So I'm making 20k a month
- Thread starter wickid12
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Millygirl
Regular Member
- Mar 15, 2009
- 323
- 211
Hard work, dedication, reading and applying, failing and succeeding, and not sitting around on the internet asking "How do you make 20K a month?".:cool2:
I'm sorry, but you don't know what you're talking about, with all due respect.
Saving dollars is an investment. And not a stable investment at that IMHO. When any country is printing up trillions of dollars backed by nothing, inflation is pretty much a gurrantee. Possibly even hyperinflation. Go google zimbabwe hyperinflation and see what you find. Keep in mind the Zimbabwe dollar used to be worth MORE than the US dollar.
As Robert Kiyosaki puts it "Savers are losers".
Educate yourself people, saving money is one of the worst decisions you can make financially. Now I know all the sheep will come in here (almost gurranteed) and say WTF ARE YOU CRAZY WHAT ARE YOU SUPPOSED TO DO IF YOU DON'T SAVE IT? SPEND IT?!?! No, loser, don't spend it. Invest it in assets. Real assets, not assets that your banker calls assets (like your home) because he isn't telling you who's asset it is. Its HIS asset. A real asset puts money in YOUR pocket and a liability takes money from your pocket. Its as simple as that.
OP, go to Barnes and Noble and pick up a copy of Rich Dad Poor Dad. You'll learn stuff you never even knew existed.
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danizdeman
Regular Member
- Sep 29, 2009
- 237
- 187
Start up a brothel.
nanavlad
Elite Member
- Dec 2, 2009
- 2,807
- 1,082
Real Estate is the way to go. But dont buy completely. build a portfolio, pay about 30% down. Borrow the rest, over a 10 year loan keep your rents low , this means your properties are always rented, and pick areas like just off colege campuuses where there is a regular flow of tenants
There are only 3 rules in property investment
Location
Location
Location
Follow these rules and you cant go wrong.
Even if property prices dont rise for 10 years , rent prices will so after 4 years you should have your investment back .
The secret is never to overstretch your self, even if a couple of your properties are idle the others should be capable of covering the costs.
Stick to your own town or city for starters. This way you can keep a close eye on your investment
Keep away from holiday resorts and anywhere you rely on tourists, they are usually oversaturated and you are nearly guaranteed to lose your money.
Property is a long term investment and if you think of it like this then you will be very rich, The one's that lose are the people who are in it for a quick buck, and these are the ones who are under pressure to sell the most.
Finally congratulations on making 20k aa month and the best of luck for the future
There are only 3 rules in property investment
Location
Location
Location
Follow these rules and you cant go wrong.
Even if property prices dont rise for 10 years , rent prices will so after 4 years you should have your investment back .
The secret is never to overstretch your self, even if a couple of your properties are idle the others should be capable of covering the costs.
Stick to your own town or city for starters. This way you can keep a close eye on your investment
Keep away from holiday resorts and anywhere you rely on tourists, they are usually oversaturated and you are nearly guaranteed to lose your money.
Property is a long term investment and if you think of it like this then you will be very rich, The one's that lose are the people who are in it for a quick buck, and these are the ones who are under pressure to sell the most.
Finally congratulations on making 20k aa month and the best of luck for the future
Nanavlad-
1. By giving him investment advice he could fuck you in the ass if he really wanted to.
2. The same plan will not work for everyone. Real estate is LOCAL. The same strategy does not work everywhere.
3. The 3 rules in real estate are not location, location, location. That's what the real estate brokers (they're called "brokers" because they're broker than you are) tell you to give them an excuse to sell you an overpriced spec home. The 3 rules in real estate are actually:
1. Management
2. Management
3. Management
Which leads me to my next point:
4. The logic that keeping rents low in order to keep tenants renting is absolutely ludacris. If you manage the property well, you can set the rent at a level that you prefer, and the tenants are happy too because they're getting a great place to live in with all the ammentities courtesy of your champion management team. Why would you want to keep rents low when you can raise them, which in turn raises the value of the property, (since multifamily value is based on income, not location), which in turn allows you to borrow out the value you just created by managing the property well and in turn raising the rents which will pay for your cashout refi, which is tax free money by the way.
If you are actually following that strategy I feel bad for you, seriously.
1. By giving him investment advice he could fuck you in the ass if he really wanted to.
2. The same plan will not work for everyone. Real estate is LOCAL. The same strategy does not work everywhere.
3. The 3 rules in real estate are not location, location, location. That's what the real estate brokers (they're called "brokers" because they're broker than you are) tell you to give them an excuse to sell you an overpriced spec home. The 3 rules in real estate are actually:
1. Management
2. Management
3. Management
Which leads me to my next point:
4. The logic that keeping rents low in order to keep tenants renting is absolutely ludacris. If you manage the property well, you can set the rent at a level that you prefer, and the tenants are happy too because they're getting a great place to live in with all the ammentities courtesy of your champion management team. Why would you want to keep rents low when you can raise them, which in turn raises the value of the property, (since multifamily value is based on income, not location), which in turn allows you to borrow out the value you just created by managing the property well and in turn raising the rents which will pay for your cashout refi, which is tax free money by the way.
If you are actually following that strategy I feel bad for you, seriously.
Funny you say that, the Subway down the street from me just broke their Subway Franchise TOS agreement by serving breakfast in the morning because they aren't making enough money to survive.
Saying all franchises make money is like saying all jobs are high paid. It just not true and depends on the quality of the franchise system and the business savvy of the team managing the franchise.
a classifieds site and get it ranked amongst the greats... fill it with your very own cpa offers and sponsored ads like bp does. you can even go further and charge for multi city posting/job once its getting alot of traffic.........
FOREX ROBOTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
If they can make you $384,209,394.26 per year with a starting account size of only $100, imagine how much they'll make you if you start with a few thousand!!!!!
I'm kidding. Forex robots don't work. Neither does any other automated trading algorithm that you see for sale.
If they can make you $384,209,394.26 per year with a starting account size of only $100, imagine how much they'll make you if you start with a few thousand!!!!!
I'm kidding. Forex robots don't work. Neither does any other automated trading algorithm that you see for sale.
BozoClown
Junior Member
- Jan 4, 2009
- 150
- 110
Obviously you have to do some homework, which is easy with franchises because they provide you with lots of data. As far as businesses go, risk analysis for Frannys is the most straight forward.
There are people who run to franchises because of a single persuasion like that I made above, and there are those that know that as with every business opportunity due diligence is required. The later succeed more than the former.
this.
raz777
Regular Member
- Feb 24, 2008
- 292
- 123
the best advice i can give you is to invest them here
http://www.arktimes.com/blogs/rockcandy/Image/Strip-Club.jpg
this market will never die or get saturated and will get "hungry costumers" every night.
http://www.arktimes.com/blogs/rockcandy/Image/Strip-Club.jpg
this market will never die or get saturated and will get "hungry costumers" every night.
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darknuzzie
Power Member
- Oct 18, 2009
- 603
- 224
Since you asked. Asking for financial advice on BHW is probably not a good idea. What sort of advice can be given here? think about it. See a legit investment planner. Now. Before you let the cash slip from your fingers.
Also, you might want to examine your methodology and take a look at why you built a stream of income so "flimsy" in the first place. Seems sorta symptomatic of a deeper problem. Build something lasting with all that hard work and work smart.
That's my advice.
Best to you
Completely agree! Fiat currency of any kind is not what you want to be holding in the coming years.
IMO opinion we are on the brink of hyperinflation and most people on BHW are far too young to have any idea what happens when this occurs.
It'll be cheaper to wipe your ass with $100 bills that buy toilet paper. Be prepared!
wmitchell003
Regular Member
- Jul 30, 2007
- 463
- 58
Nanavlad-
1. By giving him investment advice he could fuck you in the ass if he really wanted to.
2. The same plan will not work for everyone. Real estate is LOCAL. The same strategy does not work everywhere.
3. The 3 rules in real estate are not location, location, location. That's what the real estate brokers (they're called "brokers" because they're broker than you are) tell you to give them an excuse to sell you an overpriced spec home. The 3 rules in real estate are actually:
1. Management
2. Management
3. Management
Which leads me to my next point:
4. The logic that keeping rents low in order to keep tenants renting is absolutely ludacris. If you manage the property well, you can set the rent at a level that you prefer, and the tenants are happy too because they're getting a great place to live in with all the ammentities courtesy of your champion management team. Why would you want to keep rents low when you can raise them, which in turn raises the value of the property, (since multifamily value is based on income, not location), which in turn allows you to borrow out the value you just created by managing the property well and in turn raising the rents which will pay for your cashout refi, which is tax free money by the way.
If you are actually following that strategy I feel bad for you, seriously.
you sound like youv'e done this, or atleast did your homework. You are absolutely right, most great business advice makes common sense. I stayed at an apartment complex for 3 years because of the many amenities they offered, and every year the rent increased. As a renter you dont have to worry about maintenance, there is usually a pool, trash removal, security, no long term commitment, utilities included, washer & dryer, etc.
You'd be surprised Wiz. Many NBA stars who made upwards of 10 million a year wind up broke 10 years after their career on the court ends. High income does not equal high financial IQ. One of the biggest mistakes people make is thinking they are financially smarter because their income is higher. Nothing could further from the truth. *Hears the angry herd rumbling towards him*
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