Powerful Ways Real Estate Can Make You a Millionaire
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Sometimes a team can accomplish far more than a group of lone individuals. For example, cyclists in the Tour de France take turns riding at the front of their group, decreasing the wind for those behind them. Wolves hunt in packs to take down animals 20 times their size. And for those of us who were children of the '90s, we all remember Ducks Fly Together.
This brings up another team that can accomplish amazing things -- not a team of people, but a team of benefits which, when combined, can help you achieve your greatest financial goals. Specifically, I want to talk about real estate.
I’m a real estate investor, and I firmly believe that real estate is the best traditional investment on Planet Earth today. However, just because you buy a piece of real estate doesn't mean you're going to make money.
As I explain in The Book on Rental Property Investing, big wealth is built through real estate investing by capitalizing on something I call "the four wealth generators of real estate." Alone, each of these benefits can help you make more money, but together they'll make you rich.
1. Cash flow
Cash flow is the extra profit left over after all of the expenses have been paid on a property. For example, if my rental property produced $2,000 in income and my expenses came to $1,700, my cash flow would be $300 that month.
Now, I know a lot of you are saying, "Three hundred dollars is not going to make me a millionaire."
Probably not. But remember, we are just talking about one of the wealth generators. There are still three more to go!
Additionally, that $300 might be from just one property. If I owned ten similar units with the same cash flow, that's $3,000 per month. If I owned 100 units, that's $30,000 per month. This cash flow can go a long way toward helping you quit your job -- or helping you save for a future big purchase, or retire wealthier.
When I talk about appreciation, I am not referring to how much I like you (though I do appreciate you!). I'm referring to the natural rise in value that real estate experiences. For example, if you purchased a property for $200,000 ten years ago, and today that property is worth $300,000, the appreciation made you $100,000 richer!
Of course, appreciation doesn't cause values to increase every year (consider 2007!). However, historically, real estate prices have appreciated over the long term. So, again, appreciation alone is not likely going to make you a millionaire, which is why I don't recommend that people purchase bad deals hoping that appreciation bails of them out.
However, appreciation is combined with the other "members" of the wealth generation team, powerful stuff can happen.
Thanks to entrepreneur for this great article you can read the complete article by clicking on the link below.
“You’re never too old to set another goal or dream a new dream.” ~C. S. Lewis
Change means reinvention. Each time a major shift happens in our lives—leaving a job or a relationship, moving, losing a loved one—we have to take control of who we will become or risk never reaching our full potential.
I’ve reinvented myself several times in my life. Most adults have.
But what I always forget is that we have to choose reinvention. Each time I’ve done it, I’ve forged my new path deliberately and with foresight.
When I’ve waited for my future to find me, I’ve waited in vain, lost in confusion and sadness, or I’ve gotten tangled up in a situation I didn’t want.
One morning, after struggling for months with grief and loss, I woke up and realized that I was having so much trouble moving forward partly because I had no idea what it was that I wanted to move toward. I was thinking about my past, but not what I wanted for my future.
That morning, I woke with a vision: a crowd of people from the life I needed to leave behind with the sun rising opposite them and me standing between the two, the sun beating down on my face.
In the vision, I decided, finally, to turn from the group and walk toward the sun, my new life.
That vision told me what I needed to hear—that I had to take control of my future instead of letting my pain choose for me.
These are steps I’ve identified to reinvent yourself:
1.Create a vision for your future.
Sit quietly, close your eyes, and imagine the people, places, or situations that you need to leave behind. Now, imagine the future that you want, whether it’s simply a feeling, a group of people, or a situation such as a wonderful new job.
Imagine how it will feel to be in that new place. Picture the sun coming up behind your future, the warm glow of the light on your face.
Stand for a moment and silently voice your appreciation for everything that came before. Once you’ve thanked the past, turn toward the sun, and with compassion and gratitude, imagine yourself walking away from the past and into the future.
Thanks to Tinybuddha for this great article please click on the link below to read the complete article.
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Looking for a job is like dating. If you’re not careful, you could end up with a dud.
Just think, eight hours a day (or more!) of sheer misery could be yours should you choose poorly. But you won’t because you’re smarter than that.
No, when you interview, you’ll be on the lookout for red flags. You’ll scope out the office for telltale signs of a toxic boss and burnt out employees, and you won’t end up in a job that sucks.
If an interviewer ever says something completely ass-backward like “We’re looking for a rock star ninja beast for a unique opportunity,” please, do yourself a favor, cut your losses and bail.
If a cheapskate potential future boss asks you to pay for your own background check, abandon ship and fast. Something is rotten in Denmark.
If employees look like extras from The Walking Dead, assuming cold, dead stares when the big, mean boss barges in the room, save yourself. Run while you can. That could be you.
Just in case you job hunt with blinders on, or are beyond tone deaf when listening to your gut, check out the infographic below. It’s chock full of glaring red flags that, no, sir, you should not take that job. This little gem -- complete with an image of a worker in a suit on the office floor, writhing in the fetal position -- comes to us by way of the cheeky and apparently giddily employed folks at Approved Index, a U.K.-based B2B products and services provider.
You might not know this, but one of the very first profitable businesses I ran was an importing company. From the age of 13 til the age of 18, I imported a whole bunch of random stuff and sold it on various websites. It was really difficult when I was getting started, partially due to my lack of experience, and partially due to the fact that there was nobody there to help me.
My friend Devan Earle is thinking about getting into the import arbitrage business and emailed me with some questions last night…
A couple hundred dollars worth of imports…
Our conversation made me remember how impossible it seemed for me when I first got started, and how many questions there were that needed answering…
Where do you find suppliers? How do you know what’s going to sell? When you know that, how do you know what to determine to sell? How do you eliminate the risk of scams and bad shipments? Where do you even begin to research?
Our conversation got so in depth that I decided to turn it into a blog post.
So this is basically going to be an A-Z guide on what I would do, step by step, if I was going to start over again at importing products from Asia and selling them online. I’ll also include some insights on what made me choose these steps. If you plan on trying this out, I would suggest bookmarking this blog post and referencing it in the future. I am planning on it being a complete guide and will be continually adding to it based on questions I get from readers.
Thanks to Startupbros for this great article please click on the link below to read the complete article.
Lessons I Learned Delivering Newspapers to Rich People
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Being a paperboy taught me a lot of the habits of rich people. They always tipped me more than anyone else. Their monetary generosity then led me to give them better service than everyone else. I've found that it's very similar in life and business.
From this experience with rich people, I learned several valuable lessons to take me from a poor paperboy to being a multi-millionaire. Here are the lessons I've learned that you can apply in your life to become the type of person you can become.
Money greases the wheels.
The first lesson I learned is that money does talk and can be a motivating factor in certain situations. The primary reason I took a job is that my family did not have a lot of money. We struggled to get by. At 12 years old, the money I made was some of the only money coming in to buy food for my family to survive. Money is something essential that you can't do without.
A paper route was a good way to put money in my pocket, since my my parents couldn’t provide an allowance. It was the first real experience I had with the idea that hard work delivered money to get me what I wanted.
Across my various newspaper routes, I met people from all types of backgrounds who would give me tips. It was exciting to get that first tip, but it was something entirely more exciting when a customer handed me the equivalent of what I would have made on my route all week in one tip. That’s when I also realized there were some people who had a lot of money. For hours, I studied them and what they did.
I instantly felt the need to take care of that customer more than others. Of course, I wanted to do a good job, but let’s face it: If I kept doing a great job for the "amazing tippers," there would be more opportunities to get larger tips like the one he handed me. That’s not to say I didn’t take care of my other customers because they still deserved good service. I just didn’t want to lose the ones that always treated me so well. I use this same method when at a hotel. I always leave a $10 bill on the bed for housekeeping. I find that I have the cleanest room as well as extras left. I even have gotten free room service due to leaving amazing tips. It's the same at a restaurant, when you leave a good tip at the beginning, service goes up a lot.
As I grew older and started my own business, this experience returned to my mind when I had to hire people. While money is one way to motivate others to really help you, overall I learned that the better you treat people, the more passionate and enthusiastic they will be about helping you. I refer many times to these as my "business habits."
Paying them for the value they added to the business was one way to show this and get their passionate help in return. However, I learned there are also intrinsic things people valued. It could be as simple as a compliment or a “thank you for the great work.” Or, it might involve asking for their ideas and offering them a larger role in the company. For me, it’s also involved opening up my network to my employees and sharing their talent with others.
Thanks to Entrepreneur for this great article you can read the complete article by clicking on the link below.
[Note: This is a guest post from our good friend Edmund Lowman. He has built the #1 rated chain of hostels in Thailand along with a bunch of other successful businesses that he’ll tell you about below. He’s also a rock star. Legitimately. He was in Red Jumpsuit Apparatus before becoming an entrepreneur. He knows what’s what–check it!]
These days having your own business is all the rage.
Everyone thinks it’s like the cool thing to do and it’s going to make them super-mega-crazy-boy-band-rich…
The truth is that it just may, but if that’s your only logic for jumping into the sea of sharks, unfortunately you are in for a very big surprise.
However, if you are staring at the sea of sharks and thinking to yourself, “Man I really want to punch that shark in the mouth,” or “This is going to be exciting as hell and hopefully I won’t get eaten,” well then my friend you might just have a fighting chance.
Based on my personal experience and experience coaching others, I’ve found that there are typically 7 deadly sins that are sure to sink your startup.
1. Not Validating Your Idea
If I had a dollar for every time that someone has come to me and said:
“Oh man, I have this great idea, I am developing this software that (insert useless task that no one cares about in the first place) it’s going to revolutionize the way people (poop in the streets, or something else useless) and then I would never ever have to work again and I would be able to spend way more time expanding my farmville empire.”
Now believe it or not there are people that have pretty good idea that could potentially be amazing, but they suffer from the inability to act.
Their reasons are typically because they want to make it perfect, the website isn’t ready, their business cards are being printed, they’re just waiting for my LLC papers, the economy is bad… Whatever.
All of these are just excuses and the reality is what is holding them up is FEAR.
Fear is crippling, trust me I know.
Even after I had had a business for several years, when thinking of ideas for a new one I found myself paralyzed by inaction and fear. Eventually I decided to take an online course on “How to start a business” and keep in mind I already owned a multi-million dollar company, but I figured it couldn’t hurt.
The course was Noah Kagan’s Monthly 1k it was AMAZING!
It changed my outlook on business completely and led me to starting Slumber Party Hostel, which is now a million dollar company and growing by the day.
Slumber Party Hostel: A business or do I just get to party? Sometimes I can’t tell.
Here’s the thing, what is the absolute worst that could happen?
Thanks for reading this great article thanks to the Startupbros please click on the below link to read the complete article.
How to Get Thousands of Visitors to Your Campaign with Reddit Marketing I found this great article enjoy :) If you run an online business you’ve probably learned that it’s a HUGE battle to get traffic, especially if your website is new.
You’ve got no search engine rankings, no connections and no idea how to get thousands of people to your site.
You have to fight to for every single visitor that you get.
I feel your pain. I’ve been there. But I learned how to overcome that problem by using reddit to drive high quality traffic to my sites for the last 9 months. It’s been a total game changer!
In fact, one simple reddit post got 625 sign ups to my brand new product in just 9 days. Yes you read that right! Not 625 visitors, 625 sign ups.
Not too shabby!
I’ll be honest with you. Right now, you will not be able to replicate these results. Why?
The truth is…
Redditors Hate You
If you were to start promoting your site on reddit right now, you’d be likely to join the thousands of “Reddit Marketers” that get laughed off of the site. You see, the trick to reddit marketing is, well, to not market.
Redditors aren’t big fans of self promotion. In fact, there is a special fiery hatred within every redditors’ heart toward shameless self-promoters.
They can smell marketers from a mile away, and they’re not afraid to let you know that they hate you. If they don’t like your post, they will downvote it, bad mouth you, humiliate you and try to get you banned.
So what can you do? Most marketers that I know have either actually got banned, or have just given up.
I don’t blame them either…
It’s true that reddit marketing is a tough cookie to crack, but I’m here to tell you, youcan crack it. I’m going to show you how I use it to regularly promote my sites.
Thanks to Startupbros for this great article you can read the complete article by clicking on the link below:
I found this great article enjoy and work life and balance :)
We can’t help learning lessons as we go through life. Some of the lessons we learn are rewarding and exhilarating — like learning how to accept praise graciously and how to give advice when people look up to you enough to ask for your advice.
Some of the most vital lessons we have to learn are ones we can’t learn voluntarily. We can only learn them against our will, because we’d never consciously put ourselves in the position to learn them.
They are painful lessons to learn, but once we’ve got them under our belt, we are stronger! They sting at the time, though.
Sometimes we think the pain is going to kill us, but we survive. Then we have new battle scars and a new story to tell!
Here are five lessons you can only learn against your will.
How to survive crushing embarrassment
Our most embarrassing moments stick with us for decades. I still remember standing up in the auditorium in front of the whole school in fifth grade, reading from three-by-five cards. I got the cards out of order somehow and got confused, ended my speech hastily in mid-sentence and sat down.
I remember my red cheeks and the hot shame I felt about making a fool of myself in front of the school.
I’m pretty sure my classmates have forgotten all about my flubbed fifth-grade speech but it sure made an impression on me. I learned two things: 1) preparation is key and 2) I can survive being embarrassed.
Most people spend their time thinking about themselves and their own problems. They don’t care about you. Look at how quickly celebrities bounce back from their scandals! You did something embarrassing? That’s fine. Get up, dust yourself off and keep motoring!
You’ll survive your most embarrassing words and actions, and they’ll bother you less and less as the years go by. By the time you’re my age you really won’t care.
What is improv, after all? It’s taking down barriers to say and do what you feel in the moment.
What is business, after all? It’s improv. It will serve you to get better at it!
How to be the lone voice in the room
I remember feeling a mix of horror and fury with my workmates when they’d tell me, one after the other “Your idea is exactly what this company needs. You go in that staff meeting and preach it, girl! I’ll be right there backing you up.”
I went in and preached and the whole room sat silently and looked at me. My biggest supporters in private stared at the ceiling and checked their phones in public. At the time I was angry and disappointed with them for wimping out on me and leaving me to speak my truth alone.
Over time I stopped caring whether people who said they agreed with me came to my defense in public. Why did I need them to defend me, if I had something important to say? I empowered people by speaking up and gradually they found their own voices, too.
They hadn’t been trying to stab me in the back by staying on the sidelines. They were just afraid to put their opinions out there.
You can survive being the lone voice in the room, and it’s a very good experience for everyone to have — once, twice or a thousand times.
Do you want your views to be accepted by the people who need to accept them just because everybody else votes the same way you do — or do you want your pitch to succeed because it’s worthy on its own merits?
Thanks to Forbes for this great article please click on the link below: