On page 1 I wrote “ I need to learn how to do investing once I start to make money but in what? Maybe Stocks & Bonds or Commodities, what about Futures, maybe Real Estate? Each of these areas of investing has a learning curve.”
Stocks & Bonds are simple enough, you study the company and decide whether their stock or bond is going to go up or down and buy or sell accordingly.
Futures are a little tricky they need to be babysat because they go up and down at a moments notice and one can make or lose a whole lot of money if they miss the clue of what is about to happen. Now if you buy 90 day contracts on futures it is a little safer. What I mean here is you are guessing whether your contract price will be higher or lower at the end of your contract.
Now Real Estate is a game all by itself. It is not just buying or selling a house or condo from an agent and living in it. True that is one way, but not the most lucrative.
Another is to do what is called wholesaling and that is simply when you purchase a property at a lower or "distressed" price and then sell it (with a slight mark up) to another investor who will do any work that needs to be done and then resale the property. In other words buy low and then sell a little higher. After you have done a few wholesale deals you should have enough capital to possibly buy one of these distressed properties, have it repaired and then sell it yourself and reap the financial rewards. This is what is called Fix and Flip.
Many of you have seen TV shows on how to flip a house. That is when you are the investor and you buy, fix and then flip the house back to the retail market.
Many investors use the tax lien/tax deed method. This method is done by investors buying tax liens that have been placed on a property when the taxes have not been paid. This was one of the duties of a lawman in the old west he went out to properties and collected back taxes. Each county in the USA has period of time in years before the county will foreclose on a property and then have a sale for investors to buy the properties in order to get the properties back on the tax rolls.
Whatever type of investing one does they should keep a percentage for themselves and then reinvest the rest so their money can grow.
On to what is right in front of you:
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Oh, also, I would not MIND being a millionaire. But I really do not see that in the cards. Like I said, I would just like to not have to worry! If you need help, let the community know. Everyone here is sooooo helpful!
