Scale Your Side Hustle into a Multi-Asset Syndicate (Turo, Airbnb, & Sales)
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Many side hustles are like jobs, where pay corresponds to the time spent. When you work, you earn income, and once your work ends, so does your income. I just recently came upon the "YNR Model" created by Michael Lanctot. His strategy will show you how you can make the shift from earning an active income to owning an actual asset.
The following are the steps in the transition from the "hustle" phase to the "wealth" phase utilizing this blueprint:
Phase 1: The Cash Cow (High-Ticket Sales)
Searching out the means to build and sell a product is your first step. For Michael Johnson, doing door-to-door sales helped him create a base for his growth.
• Action: You could also seek out an uncapped commission job, so instead of earning a $20 per hour 'side-hustle' right now, look for a permanent commission position (or create one) that pays well enough. Use those funds to create 'dry powder' or liquid assets.
Phase 2: The Stability Floor (Turo/Fleetandgo)
Buy a vehicle that you will have cash for before your first car purchase as a personal vehicle.
• The Step: Michael did this by setting up Turo and creating Fleetandgo. Turo helped create a day-to-day cash flow for Michael. The cash from Turo paid for all of Michael's fixed expenses (rent, utilities, etc.), allowing him to use every dollar made from active selling as profit to reinvest back into his business (along with Turo's profits).
Phase 3: The Recession-Proof Hedge (Section 8)
You should move your Turo profits into real estate.
• The Strategy: Michael focuses on Section 8 rentals and Airbnbs.
Section 8 properties provide a key advantage. The government guarantees your rent payments. This income acts as the ultimate hedge against a slow month in the sales world.
Phase 4: The Syndicate (Community & Network)
Michael's success can be attributed in part to the creation of the YNR Syndicate, which produces more than just connections; it creates a network of individuals who are willing to mutually exchange their resources with you. The members of the YNR Syndicate will pass along recruiting leads and help you identify investment possibilities you may not have otherwise noticed.
TL;DR: Instead of spending time working for a wage, invest in an income-generating machine. Use the YNR Group to engage in high-ticket sales and use those funds to establish automated income-creating opportunities via Turo vehicle rentals and Section 8 housing. By establishing an income-producing syndicate, your objective should be to attain $1M or greater in income per year.