What do you do to earn more money?

Business Money
21

I would put it into the category “inspirational” rather than hands-on advise though.

But you need to bring up the money to buy the real estate, and there are quite a few risks and sometimes a lot of work involved: tenants that move in and out quickly, tenants that don’t pay on time, tenants that leave a to-be-renovated place behind when they move out, difficulties to rent out when times are bad, costly repair works due to wear and tear / age of the building etc.
And of course there is no guarantee that the property maintains or gains value, in a worst case it may even depreciate.
Of course you can be lucky and have perfect tenants but you never know, however you will still face other trouble as mentioned and the financial burden that comes with it.

22

Oh please! What a crock of shit. He has no idea. Met hime and explored his ideaology. A total wanker. Makes alot of bucks but, hell, if you want to hear his philosophy, go to the Herbalife conference sceduled in a couple weeks.

23

[quote=“Rascal”]
But you need to bring up the money to buy the real estate, and there are quite a few risks and sometimes a lot of work involved: tenants that move in and out quickly, tenants that don’t pay on time, tenants that leave a to-be-renovated place behind when they move out, difficulties to rent out when times are bad, costly repair works due to wear and tear / age of the building etc.
And of course there is no guarantee that the property maintains or gains value, in a worst case it may even depreciate.
Of course you can be lucky and have perfect tenants but you never know, however you will still face other trouble as mentioned and the financial burden that comes with it.[/quote]

Yes you need some money to buy real estate, and yes you can get burned.
Think of property as a long term investment and it is unlikely to depreciate
Everyone gets bad tenants sometimes but you can manage this by carefully vetting who you rent to
It usually takes 5 -6 properties (not all in one development) to create enough scale to mitigate the risks of vacancy and poor tenants

I know people who have made a lot (shit loads) of money with property but they took a lot of risks to get there. I know very few people who have lost their shirts - although for a few years it may have looked as though they would. I know a lot of people who are very comfortable because they invested in property over a long time period and have no worries about retirement.

24

2nd on this. Do a little reading on the guy, as opposed to actually reading from him, and you’ll quickly find that he is a grade A hypocrite.

And having seen him speak at an entreprenuers conference, where he was worshiped, he is essentially promoting recycled, canned material from other people and taking credit/money for it.

25

I trade stocks for extra income, though most of the the money I make stays in my portfolio. My background is in statistics (specifically actuarial modeling), so I just sort of use this as a way to keep myself from completely loosing my mathematical knowledge. The strategy I use is modified from the turtle trading system, and has been tweeked to reflect my desire to have less risk (and less profit as a result) and to stay in stocks (as opposed to commodities and futures). So far it’s working well, and I’ve realized about a 28% profit this year. Now if only I could figure out a way to keep the US govt from taking a nice percentage of that at tax time. :frowning:

26

[quote=“Edgar Allen”]Yes you need some money to buy real estate, and yes you can get burned.
Think of property as a long term investment and it is unlikely to depreciate[/quote]
Why is it unlikely? (just curious, not saying it isn’t so)

No you can’t - ask my parents; they are very very careful in selecting their tenants and what turned out the perfect tenant for a year or two turned into one from hell.

Ok, but then you need even more money upfront. And you will have even more repairs and renovations to handle.

When I go back home for my next holiday I will calculate the actual return we get from renting out, at the moment I only have a rough idea and it’s not even 5%. If that’s true than there is IMHO no point to bother, way too much work and trouble for a yield that I could have gotten a few years ago for a long-term fixed deposit.

From renting out or from buying and then selling with profit?

Sure, it’s possible though not guaranteed. It’s just that you need to know what you will get yourself into, and then make a decision if you are willing to put up with those issues when it becomes necessary.
After I have seen what my parents had/have to deal with over the years I will stay clear of renting out.

27

That sounds like a good way to make money. What’s the problem?

28

Sell BJ Services.

Its listed on the NYSE, symbol is BJS. A sure money maker.

Whenever you are short on cash, just remember there is always BJ Services.

bjservices.com/

29

[quote=“Paniolo”]Sell BJ Services.

Its listed on the NYSE, symbol is BJS. A sure money maker.

Whenever you are short on cash, just remember there is always BJ Services.

bjservices.com/[/quote]
You should open a booth.

30

That sounds like a good way to make money. What’s the problem?[/quote]

The problem is that he is disingenuous. Its the same as saying, “Hey I invented a application, come on over and try it out for these reasons” when, no, you didn’t invent it and you are promoting your product at the expense of someone else’s effort. He clearly does this in his literature and his public speaking gigs: promote ideas for profit without giving credit where the credit is due. That is my problem with the guy. (It would all go away if he would say, “I heard on a podcast by Leo Laport that…” or “Rob Scoble has a point when he says…” or anything along those lines.)

31

I want to help some friends in Mongolia make more money and one of the things some Taiwanese friends suggested to them was bubble tea. What we want to do is find out how to make bubble tea, where to get the cups, the mix, the zhen zhu, and the machine that seals the cups. What we have in mind is to raise the money with donations from friends (ourselves included), buy the equipment and supplies they need, then send it to them in Mongolia along with a recipe :smiley:

Ideas and sources appreciated!

32

I imagine most of the equipment could be sourced in Mongolia itself. You don’t have to use sealed cups… you just buy cups with good lids, and straws. The hard thing would be getting the zhen zhu ingredients - I think. Also adapting the product to local markets in Mongolia would be a must.

It could be done, esp. if there were a big enough population.

33

The main income sources include

working for your boss
have a business your own
investment

For the first choice.It’s only few chance to get rich through the first choice.

You must be very very smart and work hard…Then you can get a lot of salary from your

job because your boss pay you huge money but need to earn more from their customers.

For the second choice. It’s much easier to earn more money then first choice. But it also very high risks and maybe you need to work hard more and more.But you earn what you got. You are the boss.You don’t need to be very smart man .You just need to have your special skills ,service,products and know how to be a good business man.

The third choice is the best way for me for earning additional income besides my job.

My advice is buying the mutual fund.

For the bond fund …there are many kinds of bond fund.

The type of bond fund diffenece depend on the bond rating.

type ,bond rating area earning average
1.High bond rating fund(AAA) USA bond 3~5%

2.middle bond rating fund (A) Global goverment bond 6~9%

3.low bond rating fund (BBB-) Emerging market or trash bond 7~10%

It’s only about averge earning from bond fund .

Why I suggest buy the mutual fund?

1.Shares are easy to going up or going down through short term news and much more risks.
2.investments needs very professional and spend a lot of time to research then you can earn the money. Don’t invest any shares before you totally understand that.
3.You can invest more kind of investments more easily through fund.
if you want to buy bond…you must spend a lot of money for one bond and sometimes hard to sell it to other people. And if the company gone. You can’t get your money back.
But bond fund invest a lot of companies or goverment bond. Even one of them gone.
You won’t get big hurt.

Investment is the best way to additional your income besides your job.

Of course it got risks .Nothing is no risks. But the biggest risk is you don’t understand that.

If you do…that will be a great tool for helping you get more money.

Some friends write me mails to ask about when thre is any financial senimar in English in Taiwan.

I think if you are interested in join the free senimar in English in Taiwan . You can write a mail to me.If there is any like that I will go and invite you to come.

Richie

www.fundyeaman.com

34

Mutual funds are an excuse for fund managers to cream off percentages and management fees and to get investment from government pension funds. Spreading the risk…yeah that worked over the last 2 years…not!

Researching stocks, understanding companies?? I have worked in companies where the sales and bus.dev. managers have lost money purchasing stocks in their own co. that sunk like a stone a month later…I know for a fact they wouldn’t have bought if they thought there was the remotest chance it would do that.

It’s better to invest in an area that you will think will grow long term rather choosing an individual mutual fund or stock because of it’s supposed strengths or track record. The fact is nobody knows for sure. It’s also best to invest substantial amounts in the middle of economic downturn. Most of it is trend investing and gambling…try and guess the top and bottom of the trend as best you can.

The single best way is to invest in your own business so at least you know where the money is really going and you can pay yourself a big wodge of money, hopefully from other shareholders money…this is the way the world works usually.

35

[quote=“headhonchoII”] Most of it is trend investing and gambling…try and guess the top and bottom of the trend as best you can.[quote]

Thats a really really BAD idea. Look at the stats. If you traded in and out at the peaks and troughs over the last 50 years or so you would have so much less money than oif you just kept investing steadily over the same time period. Dollar cost averaging (my friend) is the only way to go.

36

Bubble tea? In Mongolia? The biggest problem would be persuading the customers that they don’t need mare milk added to it to make it taste nice. Have your Taiwanese friends ever actually been to Mongolia?

37

[quote=“RichieChen”]For the bond fund …there are many kinds of bond fund.

The type of bond fund diffenece depend on the bond rating.

type ,bond rating area earning average
1.High bond rating fund(AAA) USA bond 3~5%

2.middle bond rating fund (A) Global goverment bond 6~9%

3.low bond rating fund (BBB-) Emerging market or trash bond 7~10%
[/quote]

Man, I really hate bonds. If only for the reason that their credit ratings don’t mean jack, I would avoid them. Consider, if you will, former AAA grade debt that, given economy’s tumult, is worth less now than the water in your toilet bowl… For what? A small percentage return that a decent CD comes close to approaching.

I would also regard mutual funds are also a really sketchy option right now. Unless you STRONGLY agree with an individual fund’s prospectus, you pay a dear amount in fees in return for potentially more risk than you may have an appetite for. They also often lock you in for X amount of time and there’s no certainty that you couldn’t do better yourself.

38

[quote=“Jibby”]
Man, I really hate bonds. If only for the reason that their credit ratings don’t mean jack, I would avoid them. Consider, if you will, former AAA grade debt that, given economy’s tumult, is worth less now than the water in your toilet bowl… For what? …[/quote]

Don’t confuse government bonds with corporate - sure Iceland’s debt is not worth too much right now but generally the US, UK and Japan pay their debts.

39

[quote=“Edgar Allen”][quote=“Jibby”]
Man, I really hate bonds. If only for the reason that their credit ratings don’t mean jack, I would avoid them. Consider, if you will, former AAA grade debt that, given economy’s tumult, is worth less now than the water in your toilet bowl… For what? …[/quote]

Don’t confuse government bonds with corporate - sure Iceland’s debt is not worth too much right now but generally the US, UK and Japan pay their debts.[/quote]

This would definitely be true in general, but I think it’s fair to say that we find ourselves in a special time. I recently read an article that pointed out several major corporations that were still under significant financial duress whose bond ratings did not reflect a true level of risk. Unfortunately, I can’t find that article, but I did find this from Forbes: forbes.com/forbes/2008/1013/130.html

40

I am thinking of invest in Kiddie Rides in Taiwan but i cannot find a suitable source to start with
This is kind of passive incomes