How To Make Money in the 21st Century
There are always ways of getting ahead. Having a job is not one of them. The way for working class people to get out of their financial struggles is to start a business and make investments. The same way that the rich always have. Jobs, no matter how well paying, simply maintain a status quo, and create a false sense of security.
Investing in real estate has always been a vehicle for the average "Joe" to create a nest egg, however, with the domination of the Internet in every aspect of our lives, making money with an online business has become one of the simplest ways of supplementing one's income, or allowing one to quit their day job.
With time and practice, it can be easy to make money online, and a lot less stressful than any other job you have held.
Real Estate Formula Of How To Be Financially Independent
It has been said that The key of Accumulating Wealth is Real Estate Property Investments .Indeed, one of the great ways for the average person with little or no education to become a millionaire is by purchasing real estate. Every citizen should fight the politicians attempts to overtax, and tag the real estate investor. One of the differences between America and other countries is the way real estate is handled. Every American citizen has the full opportunity of becoming a millionaire through real estate.
- Phase I- Purchase a property in a good location at the right time
- Phase II- Wait 2 years for appreciation
- Phase III-Refinance (or sell and do a 1031 tax deferred exchange)
- Phase IV-Purchase 1 more property
- Phase V-Do this every one to tow years for 10 years and you will easily own one Million dollars in Property
What Type of Property to Look for When Starting outWhen making an investment in real estate, do not look for your dream home right away.
The general rule that works very well is to find the worst house in a block or worst condominium in a project, that needs the most fixing in a particular area. If it is in a nice area, then you generally have a much greater chance of appreciation. Select a good area and then find an extremely fine value (maybe needs some fixing, or it's just an awfully good deal, like a foreclosure) then you are probably going to get automatic appreciation in the future.
If for example you are in a condominium complex and you find a particular unit that is in very bad shape, you may be able to purchase it for a very low price.
If you are interested in flipping property, the strategy is the same. Find the worst house in the best neighborhood. Perhaps the house has been broken into or the lawn has grown up, or it hasn't been painted. Basically, it looks bad, but its only cosmetic. Then if you can buy it right and fix it up for a decent price, you are going to get really good appreciation. Also, if you can bring it up to the standards of the neighborhood, you will do very well.
Characteristics of a Good Investment
- The worst house in a trendy area
- 2-3 bedrooms with a den; 2 baths or enough space to easily add them.
- Wood burning fireplace
- Large kitchen with appliances.
- Attics which can be converted into a gym.
- Place for washer and dryer
- Free from traffic noise
- Convenient to jobs.
- Good rental area
OrchardsThere are some advantages to buying property with orchards on them because orchards can be depreciated and you will have some income off the fruit. So, this is one way to own land and cover your expenses. Another thing you could do is to take the land and turn it into a short-term business like an orchard, tree farm, mobile home park, golf course, dog kennel, ect. These businesses could be sold off when the property eventually appreciates.
Online BusinessThere are numerous online business opportunities to look into. Here is a list of some ways that thousands of people have literally made millions doing. Its a matter of finding what works for you.
- Self-Publishing Business
- Online Writing
- Develop and sell a product online
- Start a blog marketed to niche audiences
- eBay business
- Amazon Affiliate
- Writing eBooks
- Youtube Marketing
Click Here for- How to Make Money Online from Home