The Level Up Podcast w/ Paul Alex - Creating Passive Income Streams A Beginner's Guide

Episode Date: April 23, 2024

“Your Network is your NETWORTH!"Make sure to add me on all SOCIAL MEDIA PLATFORMS:Instagram: https://www.instagram.com/paulalex/Linkedin: www.linkedin.com/in/realpaulalexFacebook: https://www.facebook.com/RealPaulAlexYoutube: https://www.youtube.com/@OfficialPaulAlexLooking for a secondary source of income or want to become an entrepreneur?Check out one of my companies below to see if we can help you:www.ATMTogether.comwww.Merchantautomation.comFREE Copy of my book “Blue to Digital Gold - The New American Dream" www.officialPaulAlex.comLeave a review, like and share to help others and let’s level up together!Welcome to Episode 40 of our podcast, where we delve into the lucrative world of passive income. Join us as we uncover the secrets to creating sustainable wealth and financial freedom through passive income streams.In this episode, our host breaks down the fundamental difference between active and passive income, emphasizing the importance of shifting from trading hours for dollars to building systems that generate revenue effortlessly. Drawing from personal experience, our host shares how they transitioned from law enforcement to entrepreneurship using passive income as their vehicle to financial freedom.Discover why our host prefers smaller, more accessible businesses for generating passive income and how they found success in the automated teller machine (ATM) industry. Despite initial skepticism, our host's journey from one ATM to financial freedom in just 18 months showcases the power of persistence and smart investing.Learn how our host navigated skepticism from colleagues and family members, and why they chose to maintain their 9-to-5 job until they felt confident in their business ventures. With a blend of practical advice and inspiring anecdotes, this episode empowers listeners to take the leap into entrepreneurship and explore diverse avenues for passive income generation.Whether it's ATMs, digital marketing, real estate, or stocks, our host encourages listeners to embrace their entrepreneurial spirit and pursue their dreams with unwavering determination. Through self-belief and action, anyone can achieve financial independence and build a legacy of wealth.

Welcome to the Level Up Podcast. I'm your host, Paul Alex. I went from being a cop to an eight-figure entrepreneur that helps average people like you and me make money every single day. I created this podcast to help you get motivated and to crush your goals. Let's win together.

Remember, I have your six. Get ready to level up right now. All right, guys, let's talk about my favorite subject, passive income. Now, before we dive into this and how I was able to initially create passive income as my vehicle to be financially free from law enforcement, let's first talk about what's the difference between active income and passive income. Active income is the amount of hours that you guys actually work at your nine to five or at your business. And depending on how many hours you work, that's how much you get paid, right?

Passive income, you're able to do either the same amount of work or even less or no work, and you're able to get paid the same amount. Now, there's a saying that Warren Buffett always says, you will die working if you don't generate passive income. And that's the truth, guys. This is why you have a lot of these influencers, consultants, coaches online right now talking about real estate. That is basically everybody who goes into the online space and wants to talk about passive

or residual income. They usually talk about real estate. Real estate, it is good. But here's my way of thinking and the reason why I've been able to scale so fairly quickly in the past six and a half years as a full-time entrepreneur now. And it's just simply because I look for smaller wins. And what do I mean by that? I'm talking about smaller, easier businesses to invest into that's going to get you an automatic ROI on your money. Now, the first business that I invested to while I was still in law enforcement was automated teller machines.

In 2024, the market is getting saturated for this, so it is harder to get into, but there still is a market, guys. If you guys didn't know, 25% of the United States actually still uses cash because we call that category the unbankable. What does the unbankable mean? Meaning that more than likely something happened in their history where they cannot use a bank. A bank will not allow them to use bank accounts. So they have to get charge cards. Charge cards is usually they have a fee on a monthly basis.

They could get it from a liquor store, a cell phone place, and they can recharge those cards with their check that they get paid with. And then they have to go to one of those local ATMs to withdraw and they get charged the fee. With that being said, guys, it's still a very good market if you know what you're doing and you have the right mentor. And this is how I started. So back in 2018, I had a friend that went ahead and actually told me about ATMs. They're like, hey, Paul, you should check this business out because, you know, not a lot of people are doing it right now or it's not known yet. So if you go ahead and jump into this, you can make some money and just invest all your overtime funds that you're currently working on right now. And I told him, dude, like, that's a silly idea. It's not going to work. And what

are you talking about? Not all people might know about investing in ATMs, but there's already ATMs everywhere. Right. And he's just like, no, dude, like you got to understand, man, this is an opportunity in a lifetime. Well, a year later, I went ahead and actually started doing ATMs, guys. As funny as it may sound to some of you guys, because I had co-workers who were like, dude, that's so weird. Like you're a detective and this is your career and you're all of a sudden doing ATMs on the side. Why?

And I just, the first thing that would come up to my mind is like residual income, passive income. I'm just trying to make money, make my money, make money. And this is just a simple business that I could try. So then within a six month span, guys, I was able to go from like one ATM to about 10 ATMs. Within an 18 month span, I was actually to go to 30 ATMs, which made me financially free. At that time, my bills was around like $6,500. And I was living in the San Francisco Bay Area,

had a million dollar house, was living in the best neighborhood, was driving like my dream car at that time, which was a Porsche Panamera. And guys, I was just living the dream, right? But I didn't quit my nine to five yet. And the reason why is because I still stuck with the limiting beliefs that my parents told me. They're like, hey, unless you are 100% sure about this business, do not quit your career yet.

And even though the business was very sustainable, and to this day, it still runs, I always had that limiting beliefs. It wasn't until I reduced my workload from 80 to 40 hours and then started going into building other businesses, which then I started in digital marketing, which is why I'm even here now. And three and a half years later, since I started digital marketing, guys, I've been able to expand to multiple companies, have over 70 employees, and go ahead and actually educate and actually teach and actually help over 3,500 entrepreneurs nationwide and in the US how to generate their own business and generate cashflow so they could build their own passive income and residual income as well. So yeah, just go ahead and just do the

jump guys, do the leap. And I could just tell you this, it doesn't matter what it is, whether it's ATMs, credit card machines, real estate, stocks, trading, whatever it is that you guys want to try, just do it. Okay. That's the whole point of this pod is just to give you the self-belief that you guys can do it because at the end of the day, I'm no one special. I'm just an average guy that just tries. All right. Hope this helps guys. Take care. Remember, I always have your six. Make sure to share this episode with your family, friends, guys. Take care. our reviews on iTunes coming, this episode is going to help change the way the world thinks and will help everyone level up in their life. And lastly, if you want to continue to level up, learn more about business and life, then make sure to get a copy of my book, From Blue to Digital Gold, The New American Dream on Amazon or at officialpaulalex.com.