E225 - Understanding the difference between transactional and passive income will help you get ahead | with Chad King - Jeff Mendelson | Automation Superhero

E225 – Understanding the difference between transactional and passive income will help you get ahead | with Chad King

Chad King, business coach and founder of Titan Capital LLC, understands the importance of passive income streams. As a Florida University graduate with a Finance & Accounting degree, Chad started his career in sales at Xerox. Even though he was the top producer at Xerox, it wasn’t where he wanted to be. Thankful for the entrepreneurial lessons he gleaned during that time, Chad jumped into the real estate business and never looked back. To date, Chad has completed over 450 fix and flip deals and continues to build generational wealth by investing in passive income-producing assets. Chad is also a successful business coach specializing in teaching sales, financing, asset acquisition, and income stream building. 

Everyone is in sales in some capacity or another. Whether it’s our product, service, or personal brand – we are all trying to sell something to someone. Most sales models are not as antiquated as door-to-door sales, but the lessons are still the same. Chad thanks his years selling copiers for the important entrepreneurial lessons that carried over into his current career. Sales teach you to deal with rejection and build a rapport with people who don’t want to deal with you. Most of all, sales teaches you to be mentally tough by not letting failure slow your momentum. 

According to Chad, two key elements of a successful entrepreneur are emotional intelligence and tactical empathy. Tactical empathy allows you to understand the interests behind the other side’s positions without agreeing or feeling compassion for them. While emotional intelligence helps build relationships and defuse conflict. When dealing in sales, Chad relied heavily on these two skills to advance his real estate career in the business of flipping houses. The deal had to be creative, especially when the purchase was below market value, so both sides walked away as a winner. 

Along the way, Chad realized that if he wanted to retire at an early age, transactional income wasn’t going to get him there. It sounds a bit counterintuitive if you’re not well versed in the concept of passive income streams. If your income is transactional-based, you must continually make those transactions occur, day after day, year after year. To attain wealth, you need to invest the monies you make transactionally and purchase investments that generate passive income year after year. Chad’s key component in his mastermind coaching course is not to make $1 million on one deal and then sit on your laurels. Instead, make $1million on one sale and then invest that money so it will give you a return without any effort for the rest of your life. That is the secret to creating wealth. These are the steps that Chad followed that enabled him to retire before 30.

Taking this leap into the unknown is difficult and uncomfortable. But it is only through discomfort that people grow. Even as a successful real estate investor and owner, Chad still invests in himself and is a member of 7 different mastermind groups. Knowing which investments will yield high returns in today’s tumultuous market can be challenging. To help those interested navigate this territory, Chad created his coaching firm to teach others to do the same as he did. Join today’s One Big Tip podcast and learn why Chad chose to invest in real estate to create generational wealth and hear more about his coaching and mastermind classes so you can create generational wealth. 

In this episode:

  • [1:35] Hear why Chad is grateful for his time at Xerox.
  • [4:00] In the fix and flip real estate business, emotional intelligence and tactical empathy are what allowed Chad to get ahead.  
  • [7:23] Transactional business won’t get you out of the rat race.  
  • [12:20] Coaching and mentorship is the best way to invest in yourself. 
  • [16:00] How to navigate through market cycles with coaching.

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