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good morning good afternoon good evening folks michael's uber one rental at a time back with my good friend friend stratton brown how you doing sir i'm doing great how about you mike so our fourth and final topic that i captured from your instagram page is a personal pet peeve of mine and that is social media gurus experts influences whatever the hell they're called these days are talking about multiple streams of income like that's the answer for everyone and while it sounds sexy while it looks good i believe it's focus focus focus get good at one thing and then after years of success you can talk about multiple streams of income but that's not popular that's not sexy so you had a video on that on your page what do you think i think you need to have a money problem first before you can talk about like multiple streams of income and generally this is my rule and i don't i invest in e-commerce real estate i throw money and i talk to someone like hey what cryptocurrencies do you like he's like i like these because of this and this and always made money like okay i'm not throwing in serious cash but that those are the only and then myself right right but as far as like people trying to get into multiple different verticals like you bro like you have to start over again you have to start pushing that train again you have such a big learning curve toward now like even in our media company like the learning curve is really really big because it's not based off of like what i've been doing as far as like let's say e-commerce or like all of our other stuff is real estate based right right it is all real estate based to where it's really like okay this this this plug it there we're good to go we can keep making money and it stays in the vertical yeah if you leave the vertical and you have to learn a whole new skill just imagine so college should be if college was a year that you have a year of learning and or paying someone to help you learn before you even start to make money yeah you need to have an income problem like let's learn how to make a million dollars first yeah i haven't now i'm making or at least let's call it five hundred thousand dollars first i make 500 000 a year no matter what i'm that good now you can have a different like conversation about diversifying yeah like okay i'm gonna diversifying this i'm diversifying that i'm diversifying other companies yeah but if you're just going like heat just getting started and this is the number one thing to where i see with young men trying to get into entrepreneurship and they're doing drop shipping they're streaming they're doing wholesaling real estate they're still trying to get their real estate license and they're selling solar all at the same time yes yeah i see that as well again and i think social media influencers are the are the problem frankly most of them aren't doing what they say they're doing they aren't profitable doing what they say they're doing but yeah folks if you gotta get good at something get good at something yup you know be that drop shipper or be solar or be whatever it is be good then move oh yeah and most of these influencers i would say are on if they do say multiple streams of income it's like okay well i invest in syndications i have some money in cryptocurrencies and they probably have the same thing as me and then i'd say consulting for me is like another stream of income we have our rentals and then the e-commerce stuff is so straightforward and basic it wasn't like i was going and starting another company right right when p when you're going and you're trying to get started and you're doing like four different things that means you're starting four different companies jeff bezos has one company yeah right like amazon's build of like 1400 but it is one company that he stayed focused on and pushed forward bill gates the same thing steve jobs right like it's one company that they've gone pushed forward perfected and kept going and then okay yes they could invest and protect their money but like i have more money than god why don't i need to invest my money yeah yeah folks again different diversification is a hot topic because um i forget his name all of a sudden warren buffett and his peer or his buddy charlie munger got it brain fart charlie munger was asked about diversification the other day i guess this is 10 years ago but i saw the video the other day and he basically said diversification is for the um the know nothing investor he's like hey if you don't want to know anything then diversify but hey if you want to know he's like dude there's been several times in my career where i had 75 or more on one investment because he did the homework he did the work so do your thing diversification is not the answer it's not the panacea for everyone at least not in the beginning i mean i don't even know what else you would i feel like i'm at the point where i will not diversify anymore right let's we have four different companies and i'd say one of them is really outside of the realm of real estate and the again the learning curve is just like right to where again like it takes up your energy it takes up your focus and that's all you have to push those things forward toward again you're just falling behind you're hiring a new type of person you're doing all these things but i mean if you're in real estate yes buy an e-commerce store educate yourself go with the good operator and i'd say that's like our diversification all right we're buying crypto we can all go read on crypto and there's like 10 that people invest in right right but i don't but i don't touch stocks i don't control them i feel like crypto the only reason i invest i'm like yeah man i hate the government i hope crypto does good it's my anti-government play like okay like i [ __ ] the us dollars just gonna go to dog [ __ ] yeah how can i somewhat hedge and then still make some money and i know people would make tons of money like okay so there's an upside yeah well i got if i go and i strongly focus on that what's gonna happen in the other three companies yeah like when you especially if you don't have people in place running those companies exactly yeah then everything just falls to the wayside yeah again folks if you're getting started you have a day job like i did go do great work there don't don't and then build the side build one side hustle right which for me was one rental at a time when i retired that's the only time i started flipping after my day job went away i didn't i didn't flip a home even though i could have i could find stuff i just wanted to keep everything then this then that then this yeah diversification flipping's another business dude now okay well we need more capital guess what i got to start doing i got to start raising more cash like i got to start managing contractors the time that it takes two i was talking to a mentor but i was like bro i i think i'm leaving so much money on the table like should i just flip more he's like no like do you want to start another business he was like but raising capital is a full-time job if you're going to do it the way i know you're going to turn into a maniac about it like you you're going to lose focus yeah very well said dude this has been a lot of fun i'm going to keep following you on ig and what what is that again for folks at strat daddy and strat brown on youtube there you go and strat brand on youtube thanks buddy i appreciate your time thanks mike
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