Where Should I Spend My $10,000?

Banned 11 years ago

I like all 3. Unfortunately, what I would do is probably different from you due to our IQ's. You seem to be smarter than me which has me thinking I should be asking you for advice.

Anywho, for what it is worth I would do number one just because of its' simplicity. Though, I got the itch to do all three just like you have the knowledge to execute them;

Good Luvk.

Thanks
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betterwtveter 11 years ago

Theory expert, I am really not all that smart to be honest, I am only doing well in all of this is because I have networked with the right people. Network with like minded people in marketing and you will do well. I have gained a ton of knowledge out of warrior forum thanks to the warroirs. Everyone of us has a taste of knowledge and success here, we just have to put the right pieces together to make it work.
- [ 1 ] Thanks
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8485marketing

11 years ago

Think long term, and invest your money into property but keep a floating capital that would allow you to repeat the process for the 3 things you mentioned you had done and found to be very successful for you. Keep out what you need to live on today and secure some property that's up for foreclosure and cash in on the rental income that comes with it.

Thanks
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betterwtveter

11 years ago

Originally Posted by 8485marketing

Think long term, and invest your money into property but keep a floating capital that would allow you to repeat the process for the 3 things you mentioned you had done and found to be very successful for you. Keep out what you need to live on today and secure some property that's up for foreclosure and cash in on the rental income that comes with it.

I have done rentals and it is a terribly a bad idea. Those people will eat the property alive. Like the old saying, "drive it like you stole it." Flipping has been the greatest success for me. A little hint, upper middle class housing has been the best sellers for me.

Thanks

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CPAInter

11 years ago

Originally Posted by betterwtveter

I am not sure if I should ever ask this, but I am stumped. So here is my dilemma. I have partnered with about 3 different men that are very successful in four different fields. I have tested these four fields and they all work very very well.

Here are the 3 areas I wish to invest in:
1.) Ebay- This past 2 months my friend Gary taught me to work with close out sales purchasing inventory pennies on the dollar such as computers. Two months ago I purchased $5k of inventory from a mom and pop store that was liquidating their products and I was able to make $20k selling it to another buyer in 2 months.

2.) Business Crediting - I partnered with a man name Iron Dane Richards that helps business sell business credit. 3 months ago I worked with only 3 clients but made about $8,000 building their business credit. I am thinking about working strickly with personal credit lines instead of business due to how bad everyone's credit is these days. I have made $6,000 this month on personal credit lines, but I had to work with about 12 clients. There is more work in personal credit but much more high demand than business credit.

3.) Buying and Selling Businesses - I use to own a construction business and did very well marketing it. I was able to get 300 Free visitors to my construction business daily in 6 months and wish to buy companies, instead of websites and create a website for the company, market it, build a strong credit line for the company, than sell it. I did this once and it was a ton of work. Invested $7,000 and had a $18,000 return in 4 months.

I hope I am not boring you with this, but I enjoy each of these ventures I have done, but would like input from anyone entrepreneur minded letting me know if you have any thoughts, or recommendations on why I should invest more of my time and money into one of these ventures. I want to focus most or all my energies on one of these.

Thanks

Number two sounds more sustainable and stable.

It sounds like your eBay deal could have gone either way (if the buyer had pulled out, you might have struggled to find another?).

Also, number 3 could be hit and miss - overvalue a business and you could get stung.

Number 2 sounds like it has the least risk but more hard work. $6,000 in a month isn't bad at all!

Good work & good luck.

Thanks
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betterwtveter

11 years ago

Originally Posted by CPAInter

Number two sounds more sustainable and stable.

It sounds like your eBay deal could have gone either way (if the buyer had pulled out, you might have struggled to find another?).

Also, number 3 could be hit and miss - overvalue a business and you could get stung.

Number 2 sounds like it has the least risk but more hard work. $6,000 in a month isn't bad at all!

Good work & good luck.

Thanks, I am more leaning to #2 as well. Not solid products or inventory to mess with, but strictly client base.

Thanks

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Carlsbadd

11 years ago

I would go for buying and selling businesses. You have some experience and you can quickly scale .

Another option for you would be to invest in selling business leads to contractors. Service magic is over a billion dollar a year company and that's not even selling exclusive leads.

I am sure you will do well since you are a go getter.

Thanks
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betterwtveter

11 years ago

Originally Posted by Carlsbadd

I would go for buying and selling businesses. You have some experience and you can quickly scale .

Another option for you would be to invest in selling business leads to contractors. Service magic is over a billion dollar a year company and that's not even selling exclusive leads.

I am sure you will do well since you are a go getter.

I thought about that, when I shut down my construction business, but selling leads to contractors does not interest me. Thanks anyway

Thanks

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travlinguy

11 years ago

They're all very hands-on. Why not look into buying passive income generators?

Thanks
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betterwtveter

11 years ago

Originally Posted by travlinguy

They're all very hands-on. Why not look into buying passive income generators?

I am in the process of creating another business to get a passive income, but what's funny is that I have worked in a variety of companies such as Empower Network, and it takes twice as much effort and advertising investment to get results compared to what I get from these investments I have done.

These three strategies have been the easiest way I have producced sales with such a high return and low advertsing cost. All these strategies were mostly Free advertising. Currently passive income seems like more work for now.

Hope you understand what I mean.

Thanks
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travlinguy

11 years ago

Originally Posted by betterwtveter

I am in the process of creating another business to get a passive income, but what's funny is that I have worked in a variety of companies such as Empower Network, and it takes twice as much effort and advertising investment to get results compared to what I get from these investments I have done.

These three strategies have been the easiest way I have producced sales with such a high return and low advertsing cost. All these strategies were mostly Free advertising. Currently passive income seems like more work for now.

Hope you understand what I mean.

Sure. It just depends on what you want to do. Some people like the action. I seem to remember a line from a movie, "the action is the juice..." or some such pithy saying.

Thanks
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betterwtveter

11 years ago

Originally Posted by travlinguy

Sure. It just depends on what you want to do. Some people like the action. I seem to remember a line from a movie, "the action is the juice..." or some such pithy saying.

Probably that is why I like doing things like this that requires action because I am a work aholic. That is why my wife says I will never retire, because I love what I do.

Thanks

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RogozRazvan

11 years ago

@ betterwtveter

One of the best things you can do is to keep doing what you do. I do not suggest that you invest it in any form of Internet Marketing since 1) This may prove a big waste of money 2) This may prove a waste of your time.

Therefore common sense dictates that you simply repeat what you've done again and again until it is not working anymore.

Thanks

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RatRaceWatch

11 years ago

I would invested in more passive income approaches like Travlin guy said.

You've obviously had some great success, but a diversified passive income portfolio is going to be more lucrative in the end especially as you age.

There's so many options, but if you have the ready cash, you could do some research on flippa and find some established sites that are already making a passive income.

Of course this requires a lot of research since there is a lot of garbage on that site but it can be used as a quickstart to having an online empire with income that's easily recoverable since most purchases (unless something happens) result in the buyer getting their investment back in 6-36 months.

Thanks

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Devin X

Banned 11 years ago

@OP, correct! You SHOULD NEVER ask this kind of question. If you have ideas for projects, then pitch them here and see what other members have to say about them if you'd like their input. But DON'T reveal that you have X amount of dollars that you wanna burn. It's not their money and this is not an investing forum.

PS. No offense, but these kinds of threads seem to be for attention seeking rather than genuine enlightenment or discussion.

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betterwtveter

11 years ago

Originally Posted by TheRealDudeman

@OP, correct! You SHOULD NEVER ask this kind of question. If you have ideas for projects, then pitch them here and see what other members have to say about them if you'd like their input. But DON'T reveal that you have X amount of dollars that you wanna burn. It's not their money and this is not an investing forum.

PS. No offense, but these kinds of threads seem to be for attention seeking rather than genuine enlightenment or discussion.

sorry my bad, thanks anyway

Thanks
1 reply

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theory expert Banned 11 years ago

Originally Posted by betterwtveter

sorry my bad, thanks anyway

You dont have anything to apologize for...I thought your question was very specific. Not some "hey I got 10k any ideas what to do?"

I respectfully disagree with other poster.

Again good luck and let us know what you decide. (or at least let me know )
- Thanks
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derricks4

11 years ago

I've got a friend who is a millionaire and does exactly what you've suggested in #2. However, it's a high-risk (as you know) and stressful life if you're not finding success.
I always like to encourage people to invest in themselves when they can. If that means starting your own, then great. But, at least, you can control the variable of trust.

Thanks

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Where Should I Spend My $10,000?

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