BiggerPockets Money8 Jan 2021

160: 6 Income Streams with a W2 Job and 4 Kids: Finance Friday with Cort Johnson

Many listeners of the BiggerPockets Podcast network are resourceful when saving and earning money, but maybe not quite as resourceful as Cort Johnson. Not only does he have a full-time engineering job, which he uses to support his family, he also has 5 other streams of income on the side!

From contract welding projects, to dropshipping, renting out his trailer, and even raising rabbits (seriously!), Cort has done almost everything under the sun to build up his assets. The main problem: some income streams are taking up too much time, while providing too little in return.

This is a constant problem that entrepreneurs and FIRE members face, too many options! Mindy and Scott go through Cort Johnson's income, budget, expenses, and general finances to see where he should allocate his time for maximum return.

This episode goes deep on the importance of scalable income and following your passions to develop side income streams that you enjoy. Cort dreams big about starting his own business, investing in multifamily property, and living financially free. As you’ll hear in this episode, he’s not far off!

In This Episode We Cover

How to focus on side income streams that are worth the time
Budgeting and expense tracking so you spend less
Calculating the value of your time (so you don’t waste it)
Why you should “do what you know” if you’re going to start your own business
Turning a large single family property into a multi family for house hacking
Why dropshipping is such a great side hustle for busy people
And SO Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/moneyshow160

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