I read and hear that business and investment success is not so much dependant on the amount of start up capital anylonger,but the viability of the business or investment idea.So guys out there,send me what business you advise i should do to start building my wealth.Better if you advise something you did yourself or know somebody who did because at 40 with a business degree i dont want to risk my core money in blind experiments.Much better if you can use some figures and time frames to demonstrate the likely viability of your ideas..
2006-09-30 15:20:14 · 5 answers · asked by nkoko nkulu ewooma 1 in Business & Finance ➔ Small Business
You did not mention what country you are in. I assume the USA.
I Invest in real estate in the USA. I make 5-50% per year. Any investment has risks. If you want relatively risk free, I know of an investment that will get you about 5% immediate, plus 11% guaranteed for 8 years.
2006-09-30 15:27:14 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Real Estate Investing. Start investing in foreclosures to build your cash...then rehabs.
As you go along and get comfortable, sell one house, keep a house and rent it, sell the next one, keep the one after that...This way you build cash reserves plus create a steady stream of income that you can count on from your rentals.
There should be an investor's club in your area. If not, call one of the "I buy houses" ads and take them to lunch in exchange for advice.
Good luck.
John
2006-09-30 15:46:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
95% of businesses fail because of cash flow problems. Build a better mousetrap and the world will beat a path to your door is a pipe dream.
If you can't risk core money, then don't be an entrepeneur. I know someone who took $500k and became an alpaca farmer in Texas, in 3 years he's selling a million dollars worth of animals a year. It took moxey, money, hard work, advertising, skill. Lots of other alpaca farmers make nothing - and they're all in the same business.
2006-09-30 15:25:57 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Hi. Well there is good news and bad news. The bad news is that at 40 you have lost two decades or so the build. The good news is that you have two decades or so LEFT to build. One of the most important fields in those decades will be environmental issues. Renewable energy, passive solar, new fuels, etc. You could look for a niche business such as solar panel servicing and installation. The prior answer suggested this and it is a good place to start your consideration.
2006-09-30 15:23:42 · answer #4 · answered by Cirric 7 · 0⤊ 2⤋
The big boom that is comming is solar power. Start reading up on solar electric and invest in the right one and you might go some where..
2006-09-30 15:21:55 · answer #5 · answered by Don K 5 · 0⤊ 2⤋