How Can I make a Profit from Investing My Extra Money?
Author: eujay
Posted: Mon Oct 17, 2005 9:14 pm
Post subject: How Can I make a Profit from Investing My Extra Money?
Hello everyone,
A few questions if I may.
Do any of you know anything about investing?
I have recently been approved for a HELOC for half the value of our home. Some of the money has already been used to pay down credit cards and to rebuild a broken down bathroom.
I guess that's it as far as home improvments are concerned and I am now left with an open credit line of $ 80,000
Sooooo. I'm wondering if there is some way to make this money work for me. I know that all the books say to invest only with saved, (ie not borrowed), money but since there are no savings to speak of I'm thinking of how I might be able to make this money work for me.
I'm not so much interested iin getting advice as hearing what your experiences of investing have been. What did you do and how did you do it?
I get a bit of inspiration from two guys that I have known in my life. One guy I knew years ago when I worked construction sites in the UK. He had been sent to prison for six months and read the Financial Times every day. When he got out he got a job, saved some money and invested it. He used to come to work in a Jaguar and I know that this guy barely got through high school.
More recently I worked with a guy in California who was a factory labourer. He got a settlement after an elavator fell on him. Last I heard he sits at home all day trading online and makes about a grand a week.
I figure if they can do it so can I.
Author: scarymary
Posted: Mon Oct 17, 2005 9:43 pm
Post subject: How Can I make a Profit from Investing My Extra Money?
I know plenty but it's too much to write here. Just do your homework and stick with real estate... NOT the stock market if you don't know enough about it.
And remember, there are no easy money scams. Investing is also hard work and diligence. Even sitting at home and making a grand a week gets boring after a while...
and a grand a week is only 52 grand a year...
Author: maddybeagle
Posted: Tue Oct 18, 2005 7:55 am
Post subject: How Can I make a Profit from Investing My Extra Money?
Quote:
More recently I worked with a guy in California who was a factory labourer. He got a settlement after an elavator fell on him.
and he lived to get a settlement.
If you are interested on how to become wealthy, I would recommend “the millionaire next door”. It has more to do with living below your means.
Author: scarymary
Posted: Tue Oct 18, 2005 11:49 am
Post subject: How Can I make a Profit from Investing My Extra Money?
One thing you might want to look into if your thinking of RE is joining your local RE investors group. The website for my local group is www.digonline.org I am no longer a member but I loved going there every month and learning.
I found this website in a search engine when I was investing. I'm sure you have a local group somewhere that you just don't know about.
Sign up and go to the meetings (usually not free but a good investment if you're going to go). Usually they will meet once a month or so. Go with a pen and a tablet. Make up El Cheapo Business cards and hand them out to everyone. It should just say "I BUY HOUSES" with your name and phone number.
Everyone there is an investor but you never know... you might be able to partner up with someone until you learn the ropes...
That's how I got started but I'm now a licensed Realtor in PA. I like selling rather than buying... LOL.
Posted: Mon Oct 17, 2005 9:14 pm
Post subject: How Can I make a Profit from Investing My Extra Money?
Hello everyone,
A few questions if I may.
Do any of you know anything about investing?
I have recently been approved for a HELOC for half the value of our home. Some of the money has already been used to pay down credit cards and to rebuild a broken down bathroom.
I guess that's it as far as home improvments are concerned and I am now left with an open credit line of $ 80,000
Sooooo. I'm wondering if there is some way to make this money work for me. I know that all the books say to invest only with saved, (ie not borrowed), money but since there are no savings to speak of I'm thinking of how I might be able to make this money work for me.
I'm not so much interested iin getting advice as hearing what your experiences of investing have been. What did you do and how did you do it?
I get a bit of inspiration from two guys that I have known in my life. One guy I knew years ago when I worked construction sites in the UK. He had been sent to prison for six months and read the Financial Times every day. When he got out he got a job, saved some money and invested it. He used to come to work in a Jaguar and I know that this guy barely got through high school.
More recently I worked with a guy in California who was a factory labourer. He got a settlement after an elavator fell on him. Last I heard he sits at home all day trading online and makes about a grand a week.
I figure if they can do it so can I.
Author: scarymary
Posted: Mon Oct 17, 2005 9:43 pm
Post subject: How Can I make a Profit from Investing My Extra Money?
I know plenty but it's too much to write here. Just do your homework and stick with real estate... NOT the stock market if you don't know enough about it.
And remember, there are no easy money scams. Investing is also hard work and diligence. Even sitting at home and making a grand a week gets boring after a while...
and a grand a week is only 52 grand a year...
Author: maddybeagle
Posted: Tue Oct 18, 2005 7:55 am
Post subject: How Can I make a Profit from Investing My Extra Money?
Quote:
More recently I worked with a guy in California who was a factory labourer. He got a settlement after an elavator fell on him.
and he lived to get a settlement.
If you are interested on how to become wealthy, I would recommend “the millionaire next door”. It has more to do with living below your means.
Author: scarymary
Posted: Tue Oct 18, 2005 11:49 am
Post subject: How Can I make a Profit from Investing My Extra Money?
One thing you might want to look into if your thinking of RE is joining your local RE investors group. The website for my local group is www.digonline.org I am no longer a member but I loved going there every month and learning.
I found this website in a search engine when I was investing. I'm sure you have a local group somewhere that you just don't know about.
Sign up and go to the meetings (usually not free but a good investment if you're going to go). Usually they will meet once a month or so. Go with a pen and a tablet. Make up El Cheapo Business cards and hand them out to everyone. It should just say "I BUY HOUSES" with your name and phone number.
Everyone there is an investor but you never know... you might be able to partner up with someone until you learn the ropes...
That's how I got started but I'm now a licensed Realtor in PA. I like selling rather than buying... LOL.
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