One of the biggest secrets of a fulfilling economic life is this: you can always make more money, but you can never make more time.
What does this mean? Simply put, there will always be a limited number of hours in the day, and there will always be a limit on the energy and resources someone has to actively earn money by trading those hours for dollars.
On the other hand, if one is able to find and invest in an asset that has the ability to generate income without active work on the part of the owner of the asset, this is the secret to unlocking true wealth and success as an entrepreneur.
Austin Walker has mastered the art of generating passive income through building an Airbnb empire of more than 150 locations across the world. By rising from the adversity of prison and difficult business relationships, Austin began with a few properties, developed a system and a formula, and continued purchasing properties in order to create a life altering business for himself.
“I just trusted my vision and knew that my formula could work if I just pushed through. One’s definition of success is directly related to how you were doing before taking on the project. Prior to doing Airbnb I was fresh out of prison living at my mother’s house and doing yard work to keep my stay. [But] I had a game to play everyday and I became addicted to it. Within a year’s time I had 12 apartments and was making over $20,000 a month profit.”
In building his Airbnb empire, Austin is fulfilling the art and science of passive income perfectly: he has capitalized on an asset people want, places to vacation or rent, and he’s letting the demand for those assets, and the assets themselves, do the work for him to generate revenue while he sleeps. He works very hard of course, but isn’t simply trading dollars for hours.
Austin Walker is the consummate entrepreneur, and his journey is just beginning.