Now we're getting somewhere.....
Will, I need to understand how some of your idea's can be done.
Practical examples of buying assets without any money, generating cashflow with little money
1. 'Trade' your skills for assets rather than money
2. Get in contact with 'entrepreneurial' friends and flesh out ideas
3. Vending machines
4. Mail order business
5. Work for a friends business in return for an ongoing share of the profits or shares in the business
6. Flipping mobile homes http://www.real-estate-online.com/ss-195.html
7. Search the internet for 'cashflow generation' ideas
1 - Absolutely possible. Good idea ! (Mind you, pretty much a job). What sort of assets, and how would it help?
2 - Yep
3 - Buying them with what?
4 - Yep, but often have upfront buy in costs..
5 - Excellent idea, good thinking. (Mind you, pretty much a job, better upside tho)
6 - Could be difficult without cash, but not impossible. Thanks for the site (damn ! More reading!!!) - Question. Why would someone buy something for $5,000 that you bought for $800? What's the angle?
7 - Yes, but be careful, there's sharks out there too.
Jas - Like the idea, but that particulat place (if you could get the finance) would be significantly negatively geared, and with no income to claim against - ouch. But I like the idea. Captain - search for one like this, but in a more affordable area where yield will more than match expenses.
Other thoughts I've heard of:
Short selling stocks. Done correctly, an amazing way to make money. Who'd believe you can sell something you haven't even bought yet. Of course, get it wrong, and.....
Look for houses run down. See if there's an opportunity to buy under market value, with a longer settlement, get access before settlement. Beg, borrow and work hard to tidy place up, flip or rent out with rental income to secure loan. Harder to do (you'll need a good mortgage person)
Any other innovating idea's out there?
Must remember though, assume no money to buy anything over say $1,000. No income to support / qualify for a loan.
Lets see what we can some up with !
Will's on the right path - think how you can generate a cashflow...