Passive income ideas?

[boost]

Originally Posted by Sandy D

I have a small warehouse and several large storage units full of antiques that I could stop buying today and it would take years to clean it all out.

My 2 1/2 car garage is full of the new stuff piled the ceiling.

With RE being so low and so many losing their homes and needing to rent I am always looking at real estate.

We own a piece with a storefront on the bottom and an apartment upstairs we rent and another piece of land we bought taking a chance on empty lots waiting for something to happen.

And it did, outerbelt was completed and the traffic hits it heavy and the businesses followed by buying up all the corner land. The best thing is we own a large chunk of land on the backside of one of these corners and the piece behind us is land locked. They have to buy from us to get to it and we have been offered by a large company who needs both pieces to build.

Aspkin is dead on it, RE if done right is the way to go if you have the funds or funding.

Thats the way to do it. RE is not my cup of tea though. Sure the market is down and sure therre ARE ways to make money no matter which way the market runs...but I like to be more aggressive with things. RE is a slow boat, classic cars, antiques and collectibles is where its at. And for $10,000 you can find the right classic car that will turn you a big profit if you do it right. There is a set number I go on everything that I am willing to lose. Markets fluctuate, life happens, etc. OP has $10k to play with but is he willing to lose it if something should happen?

[jamcocktail21]

Originally Posted by yotano211

ETF's are cool but also look into the Vanguard 500 index mutual fund. They track the S&P 500.

For 10k, you are not going to be buying much or anything in real estate, you would need more than 10k.

With aapl, I am shorting the stock now and oh boy, $$$$, hahhhaa.

You are wrong.I bought a property for 10K put 3k more and right now renting out for section 8.Every month 750$ cash flow

Sure the area is not one of the best but if you screen your tenants before moving you should not have any problems

Sure depends where are you live as well.In California you will not find any property for 10k but if you live on East cost you have a lot of opportunity in real estate.


Good luck

[aspkin]

Lots of different opionions on the matter.. Love it.

[slim jim]

investing in anything is real tough, it's also tough to take part in other people's ideas of investing. you have to do what feels right to you and what you understand the most. if you can't see the angles in an idea then you should not be investing in it.

[Furious George]

I love how he used the word "gamble".

I'd go to a casino...
roulette table...
bet 5k on red, bet the other 5k on black.

You're guaranteed to double your money!

[jamcocktail21]

Originally Posted by Furious George

I love how he used the word "gamble".

I'd go to a casino...
roulette table...
bet 5k on red, bet the other 5k on black.

You're guaranteed to double your money!

I would not do that

[Furious George]

Originally Posted by jamcocktail21

I would not do that

I'll take a guaranteed return over anything, any day of the week.

[rsot]

Definitely worth looking at stocks and researching. Can be good for short-term and long-term growth. Dont do Forex yet - takes a lot of monitoring.

[yotano211]

Originally Posted by rsot

Definitely worth looking at stocks and researching. Can be good for short-term and long-term growth. Dont do Forex yet - takes a lot of monitoring.

Dont get into "shorting" stocks also, it requires lots of time and now how. But if done properly, you can buy a house within weeks, cash, or lose it all in hours. It requires a lot of knowledge.

[Roscoe]

Originally Posted by yotano211

Dont get into "shorting" stocks also, it requires lots of time and now how. But if done properly, you can buy a house within weeks, cash, or lose it all in hours. It requires a lot of knowledge.

Most of my trades are on the Short side. Why? Because stock prices fall twice as fast as a rising stock, so I feel I have more movement and leverage.

There is very little difference is Shorting a stock vs going Long (buying) a stock.

Day Trading - Day Trader - Automated Trading - Day Trading Software - EliteTrader.com <<< I'm a member there, along with some Heavy hitters.

[GreenBean]

"Do or do not; there is no try."

Yoda

[GhostWhoWalks]

PUT IT ALL ON RED!!! JUST KIDDING!

Don't believe those website things! If they earn so much why would they sell it etc.

First there are 3 things I can advice you to do. 1 requires only $5k the other only $1 to $5.

Either way you go, you'll make money!

First off is you can't buy a diploma FAST enough to get a job ASAP too be 100% sure you'll get a job!

The only one I would say is pay $5k to get a CDL in trucking, and earn $3k to $5k per month! Pay your taxes, food etc. Save up $10k again within a few short months and find a good company to give you a good contract with lots of miles once you know the business and are ready. With $10k you can get a new semi truck with 10% down then you'll earn $8k to $12k per month! After you save up more money you can get a 2nd truck and hire drivers earning $4k to $6k per truck on a month off their backs so you'll be way over $12k per month now! This is doable within 6 months! You can get 3 trucks within 9 months and be close to retiring with $15k to $22k per month! Once in a while you'll have to jump and drive those trucks but who cares you'll be making $150k+ per year!

2nd thing is go to the dollar store and sell stuff online, for more then 400% to 2000% profits until you can figure out what you really want to do in life or save up more money!

3rd you can get a 1 ton cargo van, and sign up and do transporation earning $1.5k to $2k per week also! I wanted to do this in 2005, and a friend of mine his dad does it.

Or get a regular job, sell part time online till you figure out something to do.

Or you can do what I did with $2.5k and turned it into $12.5k in 12 months. You need lots of research and brains.

[yotano211]

Originally Posted by GreenBean™

"Do or do not; there is no try."

Yoda

Yoda is the wisest alien in the universe.

[Sandy D]

I think we should all invest in moving in with GB.

Would be expensive to move that far but well worth it.

Free room and board, free meals, etc.

[yotano211]

Originally Posted by Sandy D

I think we should all invest in moving in with GB.

Would be expensive to move that far but well worth it.

Free room and board, free meals, etc.

I 2nd that motion, I would be first in line. I would bring just my clothes and my laptop.

[Sandy D]

Originally Posted by yotano211

I 2nd that motion, I would be first in line. I would bring just my clothes and my laptop.

Then we can invest all of our money in anything we can find

No living expenses....

[yotano211]

"no living expenses", then where do we live, I am not doing a sleeping bag again. I have already done that when traveling around Europe.

[GhostWhoWalks]

Buddy you don't need any money to invest all of it either. This morning I just found a way of making $25 per day on fiverr, you invest about $300 into it and bam you are in business. Some of the guys on there been making $7300 to $10,000 per year. Now doing this is only on fiverr but you can do other things as well, like other websites and so on. And that work only takes 30 seconds to do each time for $5. Not so bad! Save up money plus that $10k you got there until you get some place.

Sky's the limit on the internet man. Save that $10k and do something with a few $100 only.

[Sandy D]

Originally Posted by yotano211

"no living expenses", then where do we live, I am not doing a sleeping bag again. I have already done that when traveling around Europe.

GB owns a mansion and a B&B, we can all fit.

You know GB will find a way to make passive income from all of us staying at her place.

[GhostWhoWalks]

Well I don't live to far from GB then! 2 hours by flight! Count me in! lol.

She'll put us too work.... just like they do in China! LMFAO!!!

[Sandy D]

We all watched the house flipping shows a few years back and they were popular.

Now they seem to be all gone.

I think this fits today economy better then it did a few years ago.

Next week I am going to go to the courthouse as they have some very interesting properties up for bid.

Anyone here ever do this?

Buy houses or land at a sheriffs sale?

[GhostWhoWalks]

Do a lot of research before you go. I was in real estate, a long time ago. But make sure you know how much things costs to fix up. Roof $5k, electrical problems, pluming, taxes, yearly tax, etc. Know how long before you can sell the house without paying taxes on it. See what the value of the houses are on the street. Etc. Simple stuff.