How would you reach this goal???

[Curtis Curley]

In the Houston market, armed with $10K in good credit, how could someone reach the goal of creating $30K a year in cash flow within 3 years?  The only assets they have is $10k and good credit.

[Shiloh Lundahl]

@Curtis Curley it would be tough to get to 30k yearly in 3 years with only 10k to start out with. But this is what I would suggest to you if that amount and those time frames are really important. They are going to sound radical, but if you are willing to make serious sacrifices then it could work.

The first thing to do would be to create a vision board as to why 30K a month in passive cash flow is so important. Include pictures, phrases, and anything else that motivates you to achieve this goal so that your “why” is greater than the sacrifices required to get there. Then follow the steps below:

1. Reduce your expenses drastically - if you own your own home, rent it out on AirBNB and start living out of your car if you’re single. If you have a family, do the same thing, just live out of a little bigger of a car (RV that you can park at someone’s house whom you know who has hookups for power and sewer where you can pay them maybe $150-200 for power and water).

2. Save everything you possibly can - 10k to 30k passively a year is looking for a yearly return of 300% on your money where as most good passive invests yield only 10-12% consistently. So you need more money. Only spend money on things that are absolutely necessary and save all the rest.

3. Improve yourself - where ever you work now, figure out what a reasonable salary increase would be and then go talk with your boss and find out what it would take for you to increase your salary to that number within the next 6 months. Then go do that (assuming it is not against any of your morals or ethics).

4. Start associating with people who make 30k or more a year in monthly cash flow. Listen to how they speak and the words they say and see how they use their time.

5. Listen to personal improvement audios and leadership audios and read the books suggested by the people who are making the 30k a year in passive income.

6. Work like a dog at your current job if it allows for advancement and you get compensated for increased production. If not, begin looking for a different job where your compensation is based on your work ethic and production.

7. Create a side hustle - find out what your market needs and then deliver that to your market. When you’re not working on improving yourself at your current employment, spend your effort to improve your side business to bring in as much money as you possibly can.

8. Network with investors who are able to turn money over quickly (within 5 or 6 months). Invest the 10k with them (in a secure way with a good operator) where you can be part of the process and see how they are turning over and increasing their capital. Watch how they are running their system and start building a similar system.

9. Increase your available capital.  About now you should have much more than 10k saved up. With more money coming in and good credit, you should be able to apply for credit lines (personal lines, credit cards at 0 percent interest for a year, Home equity lines, etc.).

10. Start using the money and the lines of credit to follow the system that you have been learning while your money was invested/lent to the experienced investor.  Don’t over leverage!

11. Put all earnings back into the business. Keep adding money to the business. Use as many write offs as possible through business ownership.

12. Continue with this process nonstop for 3 years while continually improving yourself along the way. Through this process you should be able to accumulate 300k of cash that if you employed at just 10% would make you 30k a year in cash flow. But by the time you have done all of these things, you should know how to make 30k a year with less than 300k. 

Within 3-and-a-half years I was able to turn around 350k into 1.25 million. But I started out with more money and I did pay for education and had money over and above the cost of that education to start employing it.

This process is not easy and it would probably require a complete life change but you did not ask how to create 30k of passive cash flow easy. You asked how to make it quickly with very little to start out with. And this would be one way of doing that.