Our guest today is Jennifer Grimson, a coach, real estate investor, and podcaster, who created a concept called Micro Empires. In this episode, she breaks down the many ways she invests and how you can build your own micro empires too! If you are ready to diversify your income streams and set yourself free financially, then this episode is for you! Learn more about Jennifer and her journey at reiclarity.com!
“My thought was if it belongs to me, it's an empire.”
Jennifer was a single mother, who lost everything in her life twice. She found herself with no money, no job, and no place to live with her two children. After the second time, she realized that she didn’t want to be dependent on others anymore and instead of only looking for a job, she started to search for ways to diversify her income and build lasting wealth.
This is when the concept of micro empires was born. Jennifer started to build different streams of income which included her day job as a salesperson, coaching, real estate investing, and art.
“There's always something that you can do, hopefully, that you enjoy. And hopefully, that builds on what you're already doing.”
Jennifer suggests to always have at least 3 streams of income. To find these streams, look at your talents and figure out what you do so well that other people ask you for it. Then start to build businesses around these talents.
Jennifer was always good at storytelling so she built her micro-empires around business coaching, high-level executive resume writing, and Linkedin networking coaching. She also invests in multifamily real estate and until earlier this year, Airbnb. She invests in broad-based index funds and paints as well.
According to Jennifer, believing that what you’re doing is worth it is important and it often requires a mindset shift. Her advice on how to start charging for what you love to do:
“I'm looking at other multifamily but really anything that creates cash flow is what I'm interested in.”
Jennifer always wanted to get into real estate investing. She started out with Airbnbs using her 401k. This turned out to be so lucrative that she was able to quit her corporate job at the end of 2018. However, the market was becoming too saturated, so Jennifer decided to sell her Airbnbs just a month before COVID hit.
Jennifer has been investing in a joint venture with 67 doors and in the future, she would like to buy more multifamily.
Jennifer’s advice on finding ways to make money while keeping your day job:
Mentioned in the show:
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