Have you ever wondered what it might be like if you didn’t have a regular job? I don’t mean you wouldn’t go to work anymore — What I’m talking about here is working for yourself instead.

Working for yourself is different! To start with, the more effort you put out, the more you’ll benefit yourself. Think about that for a moment. Usually it doesn’t work that way. When you are an employee, more often than not, your extra efforts only benefit the company. That’s one very important difference when it comes to achieving your personal financial goals.

For example, when I fix up rental houses for monthly cash flow or to sell for a profit, all the money I earn from my efforts is mine to keep. When you work for someone else, it’s not the least bit uncommon to make thousands of dollars for the company — And yet profit very little extra for yourself.

I often explain this earning discrepancy to real estate agents who ask me if I think owning properties is more profitable than simply selling them. Let’s say I purchase a $100,000 income property for $80,000. When I buy the property through my agent, he will earn a 6% commission or $4800. Generally he only gets to keep $2400 for himself — But that’s it!

My earnings are a whole lot different. First, there’s my $20,000 of non-taxable upfront profit or discount for having the “know-how” to buy at less than’ market value. Next, I’ll probably “fix up” the property, raise the rents and enjoy monthly cash flow. Finally, I may choose to do a three-year lease/option agreement — Selling the property for $120,000 by offering very attractive terms.

It doesn’t take a mathematical genius to see that by working for myself, I have substantial financial advantages. I have the flexibility of earning money in several different ways. In the example above, my agent nets $2400 while I will profit $40,000 on the very same property. That’s almost 17 times more profits. Needless to say, it’s also one of the secrets to becoming financially independent in the shortest possible time.