No Money - Help Wanted

Sim

Administrator
Here's an option (not your only option though)...

Step 1 - Get some money

How to do that ?

Try getting a job ?

Might sound silly but I've heard it works.
 
Hi TheBacon

Find a great deal - the money will come.

But remember the golden rule...

"Those with the gold make the rules"
Lease options are great for people with no money.

Realise however you can spend money or time. Without money in this market it will take massive action on your part to scare up a good deal.

Not saying it can't be done. Just don't expect it to fall in your lap.
 
Country town, low cost, First home owner's grant- and live there for 12 months...

Hey, no job, what do you have to lose?

Don't expect capital growth though. It may come- but that will be a bonus.
 
Apology

The Bacon.

My apologies for my earlier post. It was just plain rude.

I have spent a frustrating day with accountants deciding how much of the funds that I worked hard to accrue to donate to the tax man. The 'No Job - IP Wanted' bit struck a raw nerve.

I actually ripped off the reply with no thought about your personal circumstances, and I regret it. I do wish you all the best in acquiring an IP.

Regards
Anthony
 
Smarmy buggers ;)

Thanks for the advice.

The Job?
Just back from a round the world trip and I've spent the last week mailing out resumes and job applications. I dont ever want to write an answer to a vague selection criteria again like; 'Applicant must have well developed interpersonal skills with the ability to relate to people both internal and external to the organisation.' - ugh, who writes this drivel?

The IQ test?
Yeah, I'd probably have the same response, made me laugh actually. No offense taken. If you cant laugh at yourself what kind of Australian are you anyway?

What I'm after is ideas for growing a few thousand dollars into 10k+ without using an ING savings account and waiting the years till it becomes a useful amount. I'm thinking of Shares (particularly options) among others.

Once I get this capital (through plain old savings or equity or shares) I'm looking at regional areas for my first IP. Lower cost, higher rents. Yes more risks but I need to start somewhere...


TheBacon
 

Sim

Administrator
Have you ever played Robert Kiyosaki's "Cashflow 101" game ?

If not, the basic intention of the game is to educate you about money and financial responsibility. The goal of the game is to get out of the "rat race" by investing in various instruments until your passive income is greater than your expenses.

One of the challenges facing all players of the game is how to make enough money to start being able to participate in the larger deals that get you closer to your goals more quickly.

One of the more popular methods in the game is investing in shares (well, speculating actually), looking for capital gains which can then be used to buy cashflow producing properties and businesses.

If you haven't played it, I suggest you go and find a group and go try it out. If you have played it... perhaps spend some time thinking about what strategies worked for you in getting out of the ratrace.

One of the key messages to remember is, that you don't need a high income to be able to make it out of the rat race.
 
Having played Cashflow 101 many many times and won it using every single profession in the game, I do have one criticism.
And that is, that it's too easy to make money on shares in the game. If a company comes up with $1 shares, guess what, I already know that at some point in the game a card with the shares worth $30 or $40 will come up, I borrow to the hilt to buy masses of shares, then sit back and wait.
This gives people a ridiculous concept of the sharemarket. In reality, nobody knows which $1 shares will go to $30, and which will disappear. I've done a lot with shares, believe me, I know what I'm talking about!! And options just magnify the risks (and yes, magnify the returns if you're successful - IF!!!).
101 is great, but in the end it is just a game, with all the limitations that brings with it.
 

Sim

Administrator
I think the key is more that if you can get good capital growth, then you can use that to buy cashflow which can get you out of the "rat race"
 
Re: Smarmy buggers ;)

Originally posted by TheBacon
The Job?
Just back from a round the world trip and I've spent the last week mailing out resumes and job applications. I dont ever want to write an answer to a vague selection criteria again like; 'Applicant must have well developed interpersonal skills with the ability to relate to people both internal and external to the organisation.' - ugh, who writes this drivel?[/B]
Glad to be out of IT and running my own business. The thought of applying for another job gives me hives. damn my arms have broken out in red welts. shudder!


What I'm after is ideas for growing a few thousand dollars into 10k+ without using an ING savings account and waiting the years till it becomes a useful amount. I'm thinking of Shares (particularly options) among others.

Once I get this capital (through plain old savings or equity or shares) I'm looking at regional areas for my first IP. Lower cost, higher rents. Yes more risks but I need to start somewhere...
Ask yourself this... If you can turn $2K into $10K in the market why would you look to get into IP?

If you think IP is the best asset class for your needs today, then use it to make the money. The problem is you perception that you need $10K to begin with.

Aside:
Maybe you are asking the wrong question. Ask yourself how do I get $10K together so I can do this deal.

Get a evening or weekend job - Should get you to $10K in 3 months to a year.

Need it faster than that?
Family Loan
Personal Loan
Credit Card Advance

Also ask yourself what would you do if you had $10K today. If you can't answer it then you probably aren't ready for the deal.
 
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