Fastest way to make money immediately
AL · Member since 2010 · 522 posts · 31 votes
When times are hard and you need money IMMEDIATELY like right at that very moment and you have no where and no one else to turn to get that money, where do you get money to get you out of a bad situation? Wholesaling is said to be the way to get make fast cash. Is there truth to this? You don't have time to wait on a paycheck from a 9 to 5 two weeks from now. If not wholesaling, what other way is there to get money instantly when you have zero options available at that very moment? Huge debts are due now with no second chances to work out a payment agreement. Any options?
Well, Antonio, seems the 287 posts I've answered for you were in vein.
Stop stammering about an instant solution, there isn't one, if a creditor isn't chasing you with a ball bat just settle down and bear down.
You really like RE or is it that it seems RE is an easy solution to your financial problems? If you really want to work in RE....
Go to a large RE brokerage, walk in and tell them of your interest and that you really need immediate work. Offer to go pick up signs, set out signs, shovel snow off a walk for an open house, collect trash out of some yard just listed, what ever grunt work they might have for some money at the end of the day. Agents will usually have something, errands if nothing else. Some contractors are often around an office, clean up a construction site!
You know more about RE than most people off the street, so get around those in the business and let them know what you know in a tactful manner, you might display your knowledge by asking questions, you're good at that.
If there isn't anything, show up the next day and keep showing up until they break, they understand they can't get rid of you and they send you out on some work! Get there when they unlock the door and leave when it gets locked. Or, as much as you can with your other job.
You're burning up time on your computer and on this site when you need to be productive doing what you can do to provide for your family, I'd say that's more important than trying to pick our brains on how to make a million or two.
Talk to your creditors, do not avoid them, tell them the truth, if you don't have the money, tell them you intend to pay but don't make any promise you can't keep! They will be more reasonable if there is communication and you're being honest.
You're not making a dime sitting there posting, go to work!
Consider that a swift kick in the a$$. Settle down, it's not the end! :)
@Antonio Bodley I've read through most of these comments where others worked multiple jobs or suggested it and I just felt I needed to chime in with my own experience in the hopes it could help you.
There was a period in my life several years ago when I worked multiple jobs. I had a job with an inconsistent work schedule as well, like you say your job at Wal-Mart is, but one job I was able to do in addition was deliver newspapers using my vehicle. I basically worked from 2 or 3am until 5 or 6am, depending on how fast I could bundle the papers and get them delivered. I hated it, hated those hours, but it put a few extra hundred in my pocket each month.
For a time, I worked 2 jobs in addition to that paper route and lived in a tiny studio apartment for only a couple hundred a month (I'm sure you could find a similar price in Alabama now, my apartment was in So. Calif.). I worked a full-time day job and a part-time swing shift job. I hardly slept at all and only carried this schedule for about 6 months but I sure made some good money.
I've also waited tables. I had no experience, as you probably don't, but some of the mom and pop places will train you. And I remember those places were flexible as far as a schedule if you had a good reason, such as another job or attending school.
Additionally, I think you mentioned you got the job at Wal-Mart years ago. If you have some seniority, maybe your supervisor would be willing to work with you on a more consistent schedule.
Anyway, there are some more thoughts for you to ponder.
What a coincidence, I just ran across this today. This may be a blessing with the time that you could spare.
https://www.youtube.com/user/lmvelazquez100?feature=watch
Be sure to see his intro. He seems to find cash in everything.
@Antonio Bodley you might want to set up some keyword alerts, including Birmingham, AL so that you can see posts by other investors in your area like Jonathan Mednick.
@Account Closed Walmart is doing everything in their power to protect their own. I tried to get my schedule changed to set hours and set days of the week. They could have worked out a better work schedule if they wanted to, but they wouldn't do it. Their company policy is the final word. From my experience being there, I learned it's not so much the company rules that is problem it is the people in charge. Some will bend the rules in your favor and some won't. Even though I am willing to work a second job to make extra income, at some point I just want to be done with Walmart for good. The good news is I get to make extra income from a second job. The downside is it is a second job additional to working at Walmart, which I hate. I'd take that second job and hold on to it if it was something that could turn into a permanent job that would get me away from Walmart. I never wanted to work at Wal-Mart to begin with and nearly turned it down the day it was offered. I only took the Walmart job because one of my relatives put a lot of effort into getting me that job and the previous job offer I wanted did not come through when I needed it.
@Alia Abbasi I get email alerts from BP letting me know investors from my state have joined Bigger Pockets. I may have ran across Jason's post at one time.
@Account Closed How much were you making delieverin news papers?
When I was in high school (early 1990's), I delivered 150 newspapers everyday after school. On Sunday, I had about 160 of my own and delivered another 240 for a guy that had more papers than he could handle. I also delived pizzas 2-3 nights per week. I was making about $300 a week. Not bad for part time when you're in high school. Not sure what any of that pays now.
When I was in high school (early 1990's), I delivered 150 newspapers everyday after school. On Sunday, I had about 160 of my own and delivered another 240 for a guy that had more papers than he could handle. I also delived pizzas 2-3 nights per week. I was making about $300 a week. Not bad for part time when you're in high school. Not sure what any of that pays now.
And I made approximately $300 a month, but this was back in the very early '80s. I also worked my route 7 days a week and picked up extra routes whenever I got the chance (if another deliverer didn't show up or called in).
if u know photoshop or fireworks, you can
- find customers on craigslist or Odesk
- if u don't have software you can broker graphics on fiver
Meaning find client to pay u, then hire graphics designer, make the difference
@Brian Gibbons I still have my old Photoshop and Adobe Illustrator software. I just don't have the Windows XP hard drive that it works with. Great idea to broker graphics.
Go on Craigslist to find people wanting graphics, and act as customer on fivrr.
Antonio sorry about your situation and the struggles you are going through. Like everyone else said there's no way to get rich quick and we all know that. life gets rough at times trust me I know...with all due respect and don't take it the wrong way don't sit here and write how your life is and expecting people to feel bad for you...I understand your doing it as a way to get advice but instead of still talking about your problems read a motivational book or watch motivational videos. Like I said life gets really tough but your the only one that can get yourself out of this your going through. Keep In mind that the struggles in life only make you stronger and wiser, life gets better you won't be like this forever good times will come after the rainfall but it's up to you on how your going to pick yourself up it all starts with a positive attitude and a great mindset. Always believe that your future can get better! Sorry for the long post just trying to give you a few words of encouragement since I like to help people out at least by talking to them and giving them hope.
@Edgar Aguillon I am working on that Edgar. I don't mean to come off as a whiner if that is how everyone sees it. Sometimes I get in that mode where I vent my frustrations which tend to get the best of me.
Hey Antonio,
Heres my advise to you:
I assume you get 2 days off. You might not know the two days but i'm assuming you get two days off. If i were you heres what i would do:
1. Start your own business. I started a painting business in college and made tons of money. The Lawn business is a good idea too. Or since you are computer savy start a business selling things on Ebay. You buy items on ebay cheap and re-sell them. Or buy items at yard sales and re-sell them.
2. Get your resume together and look for another job that pays more or the same as Walmart with better hours.
3. Get with a recruiter. They will call you with side jobs and with full time employment opportunities.
4. I know a few people that work from home doing customer service for companies like Direct Tv or Cruise lines. Basically you answer the phone and help people with their issues. You can do this as a side job as well.
5. Use your 3K as a downpayment on a lease purchase. You put 5K down and pay $405principle and interest then you add on taxes and insurance. So your paying about $550 a month. Then rent the house out for $700-$750 a month. The renter pays your mortgage and in 10 years you own the house and you get all the money. You save the extra in case something breaks.
Overall though i think you aren't desperate. You aren't in such a Jamb that motivates you over fear of failure and laziness.
Google: Mr. Money Mustache. Its also a blog that basically is all about saving money and living on nothing while living a fulfilling life.
There is no way to make quick, fast money! You can invest thousands but your return won't happen overnight.
You will be supprised how much you can save doing little side jobs, selling things, etc. Cut your cost of living and work to make your life better. If you hate your job so much then search the city for a new job!
Managers that hire want to see applicants that are on fire for a job. They want to see someone motivated and willing to do anything it takes to succeed.
Noone can make you want this or do this. I took a job out of college that didn't pay much and worked my butt off for a year. Then i transferred to a new higher paying job. Now i want to be financially free. So i've invested in educating myself in real estate investing and i'm constantly looking for ways i can make money to go towards my goal.
Good luck in your future endeavors! Hopefully you will listen to what everyone is telling you. What everyone is saying is this: You CAN do anything you set out to do! CAN'T isn't an option. YOU make your own destiny! You have to work and make yourself better. No one cares more about you than YOU!
Man reading through all of this was painful.
there are 2 kinds of people in this world.
Those who do
&
Those who don't.
@Antonio Bodley very simply, become one that does or this will never end. No books, no motivational tapes, no magic advice from bigger pockets. Just go out & do it.
@Antonio Bodley Have you considered bird dogging? That would get you cash a lot faster than a wholesale deal. In case you don't know, bird dogging is where you go find properties for real estate investors, and they pay you so much per lead you send them. You would need to find local real estate investors("We buy houses" signs, craigslist, etc.), contact them, see what they are looking for and what they would be willing to pay you for each lead you bring them.
You CAN make money in a reasonable time with wholesaling, but you need to have a cash buyer's list which takes time to build, and you need to have access to properties that you can put under contract. Typically, once you have buyers and properties to choose from, you should be able to get paid on a wholesale deal within 30 days. That's start to finish: finding a property, getting it under contract, getting a buyer to put it under contract with you, closing and getting paid. The only way I could see a wholesale deal taking 6 months like Jon said, would be if you were wholesaling a short sale. Usually a wholesale deal closes in no more than 30 days.
Also, you might consider going to a temp agency where they pay you cash daily. We have one in my area. Usually they pay minimum wage, but cash daily is good if you can squeeze it in while working your day job, even if it's only temporary.
As much as I'd like to post the SNL video with Steve Martin "Don't Buy Stuff You Can't Afford" it would be mean and wouldn't help you. I haven't been in your shoes exactly, but I've been through times when money was tight because I got in over my head on a deal or two and I laid in bed at night trying to think what I could do until escrow closed. Unfortunately, there is no tooth fairy answer to your situation. So here are my suggestions to get you on the long road to recovery;
The 20/20 rule or as I like to call it, Driving the Gap: Every day, think how you can save $20 and earn $20. Nothing too exciting, but this daily practice will get you on the road to financial well being. If you figure out how to earn an extra $20 every day, you bring home an extra $600/month, $7,200/year. Add that to the $20 you save and we're talking about a lot of money. Now, I know it isn't feasible to save $20 every single day, but do your best. Even if you save just 3 days a week, you'll have an extra $60/week, $240/month. That's not peanuts when you're broke. Riding a bike when you were going to drive your car just to the store an back can save a lot of money on gas, wear & tear over a year. Increase your deductible. That will lower your insurance. If canceling your cable is a problem, sell your TV. Then you won't need cable. You should be reading business books to relax, not staring at people making millions of dollars/year at your expense. I don't know how anyone in financial trouble could consider watching other people be successful at their dreams while they are struggling as relaxing?? There's lots of other ways to save a few bucks every day, coupons come to mind. It all adds up over a year. Personally, I never look at something in terms of what it costs me per month. I always think what is the cost per year. It helps me make much better financial decisions; smart phone at $180/month doesn't sound so bad. $2,160/year just so you can post pictures of your lunch to Facebook starts to sound a lot more stupid. Save $20/ earn $20 and drive the gap. This helped me out A LOT when I was really struggling. I made me live like it is always lien times. I don't let money go to my head. Now, if I have a slow month, nothing changes in my life unlike the days when I was eating lunch out every day, leasing a car, and having the stupid thing detailed every Wed.
The $100/month passive income rule: Every month, work on earning an extra $100/month of passive income. When you're really broke, this isn't easy, but if you study, you'll start to see ways you can create income and that education you get when you're really broke will benefit you in so many ways later on. Do you have something you can rent that would bring in an extra $100/month? You could advertise it on Craigslist. Do you have any specialized knowledge? Maybe you could write a course on how to do something and sell it online? I think I read you work at Walmart. Maybe you could use your employee discount in some way? (Do those cheap b*$tard$ even offer an employee discount?) When you get further into real estate, generating an extra $100/month becomes quite easy; a small loan, a rent raise, acquiring a new rental, etc. The rule is that you have to generate $100/month of passive income every month. If you miss a month, you owe it next month. If you go over this month, you don't get a credit towards next month. It is another great exercise in financial awareness.
Odd jobs are a good way to earn quick cash. You could sell some service on fiverr.com. Check out the site and look at some of the wacky stuff people do for extra money. I recently saw an ad for an app that lets you use your car as a taxi. People say they are earning on average $25/hour. Probably have to be in a good sized metro area and I don't recall where you live so don't know if that is an option. You could deliver pizzas in the evening though if you are in a less populated area. Bar tending was always profitable for me when I was young.
Real estate related, the best chance you have is going through neighborhoods looking for a beat up house. Knock on the door and ask if they might be interested in selling. If it is a tenant, try to find out where the owner lives. The tenant probably won't tell you though. You can do some research on here for 'yellow letters,' 'door knocking,' and 'absentee owners' though. A little research can go a long way.
What got me through tough times - When I was really struggling, I had a quote written down on my desk, "This too shall pass." I would read it so many times every day. Just remember to not read it when times are good! LOL
Lastly, if things are really going south like they were for me when I was headed out of high school and didn't have choice one of what to do with my life, I joined the Navy to escape. The pay sucked for the first few years, but I got away from my old life and loser friends. It gave me time to figure things out and find direction.
Good luck to you and you will get through it.
**THIS.** Hell, I'm gonna keep this advice for myself, lol! Even though I'm pretty frugal already, these are some great tips, Aaron!
If you have little cash,
A. Market to
1. Expireds and listeds
2. FSBOs
3. Landlords
4. We buy houses
1 - 4 are cheap marketing.
Look for little - no equity,
offer sub2, wrap or lease option assignment.
B. Exit on Lease w option or lease plus ROFR.
More here on my BP blog
First of all, Antonio if you have 347 posts and haven't taken action in rei yet. You never will, you need to take action and some of these so called gurus are awesome! Even though I haven't paid for anything yet, b/c you don't really need to. Also, those gurus are actual real estate investors or agents making big money. I know because I've done my homework and the three that I listen and read regularly are the real McCoy. I'm a beginning WHOLESALER BTW. The problem is, human nature is to divert from a mapped out plan with specific directions. These so called gurus, like Sean Terry, Phil Pucgeskovoskkyyy lol and Todd To.back map out everything and many people steer away from it because they think they know better. When you divert you fail. Anyways, they are the real deal. I love their free courses, blogs & free ebooks. I'm actually going to join one of these guru courses very soon.
The only part I do not agree with is jumping in without a parachute. I will study until I'm comfortable and then fill my basket carefully. My marketing is underway and my buyer's list is growing so that part is working.
Also, I know that if I wanted to, I could get a deal under contract and flip it pretty quickly. When I say pretty quickly, I'm talking 2 months.I think it really depends on the person. My cousin who just started 5 weeks ago, got a foreclosure under contract from a postcard reply, already, so it's very possible.
Why would you come in NO whining about no money??? Anyways, happy investing everyone! :-)
First of all, Antonio if you have 347 posts and haven't taken action in rei yet. You never will, you need to take action and some of these so called gurus are awesome! Even though I haven't paid for anything yet, b/c you don't really need to. Also, those gurus are actual real estate investors or agents making big money.
I know because I've done my homework and the three that I listen and read regularly are the real McCoy. I'm a beginning WHOLESALER BTW. The problem is, human nature is to divert from a mapped out plan with specific directions. These so called gurus, like Sean Terry, Phil Pucgeskovoskkyyy lol and Todd To.back map out everything and many people steer away from it because they think they know better. When you divert, you fail.
Anyways, they are the real deal. I love their free courses, blogs & free ebooks. I'm actually going to join one of these guru courses very soon.
The only part I do not agree with is jumping in without a parachute. I will study until I'm comfortable and then fill my basket carefully. My marketing is underway and my buyer's list is growing so that part is working.
Also, I know that if I wanted to, I could get a deal under contract and flip it pretty quickly. When I say pretty quickly, I'm talking 2 months.I think it really depends on the person. My cousin who just started 5 weeks ago, got a foreclosure under contract from a postcard reply, already, so it's very possible.
Why would you come on here whining about having no money???
Anyways, happy investing everyone! :-)
So true.its time to wake up
Antonio,
If you're still sitting there reading this, then you haven't already taken the good advice from Mr. Bill. So I'm not sure what your looking for. It seems you are working a W2. I'm not going to plow through the pages of responses. So if anyone suggested EBAY forgive the redundancy. Drive yard sell. Find & Flip items for fairly quick cash. While doing so you can talk to people that may be trying to stave off a 4clo. Not to mention leveraging the time by doing drive for dollars.
You appear young. Double Down in your efforts. GO SEIZE THE DAY, EVERY DAY.
One option is to totally disregard all your debtors except the utils. Stay in your home until you get forcibly evicted. Use your current incomes for dailies (gas, food, meds, etc.). Of course, that leaves you vulnerable at anytime to become homeless. Try getting another landlord or property manager NOW to rent to you or own the house. Unless someone owns the house? There options there. Cash for keys, equity loans, etc.
Without money, you will have no deals and attract no investor to either give you money or take your deals, if you happen to get one, which is highly unlikely.
Bird dog if you want to get into real estate and have the time. It doesn't sound like you have the time nor the little bit of cash you need to even do that.
Bankruptcy would probably be your only real option once things get real bad. Believe, they haven't even begun from what you have posted. You still reside in a home, have jobs and some kind of disability check coming in.
Maybe find another place that you can actually afford while you are renting/owning. Either work out something with the current landlord/lender or have him sue you. He/they won't get much. And it will cost him/them more to evict and sue you. Don't ask for any references though. It will be better if you leave so he/they can turn around and start getting some cashflow again or resell. If you are going this route as a renter, try to fix what you can before you leave and let him know you are doing that. He might be more open to helping you get out, if you put some effort into helping him, and accept some form of payments.
Don't even think about getting yourself in more trouble financially by doing anything in real estate. It's not how it's portrayed by gurus and experts. That's how they make their money, by enticing unsuspecting dreamers to a lifestyle of the rich and famous with no money down and no risk. Hogwash!
Take this time to better your situation. Then take whatever time you have left to learn on your own and find other investors willing to lend you their experience. Maybe find some REIs in your area that need help and do some free work for them (internship) to learn the business. It's easier for you once you see someone who knows what they're doing to repeat it when you have the opportunity in the future.
If you've been on this site for a year and asking these types of questions, what have you been doing? Not learning or networking and growing your network of real investors. You don't have to join the game, but you can be a spectator and still gain so much from that.