Hi to all,
I was wonderring if we could list and detail creative ways to generate money besides the listing of renting, shares etc. – perhaps we can go into more detail.
Any clues out there?
Regards,
Geo.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
geo,
Are you thinking about passive ways? Or active ways? (ie a job) Are you confining the Q to property only?
In terms of property… one could:
* write an article/book review etc to get published in a property mag or online;
* do some spottingAs to other stuff… some people buy vending machines, which they consider passive income- it kind of is- if going and filling up a machine with nuts each day is passive.
There’s a heap of ways to make money- but most require labour. What kinds of things are you looking for?
kay henry
Hi Kay,
the wealthy and successful have income flowing to them via about 10- 20 different streams of which one is property. I was curious if anyone knew what some of these were.
Tere are some that need labour and others that don’t…
Thanks and regards,
Geo.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Well Shares can include many things. I know some investors do an AIP (Auto Investment Plan (ASX200)) and then research (and buy) small cap stocks. So there is two income streams. Usually though the rich might have large interests in 3-4 business and then buy more business (Kerry Pakers model).
Rgds.
Lucifer_aui think that having a job and an income from that is good, but i, personally, need something more.
At the moment i don’t have enough money for property, so i am looking a what Peter Spann advises for shares. have a look on his site or call up, he’s got some significant sales on his introductory property and shares pack and the next one.
Mine will come by the end of the week i hope…
Gilad,
You may wish to take a look at Steve Navra’s approach as well…
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.– Jan L.A. van de Snepscheut
thanks mate, sent them an email.
As another technique, i’ve thought about buying/supplying something unique and selling it on ebay or other such online auction?
i’ve researched it, but again, a fair bit of risk involved…
Hi Geo,
Apart from luck there are only two ways you can generate money in excess of your physical ability.
They are:
1. OPM – other people’s money
2. OPL – other people’s labour
Investing in property by leveraging allows you to take a percentge over and above the borrowed money, not unlike the banks.Employing staff at an hourly rate and charging out at a higher rate also gives you this percentage over and above the cost of labour.
With these two scenarios you are only limited by how much you can borrow or how many people you can employ.
With this in mind you can now look to be creative
Good luck
Jeff
Hi Geo,
A good question. One I am interested in also. I think streams of income are important for the cashflow but also the time flexibility. Hopefully these multiple streams allow time to be leveraged so have free time to investigate opportunities.
I learnt an interesting lesson about being too committed to work recently. I saw a definite +ve cashflow property advertised but wasn’t able to do much about it for a couple of days due to work commitments. In this time someone else had bought the property!
There are some ideas mentioned already, such as:
– vending machines… I knew someone who had a number of them in Melbourne and he said he averaged $14 each per week. Not a lot of money in a sense for the effort of keeping them stocked but get 10 of them… $140/week is a handy sideline. I can’t confirm these figures but have no reason to doubt wheat he said.– buy/sell on eBay / Trading Post / weekend markets… the basic idea of buying something, marking it up and reselling. I’ve even seen people buy from garage sales on Saturday then resell on Sunday at market stalls
– a low risk share trading strategy could be useful too. The trick (in my opinion) is to have a written plan, cash management strategy, remove the emotion/psychology/ego etc. and it can be quite successful. Maybe refer to some of the original sources such as books by W D Gann, Dow etc. They were brilliant men.
– I’ve wondered about laundries… could they be quiet little earners?
– set up a website… might be hard to get up and running with profit… seems like a long haul
– property… there are many strategies depending on skills, experience, time etc. etc. Ideas such as:
– +cashflow… normal buy/hold
– buy/renovate/sell… this can be your own home or other properties
– vendor terms… charge someone else higher percentage than you pay… difference is +ve cashflow
– buy land, get development approvals, sell to developer/builder at higher price because you have done the leg work for them
– property development– a general strategy is to find something that works and copy it but do it better (was McDonalds the first place to make burgers?)
– import something and sell
Take care & regards,
Doughttp://www.taxliens.com/
a brief guide…
as far as i know tax lien certificates only exists in america, and there seams relatively few risks.
basically when someone cant pay there property taxes, they are charged a deliquent tax on there property. now u pay off there debt, then They pay your principal (what you paid for the lien at the auction), fees (filing, notices, etc), and any penalties that may be issued according to state statute. If they do not redeem the deed within this time period, the lien holder has the right to file for deed. [biggrin] hope this helpsThe Majority talk about it.
The minority DO IT.There in lies the secret of success
whatever the method/s you employ.There are plenty of ways to make money..
… but one of my favourite strategies is drawing against equity in appreciating assets… and investing into other appreciating assets, while at the same time, spreading those assets across.. to create some weekly passive income or cashflow… but getting new appreciating assets and drawing against them…
but for many share traders/investors hedging is a great way of increasing your capital, though… if you could only do this with property, this would ge a great way to fast track your portfolio.
Cheers,
sisbut for many share traders/investors hedging is a great way of increasing your capital.
It is??
Please educate me,Ive been trading for many years and have never been introduced to trading using hedging to increase my capital.
Please explain your method of hedging.
tech
sis,
I’m also a little confused by your comment “but for many share traders/investors hedging is a great way of increasing your capital.”
If you hedge a position you give away some of the profit by paying a person a premium for their willingness to limit your losses. I can’t how this is necessarily a great way of increasing your capital.
Being on the other side of the transaction may be-i.e. writing the option. Bit like being an insurance company receiving premium income which is essentially earnt for each day that passes till expiry without a claim being made. Can all go horribly wrong too-as with GIO’s London office.
Ajax
Doug, you said:
“I’ve wondered about laundries… could they be quiet little earners?”
The couple who own my local laundromat work 7am-7pm 7 days a week. I think they would work about 80 hours each week. I would suggest most laundromats don’t just have machines with noone working there- but they do ironing, and a bunch of other stuff.
I get all my clothes etc laundered (I’m not much one for domesticity), and I think the people who work at the launromat deserve every penny they earn. They work their guts out.
kay henry
My uncle’s an MGB fanatic.. he buys crappy old MGB’s.. spends a few grand restoring them.. then sells them at a very tidy profit.
Mine = buy something for $$$.. sell it for $$$ + 10-30%.
I’m always on the lookout for bargains..
At the moment I’m also working on two websites (neither of which are up and running yet). They are:http://www.diyhome.com.au You guessed it.. a home reno site with a discussion forum similar to this.
http://www.shopandswap.com.au Free online classifieds..
Idea 407
1900 number/s If you own a good one $$$$
I am not necessarily condoning this, simply sharing it as an idea prompted by techa’s post:
Quite a number of uni students dance in bars to pay their fees and make huge $$$. I would be surprised to see an IP that could make this much in one night!!
Oh, but who is prepared to do it…? People would be scared by me if I were naked in da house. [biggrin]
Ali G (threads on)
My ex used to do topless dancing.. it pays pretty well. But she’s not investment minded so just saves up and buys things that she likes (new car, stuff for her RENTAL property). It frustrates me to see how much she makes and how it’s all going to waste.. well in my opinion anyways.
Been a while since this thread started.So looks like most ideas have come out.
Some touched on what I believe to be the only way to achieve whatever financial goals you have.
In summary.
(1)You need to be in the position to secure and use other peoples money.(2)This will give you the LEVERAGE you need.
(3)You need to COMPOUND profits this further increases your ability to find more of (1) and Gain more of (2)
(4)There are times for FULL gearing and times for RESTRAINED gearing.This is known as timing.Remember things dont increase in value for NO REASON when you find that reason and its on the money you can bet others will agree with you so go GEAR yourself up!!
There are only 3 ways I know how to and how best to implement the above.
(1)In your own Business.
(2)Property both domestic and commercial.
(3)Share Trading.Over time in ALL 3 you can develope a passive income well beyond your needs.
The number one thing I see people do wrong in creating wealth is LACK OF PATIENCE.“I wanta be rich and I wanta be rich now” Very Very few can do that,instantly.But take 20 yrs or so with a clearcut plan and youll build your mountain
slow to begin but it will fly as you put in more tim and other peoples money.To me nows the time to be looking at Commercial Property,Shares and our leverage.
Youd be suprised how profitable correct gearing at the correct time can be.
Take the opportunity now when you have the time to address these issues—-dont be one who procrastinated—AGAIN
and missed the opportunity.Its well worth learning how to trade (LONGER TERM) Took me 10 yrs but the returns are always there in Bullish times (Rising markets) or Bearish (Falling Markets).You can leverage it,Compound it, and be liquid in a few minutes.
Tech/a’s been at Reefcap.com for years.
Goodluck in your pursuits
JohnHumans are the DUMBEST of creatures.
They do the same thing day in day out and expect a DIFFERENT result.
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