Forum Replies Created
- Quote:Originally posted by sky_jobe:
Thanks for all the feedback guys! muchly appreciated![thumbsupanim]
I particularly found interesting the last reply about joining a good network marketing company…
How would i go about that?[wacko]. What exactly is it? [blink]Network marketing is in a way kind of like franchising.
Think of it this way, the only group that has the rights to sell a McDonalds franchise is McDonalds Corporation. McDonalds Corporation can show interested people its business model, and if they like it they can whip out 1.5 million and buy a McDonalds franchise.
Then in future for every burger that that franchisee sell McDonalds corporation collects a small percenntage of that burgers sale price. So McDonalds Corporation has set up its own stream of passive income. This is what a public franchise is.
In a Network Marketing business you can show someone your business and if they like they can join your business. For the volume of products that the move through there organisation you get a passive income from it. Furthermore when you sell them the opportunity to join your business you also sell them the rights to sell the rights to join the business to other people. So its kinda like a private franchise. So in the end if you build it properly you can end up earning a nice passive income from your organisation.
As far as im concerned Network Marketing is the most streamlined business model in the world. For good companies you can gernally say that:
1. There is no risk involved. For decent companies you can join for like a couple hundred dollars.
2. No accounting.
3. No inventory.
4. No renting premises.
5. Little/no expenses….depending upon the company.
6. No paying employees.
7. A business established globally (for the good companies). Just think ho wlong it would take to even create teh infrastructure to have a global business.
As far as im concerned no conventional business model can compete with that.
Yes, there are many people that hate network marketing, and many people who dont succeed in it. However can any other business model compete with a good network marketing business model? i dont think so….if you find on let me know [suave2]
Originally posted by sky_jobe:well hey i got a overwhelming response![angry2]
Im a first year university student[cigar] and wondering if you could think of any wealth creating strategies for me[specs]… with little or no equity[hmm][thumbsupanim]…think back 2 your uni days.. what would u have done different to prepare yourself financially in the future????[weird] (knowing what you know know)
thanks!!!
Im a uni student as well so i knw hwo you feel. We cant get loans for anything because we dont have full time jobs…grrrrrrr.
And i dont understand why so many people on here are saying to invest in term deposits. Yeah…and earn a pathetics 4% if your lucky (minus 2.5% inflation). Its just not worth it!
I say you shoudl do three things, these are incidently three things ive done as well in my uni time:
1. Vending machines. A good bednign machine in a good site can return from 40%-100% on your investment. To top it off you can find vending machines for as cheap as $1000 bucks in places liek teh trading post. Keep in mind you will have to manage the vending machine from time to time….so its not 100% pure passive income.
2. Join a good network marketing company. As controversial a business model network marketing is, fact is you can develop good a good stream of passive income from network marketing. Because its low cost to get in, its teh perfect business for university students. Furthermore being involved with a good network marketing company is a massive personal development experience for most.
3. Absorb everything you can on personal finance and personal development. I personally love reading anthony robbins books, robert kiyosakis etc. You need to learn first.
I think Margaret Lomas’s positive property database used to have quite a few of those retirement propetys going for sale.
They usually tak most of their pension, in exchange for accomodation and meals.
The database is at:
http://www.posproperty.com.au i think
Yes tehy charge land tax, and it varies from state to state.
You shoud check with the relevant government authority as to teh land tax rates.
In NSW that is the Office of State Revenue, dont know about other states.
