September 4, 2008 at 5:19 pm · Filed under make moneys
There are a lot of ways to make money if you have money. You don’t have to turn to complicated businesses or ordinary ways like bank C.D.’s. And you don’t even have to use your money. If you have credit cards, for example, you can get cash advances, and make money with the cash. These are ways that aren’t quite a business because you can do them once or only when you feel like it.
Invest In Other’s Expertise
My friend John had to show me several car magazines before I understood why an old fiberglass car was a good deal at $2,300, because I know nothing about cars. When he eventually convinced me to put up the money, it needed a new transmission for $900. Fortunately, he sold the corvette for $4,300, netting us about $1,000. I took half the profit ($500) for putting up the money for the two weeks.
I used to do this quite a bit years ago, and only once lost $50 or so on a car. I knew nothing about cars, so I did it with friends that know cars but don’t have cash. By the way, if I had paid 18% interest and a $50 cash advance fee to raise the money with a credit card, my profit would still have been over $400, and John did all the work. I love playing with money. Do you have any friends who know everything about boats?
Buy And Sell Mobile Homes
Pay cash and you get better prices on almost anything, including mobile homes. Sell with easy terms, and you get the highest price, because you are making it possible for someone to buy a home. More than one investor out there is buying and selling mobile homes.
I read one investors story about a recent deal he did. He bought a mobile for $4,000. The seller was asking $6,500, but was tired of waiting and paying the lot rent. The investor cleaned it up and sold it for $10,000, with $1000 down, payments of $250, and 10% interest on the balance. Did the buyer overpay? Hard to say, since his alternative may have been renting and having nothing to show for it in a few years, instead of having a home with some residual value.
Be A Loan Shark
People occasionally need money for a short while. A friend of mine for example, got a good paying construction job because I loaned him $300 to get drywall stilts. I used to do this often many years ago, and I never charged less than a $5/week as a loan fee (don’t call it interest). I made one or two thousand dollars extra some years doing this. If you have any qualms about it, check the laws in your area and put it all in writing. Also, if you want total security, take collateral.
Buy And Sell Estates
We recently met a couple who buy out estates, sell some of the things at flea markets, then run the rest through auctions. They’ve made a living doing this for years. They load up a trailer after negotiating to buy a whole house full of stuff. Then, if they don’t want to do the flea market thing, they just auction everything on Sunday afternoon for a nice profit.
If you are a good judge of value and have a regular auction nearby, you could do the same with rummage sales. Just offer $100 for everything and then auction it off piece-by-piece. The auction near us lets anyone sell their stuff, with no fee to enter. They just take a 25% commission.
Playing With The Casino’s Money
I worked at a casino for years and I saw a lot of people foolishly writing down the numbers that came up on the roulette wheel. Foolishly, I say, because their their theories were nonsense. Casinos will always welcome these players and even hand them the pen and paper.
One player, however, was actually scientific about it. By finding a bias in the wheel, after “charting” it for 5,000 spins, he made thousands betting on just one or two numbers. When a number comes up, it pays 35 to 1, but one of the numbers, because of manufacturing imperfections or whatever reason, was coming up 1 in 27 spins, instead of the average 1 in 38 spins.
So all he had to do was bet $10 a spin, and he profited $80 for every 27 spins of the wheel in the long run. That’s about $100 per hour. The ups and downs are dramatic though, so this is not for the faint-hearted. In this case, I saw him lose as much as $700 in a night. Also, not all wheels have biases (they eventually replaced that wheel). So have you ever tried “card counting” in blackjack…? There are endless ways to make money.
Steve Gillman has been studying money for thirty years (and sometimes making a little). For interesting and useful information, visit his website, Unusual Ways To Make Money: http://www.UnusualWaysToMakeMoney.com
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August 31, 2008 at 8:04 pm · Filed under make moneys
When I ask why you don’t start your own business, I always hear, “I don’t have money to start a business.”
This is a common excuse people give for not starting their own business.
There is truth in the statement. You actually need money to make money or to start a business. But the question is “Do you need a lot of money or little to start a business?” and “Whose money do you use?”
Yes, I admit that it does take money to make money but it doesn’t need to be your money!
Recently, one of my friends closed his restaurant business due to staff problems. But he quickly jumped to another business opportunity.
The business idea is so good that I want to share with you.
He is now running a training company. He focuses on corporate training. Basically, what he needs to do is to bring in famous trainers to his workshops. Market and promote the workshops and get people sign up for the workshops.
How much money do you think he needs to invest to organize one workshop? From getting the speaker to marketing, from selling tickets to renting a venue?
It will definitely cost a lot of money! Even if you only talk about marketing.
You know how much money my friend put in to organize a workshop? Close to zero!
How could that happen? How on earth that he doesn’t use his own money to organize a workshop but all the profits go into his pocket
Here is how.
He got the idea to look for sponsors for his workshop. After a few rounds of searching and corresponding, he managed to get big companies to be the sponsors for his workshop.
For companies to become my friend’s sponsors, they need to contribute money to promote the workshop. This single idea helps my friend to save hundreds of thousands of dollars in marketing.
Not only that, his sponsors also help him to market and sell tickets for his workshops. He also can leverage on the sponsors’ client databases.
Of course, my friend doesn’t mind to give some commissions to the sponsors from the sales of tickets. It’s only a small fraction of the whole profit.
By making such an arrangement, a lot of work is off-loaded from my friend. It’s like having a well-oiled machine working for you without much of your involvement.
My friend doesn’t need to invest a big sum of money for his workshops. Someone else will pay for his workshop expenses.
Does this sound like an excellent business idea? Of course, it does.
This is what I call ideas at work. Making money does not necessarily require huge capital, it’s all about coming up with ideas that other people are willing to invest in.
As Napoleon Hill once said, “One sound idea is all that you need to achieve success.” And also stressed by Robert Kiyosaki “Money is an idea.”
Abel Cheng offers small and medium enterprises exclusive global profits insider tips in his free publication, Abel Cheng’s Business Diary. To officiate a bi-weekly subscription, please go to
http://www.abelcheng.com/diary.html
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August 5, 2008 at 5:08 am · Filed under make moneys
When Warren Buffett announced that he would give 85% of his wealth away, with the bulk of it going to the Bill and Melinda Gates Foundation, it allows us to learn three clear lessons:
Lesson #1: Great wealth can create great good. Gates’ foundation is already recognized with treating millions of children in Africa with vaccines they would have never otherwise had. Most agree countless lives have already been saved. That kind of good will only now increase.
Lesson #2: It is perfectly OK to give to others beyond our immediate family. Buffett made it clear in his announcement that while his family certainly will not be wanting for anything he didn’t feel a need to give it all to them. Many families fight for every penny of a possible inheritance meaning that often charities their parents supported never see a penny. That’s too bad. If a church, hospital, college or other cause is important to you now, provide for them in your estate planning as well as your family. This is a way to add great meaning and purpose to your own life and to your life’s work.
Lesson #3: If you work hard at what you love and succeed, there is no reason to feel guilty about success. There was no indication of guilt in the eyes of Bill Gates, Melinda Gates or Warren Buffett. Many people may argue with their business decisions over the years but it’s difficult to argue with their current decision to be charitable. The tremendous wealth these people have built over the years will now be given back to millions of people they will never know.
These are only three of the lessons that all of us can learn from the Gates’ example and that of Warren Buffett.
Scott Hove is “The Entrepreneurial Pastor.” He takes the guilt out of success.
His latest book (in progress) is titled: “How To Make Money Without Feeling Like You’re Going to Hell”.
To learn more about him and how to have him speak to your business or organization visit: http://www.ScottHove.com
Visit his blog at: http://www.EntrepreneurialPastor.com
Tags: finance, financial advice, Make Money, money, personal finance, tip, tips, wealth, wealth buildingfinance, financial advice, Make Money, money, personal finance, tip, tips, wealth, wealth buildingShare This
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