Multiple Streams of Income is a course created by Robert G Allen. Robert G Allen is an entrepreneur that was famous for his no money down courses and has had a lot of success with his real estate strategies many years ago. Multiple Streams of Income is his take on how to structure your businesses so that you have long term success and dependable income.
Multiple Streams of Income has received a lot of attention because many people had success in one area until something happened in their industry. For example, people who’ve had success with real estate suddenly found their incomes dwindling and have lost money in many cases. The purpose of Robert Allen’s course is to teach people about the principle of having multiple streams of income.
By having multiple income streams, you’ll still be bringing in money even if your stock portfolio takes a hit or the real estate market gets hurt by the economy. You’ll have more than one income source and if one falters, you can depend on the others. You won’t be financially devastated because you didn’t put your eggs in one basket.
The book talks about four money mountains. These mountains are real estate, the stock market, Internet marketing, and regular marketing. The course has some detailed information about each subject and gives you different examples of what works in each. You learn what Robert has done to set up system in each category and how he’s having success in each one.
On the topic of marketing and Internet marketing, Robert G Allen strongly recommends that you set up an information marketing business. This is basically a business where you’re selling information products such as eBooks, home study courses, audio tapes, similar to what Mr. Allen is doing with his business. This is a proven business model but you have to remember that it is a high learning curve that you’ll have to really invest a lot of time and effort learning how this business works.
Robert Allen states that his stock portfolio has had returns of 20% per year. He does this by investing in safe stocks as well as more risky investments. This is very difficult to do because of the current financial situation and it does require that you set aside some money to start.
The last mountain is real estate. This is no surprise as Robert Allen’s first success was in this industry. In the book, he talks about no money down deals and why creative financing is important to getting these deals off the ground. He is accurate about this but you do have to remember that the real estate market has changed over the years and it’s not as easy as it used to be.
The most important part of the course is the main idea of multiple streams of income. Most people put all their eggs in one basket and lose it all when something changes or they make a bad investment. The author strongly advises that you set up multiple systems and find out how to automate it if you really want a dependable income. The course has received mixed reviews with the positive being about the core idea and the negatives being about the difficulty of implementation of his strategies. Overall, it is an okay course and has many interesting ideas that you can get a lot from.