October 2, 2024
Something I’m Reading
Still working through the second Hyperion book. Last week’s Maui Real Estate Mastermind kept me busy 24-7 (it was SO good. Sign up to be notified about the next one here) - so I have not got a lot of reading in. I also just bought “Unreasonable Hospitality” which I’ve heard is amazing and I’ll start next.
Something I Photographed
Hanging out on my porch swing in the morning with my little girl. Such precious time that I’m going to miss so badly someday
Something I’m Excited About
Looking forward to The Fifty event in Phoenix next week! It’s a small mastermind I run for full time, millionaire real estate investors.
Something I Recommend
I learned the hard way that managing tenants can be a nightmare without the right tools. That’s why I now use TurboTenant. It simplifies everything from background checks to credit reports, so I can avoid problem tenants from the start. Plus, it helps with marketing, custom leases, and automatic rent payments, making my life as a landlord so much easier. Don’t make the same mistakes I did. Use code Brandon10 for 10% off at TurboTenant.com/betterlife."
One of the most powerful tools in real estate is something surprisingly simple: a handwritten note. In a world full of emails and text messages, a personal touch stands out and gets results. Whether you're looking to buy your next investment property or reach more potential sellers, Ballpoint Marketing handles it all—from building targeted lists to crafting and sending personalized notes. Their 'done for you' service has been a game-changer for my business. For up to 15% off, visit BallpointMarketing.com/BetterLife. I don’t earn anything if you buy—I just believe in the power of their work.
Some Thoughts to (Hopefully) Make Your Life Better
7 Million-Dollar Business Ideas That Aren’t Real Estate Investing
Real estate is one of the best vehicles for growing wealth, but here’s the thing: before you can grow wealth, you need to build wealth. And one of the most effective ways to build wealth is by starting and scaling a business. A business can generate substantial income, and the best part is, you can funnel those profits directly into real estate for long-term growth.
Today, I want to share seven business ideas that can generate $1,000,000+ in annual income, providing you with the capital to fuel your real estate investments. Let’s dive in.
1. SaaS (Software as a Service)
Building a SaaS business involves creating a software tool that solves a specific problem for customers, often through a subscription model. This is one of the most scalable and lucrative business models because once the software is built, it costs very little to onboard new customers. Whether it’s a tool for managing rental properties, automating marketing, or streamlining a workflow, a SaaS product can generate recurring revenue month after month. With the right product and marketing, this can easily become a seven-figure business.
2. Franchise Business Ownership
Owning a franchise is a proven way to build wealth by following a successful, established business model. Franchises like fast food chains, gyms, and cleaning services allow you to tap into a recognizable brand and a system that's already been optimized for success. You don’t have to reinvent the wheel. By following the franchisor’s guidelines and scaling your franchise ownership (by acquiring multiple locations), hitting $1,000,000+ in revenue can happen quickly.
3. Membership Site
Building a membership site allows you to provide ongoing value to a niche community in exchange for a monthly or annual fee. Think about it—people are always willing to pay for exclusive content, training, or networking opportunities. I run **The BetterLife Tribe**, which operates on this model. The Tribe helps people set goals, build habits, and stay accountable, though I give away 100% of the profits to charity. But for those looking to live on their profits, a membership business can generate massive income once you’ve built a strong community of loyal members. With recurring revenue, this model scales beautifully.
4. Mobile Car Detailing
Mobile car detailing is a simple but effective business that’s low cost to start and easy to scale. The idea is to bring premium car cleaning services directly to the customer, providing convenience for them while allowing you to charge a premium price. Start with a few local clients, and as demand grows, you can hire a team to expand your reach. Before long, you’ll have multiple mobile units operating and generating significant income.
5. Property Management Company
Starting a property management company allows you to manage rental properties for other investors. This business can be highly profitable with relatively low overhead costs. You handle everything from tenant screening and rent collection to maintenance and repairs, taking a percentage of the rent as your fee. As you take on more properties, you can scale by hiring staff to manage the day-to-day operations. The more properties you manage, the higher your revenue, and property management businesses can easily become million-dollar operations.
6. Commercial Cleaning Services
Commercial cleaning services are in high demand, and once you establish yourself with a few solid clients, the business can scale rapidly. Office buildings, restaurants, and other commercial spaces need regular cleaning, and you can build a team to handle multiple contracts at once. By expanding your client base and possibly offering specialized services (like floor care or window washing), you can grow this business into a million-dollar enterprise.
7. Roofing
Roofing is an essential service that’s not going anywhere. People always need roofs repaired, replaced, or installed—whether it’s homeowners, landlords, or commercial property owners. This business can be highly lucrative, especially when you start working with commercial clients or large-scale residential developments. Roofing can be scaled by hiring skilled teams, expanding your service area, and focusing on excellent customer service to generate word-of-mouth referrals. Plus, once you establish yourself in the market, you can move into bigger, more profitable projects, increasing your revenue year over year.
Starting a business can be one of the most powerful ways to generate the capital needed to grow your real estate portfolio. Whether you’re building a tech company, managing properties, or running a roofing business, each of these models has the potential to generate $1,000,000+ annually.
Remember, the key to scaling any business is to focus on systems, customer service, and leveraging profits into long-term wealth-building opportunities—like real estate.
If you're ready to level up your financial future, choose one of these ideas, build it out, and start using those profits to build the real estate empire of your dreams!
Love you!
Disclosure: “Some of the links in this post are affiliate links, which means I may earn a commission if you click on the link and make a purchase. However, please note that all opinions expressed here are my own and I only recommend products or services that I have personally used and found valuable."