In today's episode, I want to pull apart a concept that I think is really important for investors to understand, particularly experienced investors who may feel that they are getting a lot of wins.
I want to distinguish between passive and active investing and how that contributes to a passive income investing strategy.
I had a call earlier this week with a really great guy who has, on all accounts, been really successful both in terms of business and his investing endeavours: he's purchased a number of real estate projects. Some of those have phenomenal development potential and it looks like he's going to be able to convert a couple of those sites into some industrial, light industrial and townhouse construction developments.
I started to pull apart what this guy already had in play. And it was really apparent to me that although on the surface it was a great portfolio, he had a high net worth and a great income, he had to work really, really hard to make this strategy that he was working on profitable.
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