracts.

Lesson 1: Do not buy into the idea that your passion or life's purpose is a moneyless or part-time activity.

Her story doesn’t end here.

Jane loves working with people, and came up with the idea of using the internet to teach others about art.

She figured that at least 750 people in South Africa would be interested in an online program. Furthermore, she could offer a 6 month course at R1 500 per person and potentially generate over R1 million in income. (Currency converter)

Slowly but surely, Jane rolled out her business venture. After 24 months, she opened up two unique online courses to the global internet population.

Her online business eventually grew into a multi-million dollar franchise, teaching young artists from all over the world how to hone their oil paining skills.

Lesson 2: There are a number of ways to convert your passion or hobbies into passive income. Technology has made this task so much easier!

With the advent of social networks like Facebook, society finds itself in the communication age.

Information or specialised knowledge packaged for consumer use has therefore become the cornerstone of highly successful online businesses.

Do you still believe your ideas have zero market value?

►Property entrepreneurship: How to profit from property

Meet Richard Bester and Alicia Higgins.

Richard follows a standard retirement strategy prescribed by financial experts worldwide.
Alicia follows an income creation strategy that utilises property.

Here are their stories.

"I'd like to think that best-practice will help me achieve my financial goals." Richard Bester

Richard Bester is a 30 year old biology teacher at a private school in Gauteng. He is single, earns a good salary and lives a comfortable lifestyle.
When it comes to money, Richard has a responsible attitude: plan your investments, be conservative, budget, save 10% of your salary every month and pay off all your debt as soon as possible.
Over the next 30 years, he will make contributions to a pension fund and retirement annuities.
To help reduce risk, Richard's financial planner advised that he diversify his investment portfolio.
During retirement, Richard plans on leading an uncomplicated and simple life to help him cater for everyday expenses and the occasional holiday.

"The sad part of life is that people wait 30 to 40 years to find out that they are broke." Alicia Higgins

Alicia Higgins is 28 years old and teaches basic life skills at a public school in Durban. She is a single mother of two and earns a 'reasonable' salary.
As a teacher, Alicia is concerned that she will not have enough money to support her children through university.
Her long-term goal is to start a day-care centre attending to homeless children.
Alicia believes in living life to the fullest and intends on travelling the world one day.
After seeing how her parents struggled during retirement, she became disillusioned with pension funds and other retirement products.
Alicia recently attended our WayToWealth^TM Masterclass and decided to build a property business, rather than follow the conventional retirement route.

►Will Richard achieve financial freedom?

The short of it is NO.

Despite saving 10% of his salary for more than 30 years, Richard's pension will not be able to keep up with inflation, and will start running short after five years (Business Times, 26 March, 2006).

pension problem no multiple income streams

(Business Times, 26 March, 2006)

Richard will have to seriously reconsider his desired lifestyle during retirement to preserve his funds. Otherwise, he will be reliant on the government and his family for financial support.

Is this your idea of ‘living it up’ during the golden years?

►Will Alicia achieve financial freedom?

The short of it is YES.

Alicia started her property business using her bank's money. She purchased her first property for R400 000 and currently receives a monthly passive income of R3 500. (Currency converter)
In all, she spends less than 3 hours of her time every month managing her business.There is no need for Alicia to either deal with tenants or maintenance issues.
After 12 months, her business was valued at R460 000. A basic calculation reveals that her return is more than 7000%!
After paying off her first property, Alicia purchases a second business worth R380 000. By the time she is 65, she manages to acquire 15 fully paid up properties. (Currency converter)

In today’s terms, Alicia will earn R37 500 monthly passive income and her business will be worth over R6 million. Importantly, this means two things:

Her business will generate multiple income streams which will sustain her desired lifestyle. She will also have the freedom to start her day-care facility as well as help her children.
Her passive income will continue indefinitely, whereas Richard's income will only last for a limited period.

Statistics prove that the average person retiring from a pension fund will have a lower standard of living.

If you are approaching retirement and take home R20 000 today, could you live on R5 600 a month for the next 20 years?

Does it still make sense to rely on the traditional approach to wealth creation?

Why wait 30 or more years for financial freedom when you can start today?

If Alicia acquires 30 or more properties, her monthly passive income will be at least R75 000 and the value of her business at least R12 million. (Currency converter)

How does this compare to Richard's pension fund? See table below.

	Monthly income	Investment value
Richard’s pension fund	R4 900	R1 million
Alicia’s property business
Option 1: 15 properties	R37 500	R6 million
Option 2: 30 properties	R75 000	R12 million
Option 3: 100 properties	R250 000	R40 million

Owning a property business is a superior alternative and it's easy to build.

►The bottom line is that the cost and risk of doing things the old way is massive!

"The most expensive piece of real estate is the six inches between your right and left ear. It’s what you create in that area that determines your wealth. We are only really limited by our mind." Dolf de Roos

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