Building Wealth and Cash Flow with Online Businesses with Gregory Elfrink

Gregory Elfrink joined Empire Flippers in April 2016 originally as the Content Manager. Now, as the Director of Marketing, he manages everything from the content to the marketing automation, to vision and goal setting, all the way down to the implementation. His big goal is to take Empire Flippers more mainstream as an M&A brand and to help investors see the power of digital assets while helping sellers have life-changing exits. Gregory was born in Anchorage, Alaska where he worked in the oil fields and now travels the globe networking, speaking and for pleasure. He loves fiction, science and in his free time, he moonlights as a novelist.

[00:01 - 06:22] Opening Segment

• Get to know Greg Elfrink
• Greg shares about himself and their business, Empire Flippers
• Living in Vietnam and working remotely

[06:23 - 14:28] Building Wealth and Cash Flow with Online Businesses

• Why you should buy online businesses
• Growing a business = adding value
• Great risk comes great reward.  Take the risk.
• Budgeting: Split into 3 Terms
• Business is great and here’s how you can make it better

[14:29 - 23:54] Only the Cream of the Crop

• Brick-and-mortar business versus online business
• Only putting QUALITY in the market
• Greg talks about the different styles of online businesses
• Top online businesses Greg has worked with

[23:55 - 33:48] Closing Segment

• Quick break for our sponsors
  • Groundfloor offers short-term, high-yield real estate debt investments to the general public. Check www.passivewealthstrategy.com/groundfloor/ to get started.
• What is the best investment you've ever made other than your education?
  • The first house he bought
• Greg’s worst investment
  • College

• What is the most important lesson that you've learned in business and investing?
  • “Just being stoic.”
• Connect with my guest. See the links below.

Tweetable Quotes:

“Buying a business is not like buying a stock.” - Greg Elfrink

“The beautiful part about businesses is that they’re basically systems of leverage.” - Greg Elfrink

“Real estate is just a great income floor once you get it going.” - Greg Elfrink

“Only invest money you’re okay with losing.” - Greg Elfrink

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Connect with Greg Elfrink through [email protected] and LinkedIn.  Visit their website https://empireflippers.com/. 

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.