$140,000 Debt - Any Advice Would Be Great

Is it possible to scale up whatever technique you are using to make that $1000/month on more sites?

Also, can you tell us about your skills? Selling service ca be quite profitable if you play your cards right.

If you have no real operating budget I would think a more aggressive SEO campaign expanding your $1000/mo earners may be the best way to spend your time, if you create quality original content you will be much less vulnerable to the ups and downs that that crap made for adsense sites are going through.

There are apparently still people killing it in CPA marketing, many teens, using advertising based traffic you don't have the slow growth limitations of SEO but you do have to be able to float 1 or 2 months of income in advertising costs, until you are at a scale where you can do media buys on account credit. Chad advises in the Traffic Black Book course that you have 6-12 months of income saved up before venturing into full time CPA marketing.

The whole internet is unreliable, in the sense that it's the well we all trust will be providing sustenance each day that's made from vulnerable technology.

Mate I just deleted my post because I read your thread wrong... sorry.

You're already doing really well, better than most and I think you should always stick to (and improve) what's making you money already. Then test other income streams on the side for results.

You can create products really fast if you're focused and (after providing a service) IMHO and experience they're the best option.

Goodluck,

Al

Best of luck Robbie. I'm sure your parents appreciate what you do.

I want to help you with your goal. PM me and I will give you all of my ebooks for making money online as well as my twitter WSO.

Good luck! I am rooting for you.

Create a bunch of niche sites, wait until they are ranked (will be fast, maybe month if you're not doing great) and once they have revenue, flip them for cash. Rinse and repeat... There is no way you will get 140k fast so don't be too hard on yourself, get another 1000 or 2000 bucks of income and that should let you guys live well enough and pay off debt slowly..Don't focus on making 140k, useless stress will keep you from thinking straight and taking right action. Focus on additional income to make the ends meet.

Best of luck!

Good luck to you Robbie!

And Chris,...good for you that you're extending a helping hand!

This forum is full of helpful people, but it's really great when they are especially helpful!

Can you contact media outlets like current affair reporters, HARO, youtube doco makers, whatever, release some press on yourself, the guy forced to use the internet to get his parents out $140k debt ?

Robbie, I'll pm him for you. I'll send him your address in case he doesn't come back to this thread.

Robbiestone, I've sent you:

The Why People Course
Black Sheep
Twitter Feeder 2
How I Sold My Site for $50,000
Article Marketing Mastery

Enjoy, that's about 16 hours worth of reading and over $102 in value.

Keep learning and don't give up. I look forward to your WSO: "How I paid off $140,000 in debt through internet marketing."

Hi Robbie! The single fastest way I know of making serious money online is by selling online services to offline businesses. You don't have to wait for seo to work. You don't have to have the cash for facebook ads. You do, however, have to have a few services you can offer. Pm me, and I'll send you some stuff that could help.

Lee

Scale up that $1000/mo site. That's an awesome achievement. You know how to make money online. Replicate it 140 times and you're done!

Hi guys!

So great to see so many of you steppin' up to the plate to help Rob. You inspire me!

Remember, he cannot PM you, so you'll need to PM him with all of your goodies!

Create just one more site like that ($1000 per month) and then flip the main one.. It can be easily flipped in flippa.com for around $20K (20 months profit)..

Once the second one hits $1000/month do what you did for first one... easy in writing here but you already did the ground work....

You may also try to flip the site here in warrior forum..

Whatever happens put maximum effort and you will hit that target....all the best

Thank you.

Robbie,

I hope you succeed! I am in substantial debt myself and I hope internet marketing can help liberate me as well.

Robbie, you say you are an IT guy. I am thinking about the valuable contacts you might have. You can find someone to joint venture with you from the offline forum who can offer services that might complilment what you are doing, or you could begin offering some services yourself, unless all the contacts belong to your boss.

Even if the contacts were not accessible to you directly, can you put someone in touch with say your boss, who would offer more services to the clients/customers and you take a percentage? You get a cut, your boss gets a cut, the other person gets a cut.

This last idea may take little time for you to set up, but could bring in a good additional income stream.

Don't forget to set aside tax money on what you make on the internet. Many people seem to forget this and it can rear it's ugly head and then a person has another big bill to address.

P.S. your parents are blessed to have you as a son that will help. However, you might approach them to have them reconsider the bankruptcy as well.

Build 9 more sites like that and then sell them all at 12 - 18X earnings, to an actual business/vendor in your niche. Not just on Flippa.

That'll account for a big chunk of it.

Another consideration - make sure your parents are exploring all their options with brokers, consolidation services, etc.

Most brokers are morons who push their parent company's favorite product that month.

The right person makes all the difference, and there's a lot of ways to structure debt properly.

Also keep in mind the tax implications of making enough to actually keep $140K, whilst covering living expenses, etc.

Keeping it is the challenge.

-Chris

I second the idea of filing bankruptcy if it works the same way in the UK as it does in the US.

They can just stop paying into the debt management plan for a couple of months and have the money to file.

That option exists for a reason and I think being 140K in debt at 65 is a good reason for them to avail themselves of that option.

Continue with your IM business so you can help them out now and then while setting some money aside for yourself so that you don't end up 140K in debt at their age.

Hi Rob

Really sorry to hear about your situation.

I am an accoutant (although I no longer practice), and have helped people with debt issues in the past. I know this has nothing to do with IM'ing - so I apologies to everyone for going off topic.

Notice you are in the uk, therefore why dont you go to Citizens Advice Bureau for some advice. Moneysavingexpert (Martin Lewis)is also a great place to get advice from people in a similar situation to your parents, and they may be the most up to date, best sources of help. National Debtline is another - all offer free advice.

Some mortgage/debt companies will write off what you owe depending on your situation - seems incredulous but they will. If you approach them with 'either I pay of a small proportion of the debt, or I declare myself bankrupt and you likely get nothing', it's amazing how many will accept a small amount of what you owe to clear the debt. I helped a lady who owed £27k to a mortgage company and they accepted £4k in the end, and I am sure you could even go further than that.

I know you are interested in making money to pay the debt off - and respect to you for trying to do that, but there are other ways, that might be slightly easier and take the pressure off you a bit.

Hope this helps.

BTW Chris The traffic Blogger is a complete angel!

I think creating a good product and marketing the poop out of it will yield you quicker results than clickbank or SEO. And with your own product you will get 100% profit, in addition you could also get affiliates for your product...as per the copywriter on your sales page, you don't need one. You don't need a fancy one, it doesn't have to be perfect, I made my first sales page just using a web builder (wysiwyg)...just get it going. Get results!

Wow now I know why warrior forum is the place to be. There just too many good hearted people giving free advice as well free stuff. Hand up to you guys who help.

Robbie,

I also just noticed you are not a War Room member. There are a ton of great resources in the War Room no matter which direction it is you decide to go.

I am willing to pay for your War Room membership just to help you out a little. I respect what it is you are doing and this forum has been very good to me so it's the least I can do.

You have my email address now. Just shoot me an email and we'll sort it out. Hopefully you have Paypal?!

WillR - I cant see a post from "realfun" on this thread?

Honest answer?

I think they need to talk to a bankruptcy attorney. I did for a lot less debt than that.

On a separate note I would say scale up your $1,000 a month. Than while it is providing good income branch out into other ideas.

I hope this guy is legit but I have a feeling you guys have been had, check out the OP's other posts on diff threads.
As to weather Realfun and OP are one and the same, don't know but i'm sure the plot will unravel sooner or later...

For transparency reasons it turns out Robbie does indeed have another account, for whatever reason, and is already a member of the War Room. That's all I know.

If I am to give him the benefit of the doubt then I do think his plight is still genuine and I wish him the best of luck.

I would focus on the site that makes $1,000 a month and see if I could create other sites around that niche, the aim is to scale it up to such a level that each site makes that $1,000 on its own, it will take some time, and a lot of testing, but this is how the beast is handled

Fixing your debt is really easy.

Have them call up the debtor and tell them, sorry we are going to file bankruptcy and can not pay any of the debt unless it was lowered to a reasonable number.

The debtor will panic most times and give you a smaller number.

For example, one of my friends was $30,000+ in debt and called and did the exact thing I just said above.

He reduced it to $20,000+ and a few weeks later called back and repeated the same thing, they reduced it to $14,000+. He again called back weeks later, and got it reduced to $7,000 and said ok to pay it.

If you follow the right path and say the right things, you can get the debt down to $20,000 - $50,000+ and go from there.

Everything is Negotiable.

Remember That. GOD Bless.

What is YOUR current source of income? What is theirs?

Lakshay

Rob the only advice I can give you, instead thinking about the $140k your parent own. Think how much you have repay the loan instead. Minus off the amount you own. Life will be great when you see the number dropping.

From there on, focus how much more to minus the new amount you own. Repeat this process.

My day job is a salesman, so when I given monthly sales target. Instead pondering at the sales target. I break them down how much I need to hit per day.

Then I minus off the daily target.

As a Chinese saying "a journey of a thousand miles begins with a single step"

Also I like to thank you very much for somehow showing me the right path to take.

How about creating a blog to map out your progress? As you start to pay off the debt you might start attracting some good traffic.

Best of luck with your debt

Hi,

Can you replicate your success?

Can you make 5 more sites that make $1000 each with in a few months?

Then make it. Then sell each for $10000

Rinse and repeat

Now you have 2 product topics

First product: How to make websites that makes at least $1000/month
Second product: How to flip websites for top dollars

second product= first product + your flipping tips

your real story will be the "sales copy"

Just my thoughts

If you are making $1000 per month you are doing something right so it is well worth ramping up the site that delivers the goods. Another way is to build a membership site with a monthly charge and deliver one unit per month. You need to have at least 3 month's units ready before you launch.

I’ve been involved with internet marketing for around 2 years now. I remember those sleepless nights when I became fascinated with the internet marketing especially online business. I began researching and reading almost all ebooks, membership sites, guru’s teachings in order to build my career on the internet. But it was not easy.

Every night after work and after my wife and children went to sleep, I would get online and explore different ways of using the Internet to make money. It was not a smooth journey; I spent around $ 8000 racking up credit card debt buying almost all guru recommended eBooks, membership sites, seminars.

But I was not making any money during those days, instead we were drowning with debts. But I was not ready to give up..I know that internet marketers are made…not born. Finally I cracked the code and started to make some money. While I am writing this I am making a decent amount of money through affiliate marketing which is my passion and food.

Don't worry, be positive and focused then the whole universe will work in favor of you. Best of luck

Listen man, no offense but you are looking at the entire situation with blinders on.

First, when you are working on your internet marketing, don't think about your parents situation. I know it's tough... but focusing on that negative will take your focus away.

Here's a solid plan that could work wonders for you.

Find a top notch product owner who does very well with WSO launches here. It's not difficult to see who the best of the best are.

Then, get together with that person and partner up 50/50 on profits for a product. Allow them to first interview you on how you created the site that brings in $1000 per month.

Pay attention now, leave no step left to guess work!

Then, record each step in video and accompany each step with a mind map or PDF cheat sheet.

Next, offer an OTO where you could consult once a week for four weeks, one on one through Skype for $197 + to help people fix their mistakes and help them get it right the first time.

Next, allow your partner to facilitate the launch, he will have the experience. Your part during the launch would be to handle comments, questions and support.

You have a needed skill, it's a realistic skill for others to implement and it would make for a fantastic WSO. The other person will have the credibility to do the launch with you. When it is over, you both have a brand new list of buyers that you could offer services to... giving your new partner a share of the profits.

You could, with FOCUS and action, get this product recorded, published and launched within a week.

With a GOOD partner, you will also be attracting affiliates. Now, I would suggest allowing your partner to handle the payments... because his paypal or clickbank account is probably used to the activity.

The most time you should spend on this project is finding the right partner and delivering more value than your customers expect!

Also, to attract affiliates (which will happen) offer 50% commission on the front end and 70% on the OTO... dude... that will have affiliates squirming to promote!

You will deliver value to THIS forum, the partner, the customers and become recognized in one shot (that makes every future venture easier and more profitable.)

Here's the best part: Because your focus was on creating value for new customers sharing your success with them, on your JV Partner, the affiliates and the warrior forum... your parents reap the benefits simply as a result of you focusing on everyone else... and YOU, on all fronts become the center of value for many

That, my friend is how many of us have taken the Internet Income Hobby to the Internationally recognized success many of us have work to achieve.

NOTE: for all the haters that will definitely want to criticize this reply or may not know me search : Bob Yeager in Google and you will find that I know what I'm talking about and there is NO ONE out there who has ever had anything but good to say about my strategies.

For you, robbiestone... consider this advice an early Christmas gift from me to you

Warmly
Bob Yeager
Creator of The World Entrepreneur Success Training Program (W.E.S.T. Program)

Sure, you have got a lot of replies. My fear and concern is, you shouldn't be tempted to work spend your operating cost.

My advice is, try to negotiate the debt and see how you can be allowed to pay conveniently. I have seen it happened several times and your situation can not be different.

Next, if you can make $1, 000 then you can make $2, 000 and $4, 000 and $8, 000 and so on. Listen, this is not just a figure, simply multiply what you are doing now and look at hiring cheap services to help you out.

That is a very good deed that you are trying to pull off. I don't think you are doing that bad making 1,000 per-month. I am no where near that at the moment, i'm pretty sure that a lot of other aren't as well. Just keep hanging in there try to upscale on your sites. Dont rush to create your own program take the time out to learn about all the factors to look out far when launching a new program, try to get a mentor from here to help guide you through the process, even if you have to pay that person. Its very important that you know what you are getting into thus knowing what to do to maximize on profits.

I have some ideas to help. Question, do you have a lot of USA contacts?

Hey I am very sorry to hear about your circumstances. I think that it is great that you can actually generate $1000 a month off one of your websites. I suggest that you try and find free traffic such as classified ads and social media to help make you some more money. It is all out there for the taking you just need to put in some more time. Good luck for you

I only went through the first page. Please forgive me if you take offense to this but this is a real truth you need to face and understand is a possibility.

How do you know if your parents are responsible enough to stay debt free after you pay this off, if you are able to at least?

The reason I say this, is because our country, assuming you're in the USA, is used to debt. It is now the american way. Have they really learned good habits enough to stay debt free once it is gone?

What I recommend, is for you to put that money towards buying them into a class for Dave Ramsey's Financial Peace University. The rest of the money, save up. Maybe pay off one outstanding debt for them on Christmas or something... maybe another one for easter.

Get them into Dave Ramsey, and it will help more than what you are doing.

Robbie,
Have your parents spoken to the CBA? I know the CBA have a lot of powers and know what you need to live on and can give your parents an action plan to help with the situation. I used to help out at my then local cba a few years back. They usually have all the right people available including a lawyer.
Good luck

Rich

Robbie,

I have a few questions and maybe a bit of advice. Although I do not work with debt management I am a financial advisor here in the UK.

Firstly: Do you and your parents have jobs? If not, that needs to be your first priority.

$1000/ 1.6 conversion = £625 that is not a lot of money. If you do work, then you could look at doing a second job p/time in the evenings. You will double this money immediately.

If you have built the site you are making $1000 from yourself; why not duplicate that and sell similar sites on here for $xx.xx along with a brief explanation of how you have achieved that figure per month.

You already seem to have quite a following in this thread, and tied in the the "story" that goes along with why you are doing it, you have an excellent hook to get sales.

But first and foremost- make sure you and your parents have a job!! Guaranteed income.

[[I would also have just gone bankrupt- the costs would have come out of the estate- to say you can't afford to go bankrupt is a slight oxymoron... the fact they didn't really suggests to me they have unencumbered assets greater than the £140k debt....! House etc..I would also look at this as an option to reduce the debt]]

Wow, this post has reminded me how many good people there are on the warrior forum.

Rob, you have been given TONS of free information that can help you. Find something that resonates with you and stick with it. Don't be a dabbler, be a master.

Stay strong.

$140,000 in REAL debt? I mean debt as in a NEGATIVE net worth!?!?!?!? HOW did they get so far? OK, if they get the $140000 for a LOW interest rate over about 10 years, figure $14,000+ per year. Let's say $16,000. So they could pay it off with maybe about $1400/month. IDEALLY, they should somehow make upwards of another $3300/month. So you need to get them to maybe $4700/month. If you can do THAT, and get the consolidated loan for about 10% or less, you can pay off the loan, and give them a decent retirement.

BTW clickbank affiliates aren't really YOURS, unless you have a front end system to bypass theirs. That's true of almost ALL 3rd party hosted affiliate systems.

Steve

Hi yes warriorforum is a great resource to learn strategies and start implementing them one of the strategies to get traction is social media sites such as twitter, facebook , youtube on these sites you can create valuable facebook fanpages, tweet info that helps people and make free video marketing to get going.

Create more sites that make $1,000 a month. You did it once, automate, and multiply.