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in this video i wanted to talk about a concept that's not very discussed and is a great way to get into real estate and make it big and this is through your ordinary everyday service business i know i know it doesn't sound cool it's not sexy but it works and let me explain service businesses are some of the easiest to start businesses around and that's why there are many people's first business pretty much everyone that i personally know who has any amount of wealth started with some form of small service type business and then they either kept that and grew it or transitioned into something larger but literally every person i know with a lot of wealth started with something like that and the reason why people start with that is the low barrier to entry and they're needed people need these services for the most part they're not going anywhere people need things done at their houses and it's it's not going to be automated anytime soon however a service business can be much more than just replacing your job on its first level sure you know you might quit your job and then replace it with a service business startup that you just started maybe you do landscaping or something like that that was my first service business and you're just replacing your income generally you're working for yourself maybe you have an employee or two but for the most part you're earning your income on your own time and your own labor on a second level that's when you maybe have between 10 and 40 employees you might have several crews of people out you can earn up to several hundred thousand dollars a year with a service business that then scaled you are doing an awesome job maybe you have good reviews you have repeating customers you have a clientele base and you have a generally well-oiled machine many service businesses don't get past that second level with very few exceptions because most industries service business industries can't really support a single location that does 50 100 million dollars a year because the barrier to entry is so low that there's so many competitors things get eaten up you know market size gets eaten up because it's so easy to get in with few exceptions things like electrical contractors general contractors some plumbers have very significant businesses but a lot of home services just don't seem to have the ability to get to that size but there's a transition that can be made either from that level one where you're working for yourself or level two where you have a few crews of people of a service business there's a transition into real estate and this is really exciting because it doesn't take the luck and the skill of going from that level two to a level three where you're a 100 million dollar company it's much more simple than that and i came across this realization everyone i know who owns a significant amount of real estate used a small business to purchase and fund the purchases of all that real estate and here's some examples just from people i personally know i'm sure you know people yourself as well the first one being my friend nick who i've had on this channel i interviewed him it's an awesome interview if you want to check out learn a little bit more about his business but he started a student storage business with a friend from college and with that business he was then able to purchase a multi-million dollar self-storage facility and a sense in the last five years growing from one location and now i think he's looking at around 10 to 12 locations across the country by next year it's absolutely exploded in growth because of that original service business the next example is my dad who used a single person cement contracting business he just worked for himself it was very small used that to start purchasing very small rental homes he was able to take advantage of like the 2008 2009 housing crisis and purchased some real small homes for super low prices and now he makes more from his small home rental business i guess than he did from his cement contracting business with much less work the next person is a business owner that i was just in contact with a couple weeks back who owns an insulation business like the insulation in your walls and your ceiling of your house and he used that business to purchase a two million dollar warehouse that he uses to hold his equipment and his office workers work from it but he was purchased that 100 percent just from profits from his service business another person this is a really significant one owns a very large moving company and with that moving company he was able to over the last 14 years he's purchased five entire warehouses in the northeast of the country he bought this just with income from his moving company and i'm sure the majority of the value in his business is in those massive warehouses that he owns that are appreciating every single year another person a smaller example is my girlfriend who started a home cleaning business under my guidance less than a year ago i think it's like nine or ten months ago and she is already considering buying her first rental property just with the profits of her startup 9 or 10 months ago also in my teens i worked as a janitor for a daycare and the owners of that daycare they had four locations in a smallish area up in northern minnesota and with that business they actually owned all four buildings and i've talked to them about it and that is the majority of their net worth is held within those buildings that the business operates out of so even if the business isn't doing that well they still have all this real estate that they can later sell as a retirement plan and in my own personal journey i was able to purchase a home in a great neighborhood in arizona at 21 years old because of a combination of my pool cleaning business and my moving company business service businesses and then on top of this my moving company also does storage and this is slowly building a reoccurring revenue stream every single month that will eventually allow for the payment of a million or multi-million dollar warehouse right now i'm about a third of the way away from being able to afford a mortgage for a million dollar warehouse just with the storage that is sitting in the warehouse that i currently rent and then other profits from my moving company that i've been saving up over the years may go into real estate as well via purchasing self storage facilities like i mentioned nick does and obviously i have experience in this field so that's something that i'm seriously considering doing and if i do so i will 100 have more content on in the future but what i'm getting at with all this is a service business does not have to be working for yourself on the first level it doesn't have to just be sweat it it can be a means to an end it can be a means to getting passive income i know everyone wants that passive income i don't think even real estate is necessarily passive but it's more passive than a service business and like i said you don't have to be making hundreds of thousand dollars a year to get something like this going you can start small and let the appreciation help you over time and slowly grow that into something massive it can be used to help fuel a machine that grows with every passing year providing consistent income with awesome tax benefits and you still have the service business then feeding the machine and if done right eventually the real estate income surpasses business income and you have even more options on what you can do next and the best part of all this is you don't need a revolutionary idea you don't need rich parents or outside investment you don't even need to be lucky to make this happen all you really need to do is the willingness to work hard and then save your earnings in order to later feed this real estate machine that you can later buy into it's really such a simple option and it's not going anywhere soon this is still going to be an option 10 years from now 20 years from now really the key is just starting today so i'd like to thank you for watching i hope this helps someone out there and i hope you have a profitable day you