How do I acquire assets??

Question

I'm only 21, but me and my dad have our own business, I don't fancy the idea of working for someone else. So, I know that I have to acquire assets and limit my liabilities. But, I know like a washateria would be a assets, but being 21 and with little or no capital, how would I go about acquiring an asset to put some money in my pockets. What types of assets are there?

Answer 1

Wow a young person who does not want to go hog wild with the credit cards and then beg for info on how to "fix" it. Very refreashing.

Start small. Get a few shares of stock that pay a dividend. Get one that pays a good dividend. Look up FRO and start there. Get some stock thats paying and then start doing covered calls against it. Very conservative approach. When you build up your account enough to use it as a down payment on something else...go for it. Make sure you have a large down payment so your payments to the bank are managable. If things go wrong from time to time, as things will, your payments will be managable.

The art of war by sun su says build up a position of strength and then advance a position and do it all over again. I hope your successful. I"d like to see you make it. You can start with little money buying stocks. After you get about 500 shares you have enough to make it worth while to start writing calls. The extra cash from the calls can be used to by more shares. The dividends can be used to buy more shares and thus you grow.

Answer 2

It sounds like you a;ready have a part interest is a business so you are gaining assets each day as a partner in the business. To further aquire assdets you may use your part of owenership to gain credit or line of credit to purchase asstes. As you make payments on the asset you gain equity in the item you purchased. Another way is to join a credit union. Thi is very inexpensive and after about six months of activity in the union you can apply for credit to purchase assets and they are easier to work with in most cases than banks. Good asset investments right now and multipal unit housing and collector items such as some old vehicles, and related items.

Answer 3

You need to get a second job to buy assets . You also might get some books on relestate on how to buy property no money down. Thats how I started at your age. Now I am worth a couple million. I am 47. By the way ,I got a second job and bought the books .Good luck

Answer 4

wealthy Dad damaging Dad is a start up in spite of the indisputable fact that this is totally incomplete. There are no longer any good "starter supplies" to get all started with. you are going to be able to desire to concentration on what you like and then start up determining to purchase them. in fact, with my experience, working a activity and making an investment in supplies takes perpetually and demands an excellent style of self-discipline. you're extra powerful off beginning your very own organization, reinvesting decrease back into it, and shifting money into supplies you adore. As an worker this is going to probable take you 5 to 10 instances longer then a reasonably powerful entrepreneur who has some self-discipline and common experience. For the "sake" of your occasion, i might recommend genuine supplies yet that's because of the fact i'm biased and love genuine supplies. the final suggestion i ought to supply you is to: one million. concentration on an asset classification, learn and study approximately it (you do no longer might desire to be attentive to each and every thing!!! - that's top), and then start up taking steps to start to take a place in those supplies. 2. Repeat many times lower back. the biggest mistake I made in my profession early on became spending thank you to lots time gaining understanding of approximately supplies relatively of making an investment in them. understanding by myself would not entice funds. non-supply up and super action does. So do paintings you're enthusiastic approximately and love, then make investments those money in supplies you adore. Repeat. this is that easy and you will fail massive time alongside the way. yet you are going to be able to desire to as a fashion to prevail. In my case, I plan to purchase one million-2 leases each and every person year for my retirement. i'm going to sell some to commerce up for larger homes alongside the way however the element is to locate what you adore and then no longer in any respect lose concentration alongside the way. And no you do no longer decrease your liabilities or fees. You decrease the stupid customer debt and wasteful spending. You do improve your liabilities (good debt in genuine supplies as an occasion) and as your earnings will improve so will your fees in spite of the indisputable fact that this is of course good to decrease the wasteful spending huh? stay targeted and do paintings you adore. you are going to be able to desire to examine so lots extra and take extra negative aspects.

Answer 5

The best way is to buy them. Those who steal them usually finish up in jail.

Answer 6

You must pray daily to the Mighty Pugi, bastard step son of mother nature, the God of industry, concrete, and asphalt. Through him is all progress. Only through the teachings of Pugi will you be led to desired assets.

Answer 7

Invest!!!

Answer 8

I suggest an MBA.