Looking for Sexy Investments?
Reselling stuff on Amazon
turning 1000 dollars into 100,000
The key is without hard work, nothing grows but weeds.
or something I hear often I rather have a 800 credit score instead of 100,000 cash. well then you are a fool.
- real estate
Even if you have a 800 credit score by adding authorized users or quick clean ups, if your overall payment history is crap, its a no no. Plus if your income is $20,000 dollars you are not getting access to $100,000 credit cards, sorry not happening.
Most of my clients getting 100k plus in loans and credit cards, are high income earners or consistent payment history folks. Plus the average credit card is 8,000 to 15,000 in America. If you add 10 of those bad boys with business lines of credit then you are off to the races. That is why folks are relying on Authorized users to piggyback on great credit history to get a bump in scores. Sometimes the bump last 30 days to 90 days.
Now back to the list up top. Stocks have been a way for a passive investor to invest for the long term. Unless you work on the staff of a startup before they go public, you will not get the best stock prices. Can you get good returns via monthly dividend stocks for future retirement sure. Here’s the problem you have little control over your stocks.
Businesses or micro businesses you have more control. let’s say your husband can fix things, but he enjoys his full time job. over the course of the year he could fix things and you could resell them on local online market platforms. Nextdoor or other sites where you sell to people close to you or in a 10 mile range like let go.
Secondly I know many folks with high level skill, that should keep network does open to OPPORTUNITIES. If your company lets you go could you freelance, I have heard of all kinds of software engineers, traveling nurses, highly skilled consultants to companies like IBM, DELL, etc.
Real estate is a pillar of most foundations.
There are many folks who are OLD MONEY, but church mice poor. What do I mean? They own land or inherit land, but DOING NOTHING with it. WHY? they are too broke to invest in the land, build something on the land basically all they can do it afford to pay the taxes.
Most will say I do not have the downpayment and closing costs to get a rental. MOST folks could get a 3.5% FHA loan on their home, there are some no money down programs. Let’s say you live in the home 2 to 4 years now have equity built up. If you could pull out 10,000 to 30,000 out of the home you could use it to invest in a 50,000 to 130,000 dollar SFH or MFH property depending on location.
That is one way folks with lower incomes, or no windfalls in cash coming in, or no major investment income on the side can invest in real estate and win.
There are a million ways to make money in real estate. from loan officer, title companies, bird dogs, wholesalers, turnkey company, private lender, note investor, rehab, property management, hard money lender, countless other positions and titles. the Key is STOP looking for the FLIP, the sexy real estate life. Many people I think quit real estate as real estate agents and house flippers because they watch TV shows who showed them a glamorous career. Sorry most times real estate in just about any spot is a lot of phone calls, rejection and figuring out how to close impossible deals with inflexible people.
The typical real estate investor is under 55 years old and likely to live in the South or West.
54% of real estate investors are 35 to 55 years old. Its never too late to get your retirement income right.