E007: Looking at Multiple Income Streams with Mega Real Estate Agent Mark McGuire

Mark is a mega real estate agent, investor, and entrepreneur. He leads his residential real estate sales team in the Philadelphia suburbs. He got started investing in real estate five years ago. Prior to real estate, Mark used to play in a professional band for seven years. Here’s what we talked about: How he translated his success in real estate to investing in real estate Mark’s musical career A decision-making process that led him to appreciate the value of multiple income streams Episode Highlights: How He Translated His Success in Real Estate to Investing in Real Estate Many real estate agents and higher performing corporate individuals spend way above what their means are. They create this lifestyle they have become accustomed to but isn't sustainable. So they end up burying themselves in debt and they just never get out. They don't invest in the way they need to. His Musical Career Mark and his band performed in large shows and major festivals around the country and some parts of Canada. They eventually got an offer from a record label. But he got his real estate license at that time so he knew it was time for him to do something different. Mark has always been the math guy in the band, doing logistics at a very early age and working while playing in the band. So he was the only guy that had any money. Growing Your Income Streams The interesting thing about music that no one talks about is publishing and royalties. When he was getting out of the band, they offered to buy him out of the contract but he decided to keep his rights to the royalties. It never panned out anything, but he's proud of the decision-making process because it got him to think on the front of multiple income streams. This was when he transitioned into looking at income, not in terms of how much he's making a year, but how many streams he can add.

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E007: Looking at Multiple Income Streams with Mega Real Estate Agent Mark McGuire is an episode from Wealth Building With Friends by Bob & Usha with Melanie & Josh McCallen.

This episode is 00:37:21 long.

This episode was published on Feb 23, 2021.

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