Real Estate, Stocks, Options, Business
So, when I first started thinking of financial freedom one year ago I knew absolutely nothing about how to make money. Can’t say that I know a lot now, but at least I have more ideas, and experience.
I bought two condos a year ago, sold one, and in process of selling the 2nd condo after remodeling it. Now when I think about it, I would rather remodel the condo that I already sold, and never bought the condo that I remodeled. Location is everything, and the 2nd condo is located in great location, but it’s still listed and no offers yet. The problem is the HOA that does not keep up the property and does not maintain it.
Stocks and Options.
To be honest I lost some money on it. But it seems to be one of the cash-flow strategies that looks promising in the long run. I went back and looked at why I lost and now I am doing it more careful and I am not aggressive when I enter a new strategy. There are old investors and bold investors, but there are no old, bold investors (not my words).
An awesome subject with multiple ways to start and follow. At first I was thinking about the world of retail, buy less and sell for more. Another prospect is to rent store space to sellers, still be a re-seller but might sound a little better. I don’t want to own a restaurant or fast food spot, I feel it’s not for me at all.
Franchise idea sounds great, but it comes with the price. Initial investment, in a good franchise, outweighs funds that I have now. Here are the ideas I had:
- Automotive franchise (carwash, tires, oil/lube, auto parts)
- Fitness Franchise (lifefitness and so on)
- Lending (I’ve not researched it that much)
I am back to the drawing board. I like the buy and hold strategy, especially if it’s a section 8 tenant. The goal is to own an apartment building and maybe an apartment complex. What I want to do is to buy real estate with the money that I made from my business or businesses.