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The “Do What You Love” Show: Episode 4 – The Quest for Passive Income with The Ren Men

in Do What You Love, Videos

[If you cannot see the video above, click here to watch the interview directly]

Episode 4 features Grant Peelle and Alan Ledford of The Ren Men Show. Grant and Alan have built a Real Estate portfolio of 80+ properties, run a vending machine business, own a video production company, and just recently started a used car lot.  Their online video show, The Ren Men Show, is the best produced and edited show I’ve ever seen in the niche.  They go in depth with different issues surrounding their businesses and passive income opportunities and always seem to have a blast in the process.  I never miss a week!

Episode 4 Content Guide:

  • [01:00] - A 30-sec introduction to what Grant, Alan, and The Ren Men Show is all about!
  • [02:10] - The size of their Real Estate portfolio and why they’ve decided to branch into other business, as well.
  • [03:45] - Being able to seize opportunities, a.k.a. how they ended up in the used car business.
  • [05:10] - Why the ability to adapt is much more valuable than the ability to plan.
  • [06:50] – Grant and Alan’s management styles (they are polar opposites) and how they’ve turned that into a strength.
  • [09:35] – Grant’s background and motivation in getting into the entrepreneurial lifestyle.
  • [11:20] – Alan’s background and why he feels like a non-entrepreneurial entrepreneur.
  • [12:10] - Grant and Alan’s 3 core mentors who have inspired their business ventures.
  • [14:20] - The opportunity to leverage offline skills in the online world.
  • [15:25] - I ask the Ren Men where they see themselves in 2 years!  (Specific numbers/goals for each venture)

The Ren Men’s question for you!

I forgot to ask the Ren Men for a question for you guys!  Doh!  (fail)

However, I know these guys are passionate about searching out opportunities for true passive income.  While they both possess an intense work ethic, they are constantly pushing for ways to “remove self” from their business.  They focus on building systems and delegating the “busy work” to focus on growth.

Personally, this is an area I can work on a lot more (and Grant is pushing me to do so).  The larger my business grows the more of a “job” I’m building for myself.  I don’t mind putting in the effort, especially in a field that I’m passionate about.  However, there is at least 50% of my day-to-day activities that I could be “removing self” from.  This would free up my time, my energy, and my stress levels to tackle the things that could really add significant growth and satisfaction.  :-)

What are your thoughts on passive income? I like the concept, but haven’t done a great job in aligning myself with it.  Grant and Alan seem to really “get” the concept and use it as the focus of their efforts.  What about you?

Is your ultimate goal some form of passive income (retirement, business, investments)?  Are there ways you could make your current income more passive?  Let me know in the comments below!

Don’t forget to stop by and subscribe to The Ren Men Show.  You’ll be impressed.  I promise.

{ 17 comments… read them below or add one }

David Crandall May 6, 2010 at 10:30 AM

I’m curious if you consider ‘Unautomate Your Finances’ a version of passive income. Not as lucrative as real estate, but the investment is smaller obviously.

Personally, I’d be super interested in what the 50% of your day is that you said you can remove yourself from. I’d love to know what those types of things are so that I can be on the lookout to avoid them myself.

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David Damron May 6, 2010 at 11:03 AM

Hey Adam—-

Great interview. Thoroughly enjoy these guys videos. I think it is incredibly produced as you noted and I am very curious (hopefully, the ren men are reading this) what programs, tools, etc they use to put their show on and put it together. I love all of the effects, but have absolutely no idea how to do any of that. So Ren Men, if you are listening, please pass on your tips for video creation. (Or email me ddamron44 at hotmail.com)

Thanks
David
The Minimalist Path

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The Ren Men May 8, 2010 at 11:12 AM

DD,
Our video staff takes care of all of those fantastic effects. We’ll talk to them on Monday and let you know…thanks for watching…

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Christine | Money Funk May 6, 2010 at 2:53 PM

Gotta luv the Ren Men. Very funny. And have built quite a fabulous real estate empire. Definitely an inspiration. Especially if you’ve seen their video on Tim Ferris’ site about the four hour work week; the Ren Men and their mini-retirements. Sweet!

BTW, Adam. I see you as a ProBlogger in no time! ;)

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The Ren Men May 8, 2010 at 11:14 AM

You DO have to love the Ren Men…no, seriously, thanks for watching…you rock Christine…

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Josh Crocker May 6, 2010 at 3:25 PM

“As much childhood fun as possible.”

I love these guys!

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The Ren Men May 8, 2010 at 11:15 AM

Thanks Josh…if you are not having fun, you aren’t doing it right, that’s what we were always told…thanks for watching…

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Karl Staib - Work Happy Now May 6, 2010 at 5:18 PM

I love seeing what other entrepreneurs are doing to leverage their superpowers. These two guys bring different skills to the table and make them complement each other. They have also really run with the idea of passive income so they can live the lifestyle that makes them happy. As I build my business I know how hard it is to create steady passive income, maybe I’ll look into real estate further down the line.

We live in a time where we can create a life that fulfills our happiness. We can help each other live better lives and in the process earn a living. That’s a wonderful gift.

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The Ren Men May 8, 2010 at 11:17 AM

KS,
No more down the road…start looking into real estate yesterday…just start with some research and let us know if we can help in any way…thanks for watching…

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Kyle May 7, 2010 at 4:34 AM

I think passive income is a bit of a misnomer. There is still a lot of non-passive work that has to be done in order for the “passive” income to be relatively successful. Take your eBook, for instance. You put in a lot of upfront time making it and promoting it so that it would sell. I mean, to a point, isn’t everything passive income? When you make a product, there is a lot of effort upfront to make it and then it is shipped to a store where the product maker does not actively sell it. Why don’t we consider this passive?

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The Ren Men May 8, 2010 at 11:22 AM

To a point most ‘things’ are passive, except when you trade time for money…time is the most sacred non-renewable resource. Any product or service can eventually be passive, just don’t trade time for money and you’ll be alright.

We do a ton of upfront work, to setup our systems so eventually it will become passive income for us. An eBook makes for great passive income. When you create something once and it continually to pay you over and over again (book, course, tv show – syndication, real estate, etc.), that’s is passive income and a beautiful thing.

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Jonas Goldman May 7, 2010 at 8:15 AM

I was thrilled by the video. Maybe your followers would also like to listen to a podcast on passive income streams. VBL Podcast: Passive Income – The SMART Way, with Pat Flynn!. The podcast gives more insights on how to create passive income streams.

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The Ren Men May 8, 2010 at 11:24 AM

JG,
Thanks glad you liked it…Pat Flynn is the man…we had the great fortune to interview him for the Ren Men Show…
http://www.renmenshow.com/2010/01/28/the-ren-men-show-lifestyle-design-blog-episode-8/

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Lou May 7, 2010 at 10:41 AM

Baker — Great interview! I’m a fan of the Ren Men (I’m a Ren Menion!). The thing I appreciate about them is that they are practicing lifestyle design, but are doing it offline and without traveling the world. Too often, people get lifestyle design confused with traveling or expatriation. Lifestyle design can involve world travel or relocation, but it doesn’t have to.

Thanks for taking us along to the Peelle Family cabin. I really enjoyed the interview.

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The Ren Men May 8, 2010 at 11:27 AM

Bake,
Just wanted to let you know, we sold our first car yesterday! The Ren Auto Group is officially official! Who wouldn’t want to buy a 2000 Chevy Venture Van from the Ren Men? Scary…

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Pat May 14, 2010 at 10:43 PM

I love Grant and Alan! You can call me a Ren Men fan boy, hehe. Great interview!

Actually, I had the pleasure of speaking with them in an interview myself a few months back, and they’ve really got some awesome and inspiring stuff going on. I can’t wait for each new episode!

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Sally September 14, 2011 at 6:15 AM

Thanks for the great interview. I just love the Ren Men. They are a classic. Look forward to listening to more interviews.

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