Updated almost 4 years ago on . Most recent reply
What is your go to strategy for creating wealth?
Just curious to see what people’s go to strategy for creating wealth is. For me when I need some fast cash I’ll flip cars. I can buy and sell roughly 4 per week as long as I can keep finding deals. I can profit around $2400 per week this way on average doing very little work.
Some people may find this slow but it’s pretty fast paced for me compared to bringing home a 40 hour check. Working onto getting more involved in house flipping for short term and renting for long term and stocks for the same reason. Any questions just ask and I look forward to seeing your awesome wealth cre
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@Ryan Luke Thomas Klamer I think a lot more people should think about buying a business.
I've seen deals where a business sold for $450,000 nets the owner $300,000 per year. Yes, you have to work and may have to acquire new licenses and skills, but how does that compare to owning rentals?
While every business has risks and hassles, buy & hold real estate investing comes with some really extreme examples of the three "T"s - toilets, termites and tenants. We see some wild tenant stories here on BP.
You can buy most businesses with 10% down with an SBA loan as long as the business financials are solid. SBA will even fund working capital so you start with cash in the bank. It's really not as hard as people think.