/biz/ - Business & Finance

marry someone with money. It worked for John Kerry

>>557552
I'm doing pretty good right now. I dropped out of college years ago but I've always wanted to go back. Next year I may do it and get at the minimum an associates.

Working class pleb race reporting in. In reality, there is little room for social mobility, at least for ourselves. However, proper investing and financial responsibility will allow our children to rise to higher social status. The important thing is to teach the children financial responsibility as well so that they don't waste the gift they are given. Social station is a generational thing for us poor people

>>557557

Thought about it, but it makes me feel like a male gold digger.

>>557572

Statistically it makes more money, just don't get sucked into a debt black hole.

>>557576

I thought the rule was one class move per generation unless you're a special snowflake. My parents were born to working poor parents and made their way to middle class, then upper middle class. I'm starting out with upper middle class professions and opportunities available to me, might get wealthy in my lifetime.

>>557576
>>557579
I'd say the Internet has made social mobility a lot easier. You could quite easily do some accounting courses (as an example) online, save up enough money for a qualification exam in your country, then work your way up from there. You could quite simply go up to upper middle class from working class.

Upper class is a bit of a bitch though.

>>557858

The move to upper class from upper middle class is massively risky and requires moves reserved for a final boss fight. Truly it is the toughest battle.

I'd say that I have the right set of moves to make much more than my parents did, but the vast gulf between upper middle class and lower upper class is hard to breach.

http://www.theonion.com/articles/congress-passes-bill-to-add-armed-patrol-to-us-pov,37431/

Started off working class. Dad died and family lost a lot of income and our house. Liquidated everything. Back to 0. All 5 of us kids managed to get jobs. Mum bought a house with retirement funds for herself. After 5 years in a slavery based job I've managed to get into a junior management job in a massive corporation. Life is good and predictable now. Fuck the special snowflake s who can't drone

Nothing special about my story, but at least it's real.

>Born in middle class family, grew up with enough money to live simply, but not for luxuries
>Go to university, live as poor student, get degree
>Get low paid job because terrible job market
>Decide to go into debt and get MBA
>Get MBA, start searching for jobs on internets
>Land nicely paying job in another country

I went from middle class to upper middle class you could say. Just ordinary career progress by investing in education and skills.

>>557552
I just bought a phone so I can start job hunting.
I also should buy decent clothes etc. It's an investment, but I'm not comfortable spending money before having an income.
Gonna ebay a lot of shit this weekend, job hunting starts Monday. Wish me luck :3

>>557922

Are you one of those whiteys who got hired by slants so it looks like they have a successful international business venture because they have a round eye on payroll?

>>557933
No, I was hired purely for my skills. I've since changed companies since that job turned to shit, and managed to get a better one. Currently waiting and seeing if I get promoted within the next 2-3 years, if not, I'll look for another job.

>>557937

So are you in Asia or what?

>>557963
No, Europe.

NEET reporting

I am pretty much at rock bottom completely burnt out entrepreneur.

All I do at the moment is write out multiple business plans, ideas and priorities I need to take into consideration before going forth with them.

Been struggling to find income security (a job) for months now. Really annoying.

Bump, I don't want to be the one to write stuff out.

Definitely not impressive, but it's me for now.
>born middle-class. mom has maturity of a teen, dad a brainwashed network marketer
>always taught jobs are evil, never get one. unsustainable, hellish, etc.
>brainwashed up through 20. feel pathetic compared to peers
>have huge fight, kicked out of house.
>get cheap living, full poorfag mode, full-time job. sustainable and I feel like a champion
>14 months later I have a part-time decent-paying government job with no financial worries, but too much free time. dad can't believe how well off I am compared to him. still haven't completed any degrees
>be the DSM-V definition of ADD, no idea how to see a doctor, pay for it, get diagnosed etc. because I was sheltered
>bought productivity drugs online in the meantime, it's working out so far
After a week or so I should have enough things in order that I can attempt internet marketing. By dumb luck I fell onto some great mentors that run ad networks now, so of course they'd want me to succeed; it makes them money.

>great-grandparents were okies
>grandmother works way into middle class through sales
>daughter squanders it all with zero ambition
>grew up "working" class
>looking for a stable and decently paying career to reestablish family in the middle class and make sure my children don't repeat my mother's mistake

Where do I go from here? Any career recommendations?

>>557552

>going from wealthy to rich

I guess you don't realize that the rich don't hold a candle to the wealthy

>broke NEET
>currently living in attic of kind relative
>can't really work
>doing CBT to try to overcome depression
>occasionally doing freelance coding work, but usually i can't concentrate enough to even do that
kill me

Im currently working as an on call orderly for supported living.
I don't get the benefits but I can decide my own schedule which cuts out a lot of bullshit that you have to put up with as a full time employee.

Im planning on escaping the system by starting a nonprofit pr company that's really a front for a religious "sect". I'll gradually expand out to rehab clinics, coffee shops and dry cleaners.
I'll take all my money and buy farm land and start a commune.

> Grow up poor, the single son of a single-mother
> She gets an education as Social Worker
> Works with mentally ill people and eventually become mentally ill (also alcoholic)
> I get in foster care and afterwards a children's home/orphanage
> Move for myself in dormitory at 17
> Start smoking weed, flunk out of last year of high.school
> Poooooorrrrrrrrrr, can barely scrape money together for rent (and weed) and have to ask my mom to help me out numerous times, ends up owing her 2000 dollars
> Have to move away from dormitory, get small appartment in Arab Ghetto, get a job a phoner, blow all my money on weed
> 2008, the crisis has started rolling, sign up for apprenticeship on a factory getting both a technical high-school and proces operator education at once
> earn gradually more money, from 8$/h to 11$/h and in the last year of education 20$/h
> LAND THE FUCKING JOB AT MY FACTORY AFTER ENDED EDUCATION
> 30 $/h now + overtime + shift pay + pension + health insurance (not American btw) + career upportunities in the company (factory is a small part of a large coorporation

Every two weeks, after taxes, I have 1300 dollars in hand. And my monthly expenses are around 1000 dollars with car and insurance and shit.
Compared to where I started, life has become much better. Much better.

I have a bit of a different plan in my life. I don't really have a passion for work. Luckily I found this out before I went to post secondary.
So I have a bit of a plan. I work bouncing at a shady Russian bar. The boss is good to me, pays well. I throw out drunks, refuse thugs, listen to shit music for five hours.
But I want more money. So I'm getting a gun license, and soon I'm going to be working for less money in a legitimate security officer position. That's to establish credit and work experience. I'm kind of under the table right now.
So I get the license, I spend money on stuff I want. Passions I want to pursue in life.
But I want to establish good credit so I can buy a house.
Now, security, the job is easy. But if I fix up a cheap house and flip it, that could be good money. And it's a solid investment. A real thing.
Right now I have no debts. I bought my motorcycle in cash. I rent an apartment. Life is good and stress free. My costs are down. I'm able to save and I can still save with the shit job.

So should I even bother with the houses? Or could I just throw money into government bonds or some investment plan for dividends? I want to retire early and live single with bikes, guns, and a small country house with a dog. Also antique swords. And replica ones. To cut bottles and stuff. Because I'm a well balanced adult.

I don't plan on moving to the next level. I plan on achieving FIRE(Financially independent), that is, enough fuck you money.

Give me internet, a good desktop, and freedom over any other material goods.Time is the only resource of any value.

>>559479
This.

I was like, a step down?

>>559572
Do you know anything about flipping houses? Do you have a lot of experience with it? Do you think you could compete with the people who do have a lot of experience with it? Do you know anything about real estate, or how to find a good deal on a house?

Do you think life is supposed to be easy? Do you think if you just try, you are likely to succeed, even with no experience?

Are you willing to destroy the life that you have built on a gamble?

>>558592
>run ad networks
You have me intrigued, how does one get into that? It sounds like a good way to make a living.

>>559559
Shit probably would have been a lot easier for you if you didn't smoke so much god damn weed like a faggot.

>Grow up in working class family in a small industrial town
>Literally everyone has been working and contributing to the family's income since we were 13, everyone except for my dad made minimum wage or close to it
>One of my friends is the son of a chartered accountant (mother) and a store manager (mother), their relative wealth inspires me
>My own parents tell us to "do good in school" but can't offer much more advice, his parents convince me to go into a finance-related degree
>Work hard throughout high school, save every single penny I made, disregard stoner and oxycontin classmates
>Get accepted to an accounting program in nearby city
>Rent the shittiest hovel off-campus, only sign an 8-month lease, spend maximum of $90 per month on food, never go to parties because no money, don't bother getting internet for house, even re-use fucking Ziploc bags
>Come back home first summer and work in friend's dad's chartered accounting office, make absolute shit money but gain experience
>Later land several amazing co-op work terms with a variety of employers, favourite was KPMG though
>Complete fourth year, go to work at Deloitte
>Hours are tough but make $55,000 a year, which is more than my dad is making after 25 years with his current employer
>Pass all CA exams, will complete last of professional experience hours this December, get offer to start new management position in January for $85,000
>All my High School friends who constantly made fun of me for "wasting time in school" now refuse to talk to me and are apparently green with envy
>Thinking about quitting in a few years and starting a business with some of my friends from uni
>Look forward to starting a family of my own

Such is my life story. Now all I need is a girlfriend I can trust. That was the problem with working all the time; you never got a chance to meet your life partner. I would try dating some of the qt students at my office but that could end up being extremely awkward.

Currently working in a deadend but mostly comfortable min. wage + tips job. Living with my parents at 28 with roughly 20k$ worth of debt between some bullshit hospital bills and my car payment. Recovering NEET, have not yet entirely embraced the ways of frugality. Working on it. Working on several things on the side, from a blog, helping a friend's coffee business, to working on a couple of vidya game projects. I'm working on starting an LLC or S-Corp for the games and maybe have some websites fall under its umbrella as well. Also working on that debt and saving. I feel like I'm too much of a manchild to ever successfully live on my own though. I'm sick of room mates but having your own one bedroom or studio is too expensive for me to justify it, even in the fucking ghetto. I'm thinking about just staying with my parents until such a point where my current income is tripled; it just doesn't make sense to live on your own, only to be living desperately from paycheck to paycheck.

>>559464

North Dakota oil fields.

Go now.

>>559850

Don't date at work.

Ever.

>>559859
I don't know where else to go though. All the people my age are already in a relationship.

I will readily admit that romantic relationships (or lack thereof) are my biggest failure in life.

Lift Weights, Start with Just a few minutes, It helps get out of the depression and lethargic Rut most people find themselves in and make them work on their goals.

I cant believe how people get degrees and good money but find it hard to find a good girl. I have the opposite problem. Im a drop out with no degree, no money but somehow i have a great girl on my arm. I find it so hard to study and maintain motivation for work, if i could overcome that then holy fuck i could become anything

>parents both executive/director level atngood companies
>live ok life, not lavish but no struggles
>parents pay for college but nothing else
>live at home and save my pennies
>get married to girl with a little money
>she is in med school, want to be surgeon
>I get job at good company
>still live at home
>still saving money

>>559868
>All the people my age are already in a relationship.
Go younger. Find a naive girl who'll listen to you and do what you say.

>>559775
No, no, perhaps, no, no, no, I think that if I work hard, I may make good profit. I would have to do more research, and put a lot of work into it. But it shouldn't be insurmountable. I didn't think of this as a gamble of a pursuit. For the past ten years I've been told about carpenters and other skilled workers buying, fixing and flipping houses. I simply want to accelerate my financial growth.

>>559850
Props man

Maybe this doesn't really apply to anyone in here. I live in Sweden.

A few years ago i signed a rental contract for an apartment near Stockholm, which later was transformed into a form of co-operative apartment according to the swedish real estate regulations, which says that when a landlord wants to sell a property, the residents have the right to bid on the property.

To cut it short, this basically meant i got to buy the apartment from the landlord below market pice.

It's probably one of the better deals i've done in my life, since my neighbor recently sold an apartment of the same size for $100 000 more than what i paid for mine.

I guess I'm working class.
>22 yrs old
>Graduating from uni in mining engineering in 4 days
>Working an entry-level job shovelling rock for approx. 60,000$/yr
>35,000$ saved up in MD Management account
>10,000$ that I plan on putting into an Index Fund ie Vanguard
>Maxing out my RRSP at 5% of my income, company matches what I put into it

My plan:
>Continue working for my mine until it shuts down (it's in a bad state)
>Milk company for as much experience and free certification that I can
>Continue to work out and learn Chinese in my spare time
>Treat rock shovelling as hands-on experience that counts towards my P Eng
>Acquire a better job
>Live a fun life on as little money as I can

Not sure where to go from here, beyond that. Mining is volatile so I may want to pick up some extra skills for times when work is hard, and I want to invest well during times when money is big. I want to get into management as soon as possible because there's a dearth of management talent out there.

>>560459

Mining is a blast. I work in the mining industry as an area leader myself. I adore the culture and atmosphere of "manly ass men doing manly ass things."

What mineral do you work in?

>>560460
An area leader, is that something like a shifter or a foreman? I'm in the mill and we don't have any area leaders in here.

My mine produces zinc, copper and lead concentrates although we also have some silver and gold content in there. What about yours? Open pit or underground?

>tfw management doesn't do shit
>tfw mill manager doesn't even know what goes on in his own mill
>tfw 0 communication between mill operators and metallurgists

>>559790
so I know like two people that founded ad networks, and they both started out as affiliate marketers for other ad networks and made millions each year doing that. I guess after a few years of operating at that magnitude they probably had developed an intuition for how offers are created, what metrics to keep in mind, etc.

So if he has all this knowledge on how to be a good affiliate marketer, but there's more opportunities out there than he alone can tap into, then starting an ad network himself would be a way for him to tap into those campaigns, albeit at a smaller commission. So now he runs a firm with huge volume and small overhead that orchestrates the offers and other affiliate marketers that he helps succeed, because it makes him money too.

tldr; They needed the experience first in affiliate marketing. And by the time they made the switch they were already rolling in it. so I wanna do that first.

(I might not have answered your question, sorry;__;)

>be me
>22 living in northern ireland
>grew up low middle class
>some luxuries but nothing amazing
>got to university in england software engineering degree
>drop out because I suck at it
>living the last year in total frugality
>move out of parents place
>just got a job as a sales rep for an outsourced advertising company

am... am I doing it right?
any suggestions?

>>559982
Same boat. To be honest it's her that drives me to succeed even more so. I want a fucking amazing life for both of us, and as the male I feel that responsibility, which I don't mind. She believes in me, too, which is a great confidence boost.

I don't really give a shit about 'class' itself, though my mother and father do come from working class families. My girlfriend's father used to be a millionaire (in USD) and own several businesses in the Philippines and he left his sister in charge when he came abroad. Big fucking mistake. He lost 90% of everything and had to start over. If there's one thing I'll never do, it's drop a class or two once I make it. And least of all leave fucking family in charge.

95% of all family members would jump at the opportunity to sponge off of you. Fuck them. I just want to be filthy fucking rich and take care of my parents and girl. I will never quit.

>>560601
Whoops. I should add that I'm not a dropout, so not in "the same boat", but similar nonetheless.

>>558592

>bought productivity drugs online in the meantime, it's working out so far

care to expand?

>>560501

Finish up uni on the side, but sales isn't bad.

> poor refugee parents
> they don't speak English well, 0 assets
> I'm on my last year of school
> have a good cv and I've done a lot of unpaid internships
> and occasional jobs in my field
My future is completely ambiguous, unfortunately my field is extremely nepotistic

>>560795
>My field is extremely nepotistic
Shouldn't have gone to theater school then faggot

>>560501
Get the fuck out of the Ireland, north or south. I couldn't stand it and left. Doing quite well in England.

Or just up and ship to Oz working construction.

>>560356
>For the past ten years I've been told about carpenters and other skilled workers buying, fixing and flipping houses

Those people actually add value to the house, instead of just flipping them. No different from a mechanic buying a broken down car, fixing it, then reselling it in working condition

opinions on diversifying income streams by utilizing your own skills and ideas
Like running an online storefront or business while freelancing programming, selling any services you might have (tutor, locksmith, computer technician) meanwhile investing most of your profits
To me it seems better than working a mindless job and you are always finding new things to make more money with

>>560801
I went into finance and development you dolt
Getting ahead in the field is all about who you know

>>560704
I was talking to a friend in another thread about these things - https://archive.moe/biz/thread/544413/#544601
and ended up following his recommendation. If you do this though, a few lessons learned:
- I didn't have a scale to measure a 300mg dose, so I dissolved in water and mathed out the volume to drink. It tastes supermegagross, idk what I was expecting ._.
- The little scoop thing they send you, despite the note's disclaimer, does actually measure a near-perfect dose, given their granularity and stuff. Totally go that route instead of wasting time measuring other ways.

I only take it on my days off; totes don't need it at work, so like why burn yourself out.

>tfw your great grandfather was working class
>tfw your grandfather was middle class
>tfw your father is upper middle class
>tfw you're an unemployed lumpenprole

>>562056
you are an evolutionary disgrace... Was your mom an actual retard?

>>557970
What's your expertise?

>>562073
No, she's quite bright.

The funny thing is I'm more intelligent than all of them.

>>562088
Then why are you being a piece of shit on purpose?

>>562091
...

>>562091
Because I realise all their struggles were in vain, if not down right detrimental to their quality of life.

Work kills.

It seems that I am going to have to write a manual. Prepare for info-dump.

>>559479

Yeah, I typed that backwards. Can't remember if I was drunk or not.

The Expatriation Plan (aka Chinese Bootstraps)
Movement: Working Class to Middle Class
Requirements: High school diploma or Bachelor's degree, willingness to learn basic Chinese
Timeframe: 2-5 Years
Alternate achievements: Post-college Debt Escape
Attainment: 5-6 figure savings, Chinese language skills, Foreign Contacts, Life experience, Good Resume

Step 1: Find program suiting you online to teach English to Chinese students. No Chinese is required initially, but it would be a good idea to learn from textbooks, a program, or a class before you go. If you have a high school degree you can teach high schoolers, if you have a college degree you can teach at a college. These programs typically provide room and board and cover your plane ticket costs there and back if they are reputable.

Step 2: Set up an online income. Blog about something moderately interesting and sign up for adsense, write an ebook (average income is 5k), or find some other online income. It doesn't have to be substantial, it just has to yield at least four figures before tax.

Optional Step: Before you go, invest in extra iphones or apple computers. They sell for a much higher price in China. You can buy them at retail cost and still profit, though it's better to set up an LLC and buy in bulk, but if you are seeking class mobility then you probably don't have access to the funds or credit for a bulk purchase. If you do it is highly recommended, now or later. The Chinese also love American booze, French red wine (Bordeaux for some reason), and commonly import American oranges so these are possible alternatives to electronics. Regardless of whether you buy goods to export to China set up the LLC anyway for later use.

Step 3: Arrive in China and begin teaching. Teaching pays 12k a year at college or high school, though quality of life is somewhat better at the college level. It isn't very time intensive. Tutoring pays around another 12k a year, and finding a third job with the amount of time you have won't be too stressful.

Step 4: Budget. The good news is that everything is cheaper in China, and as long as you aren't spending on luxury items like electronics you can live like a king. 6k in China goes as far as 30k in America would. It's easy to go overboard though, so watch your expenditures. Most Americans in China are either holy rollers or there to party hardy. Don't do that, that blows all of your money.

Step 5: Tax time. Guess what's neat about earning income while abroad? In the US it's tax exempt up to ~100k. Yes, that's right, you don't have to pay a dime in taxes on what you earn to the US govt. The Chinese won't hassle you either.

Step 6: Repeat annually.

Step 7: Repatriation. The trickiest thing here is getting your money back into the US (or other country) from China. China only allows normal people to move $50k a year out of the country, so your options are sending money to a stateside account ahead of you one parcel at a time over a few years, or you can transform your money into tangible goods and pay to have them exported to the US, where you can sell them for a profit. This works best if you went with the earlier LLC, which is recommended. Also always remember to buy insurance on international shipments.

Finish: If you've made certain to stay right with the IRS and budgeted tightly, you now have a fat bank account and useful job skills. Now you're in a position to start your business, get that degree, or move into the professional world with your existing degree if you did this to escape student debt. Your annual savings are comparable to the savings of someone earning at several tax brackets above your own.

The Commission Plan (aka The Housing Shuffle)
Movement: Working or Middle Class to Upper Middle Class
Requirements: College admission, willingness to spend 6-8 years in the military
Timeframe: 6-8 years after getting your bachelor's
Alternative Achievements: Pay for college, get hired as a Contractor or Fed with your security clearance
Attainment: Six figure savings, bachelor's degree paid for, VA benefits including loans, TSP account, security clearance, resume padding, military contacts, military record

Step 1: Get admitted into college. Loans won't be an issue, and state colleges are fine. If you plan to shoot for a military career or aren't sure if you might, it would be a good idea to apply to officer's school.

Step 2: Do some research on the various branches and the MOS/AFSC/Rating that you might be interested in. When you sign up get it in writing that you are guaranteed your preferred field. GET IT IN WRITING. Personally I recommend the Air Force.

Step 3: Take the ASVAAB. Do well. Study first. Then talk to the recruiter and get your preferred career field guaranteed IN WRITING. The recruiter doesn't give a fuck about your career, just his quota.

Step 4: Go into ROTC. It makes the transition easier.

Step 5: Upon graduation enjoy your last bit of freedom, because you're military now.

Step 6: You're an O1 or O2 now, depending on if you're at the top of the class. Cut your teeth quickly and start working toward promotion immediately. Never miss a promotion that you could have made.

Step 7: Budget. Most military guys blow their paycheck because they aren't thinking. Think. Put money aside first.

Step 8: You have a TSP account. Use it. Get the full amount of matching funds and pay the full amount that you can into it. There are guides online that explain what to do with TSP accounts to get the most out of them.

Step 9: Real Estate. Here's where the tricky stuff starts. Get a VA Loan once you get a long term posting, and buy yourself a decent house. Use your housing allowance to pay the mortgage. You are allowed to do this. This effectively lets you capture the extra income from housing allowance in the form of home equity. Now get a rental house and rent it to either a military family, a less wise officer who doesn't outrank you, or a local. Make sure that you keep it filled, and that rent covers interest while paying into home equity. As soon as you have the credit for it get another rental house. You want your own home and at least two more by the time you get out.

Finish: You're 6-8 years in and have six figures of home equity in your properties. You have a fat TSP account. You have other savings and investments that should also be six figures. Now you have to consider your options. You can stay in the military another 12 years and get your penchant as a career officer, and multiply your real estate holdings. You could leave the service, keep your rental properties, and get a housing allowance while you pursue a Masters or Doctorate with the Post 9/11 GI Bill, finishing payment on your home. Politics are an option. So is contracting or working a Federal job. The sky is the limit.

Before I write more does anyone find these interesting?

>>563403
I do, I'd of course never follow through with it but it's interesting nonetheless.

>>563403

Monitoring.

>>563403

Yes, definitely

>>563403
chinese one seems like a feasible plan, I don't really care for the military one, but it was interesting as well.

I like reading things like these, continue if you have more, thanks.

Simple Bachelor's Degree (aka Boomer's Gold, aka The Classic)
Movement: Working Class to Middle Class
Requirements: Admission to college, willingness to limit yourself to lucrative fields, willingness to gamble with debt, assumption that it will all be okay
Timeframe: Why a mere 4 years
Alternative Achievements: 28k worth of student debt for a starting salary that averages 28k annually and little hope of promotion. I write this to illustrate why it's no longer as good an option as it once was.
Achievements: Bachelor's degree, you are now more employable

Step 1: Apply for and be accepted into college. Take that ACT/SAT and do well. Get a scholarship to a four year school if you can.

Optional Step: Go to community college full time while working part time and in the summer instead for two years. If you don't get a scholarship it's cheaper and just as good, plus won't affect your GPA as long as credits transfer to a four year college. Save yourself some debt.

Step 2: Major in something with decent job growth that pays well. Doesn't matter if you like it or not, though if you do it's a bonus. If you've failed to plan beyond attaining a bachelor's degree then you don't have the luxury of being picky.

Step 3: Get an internship, a paid one. Unpaid internships don't land you a job at a statistically higher rate than paid internships.

Step 4: Graduate, get a job in your field of choice.

Finish: The average graduate lands a job making 28k annually, which is laughable in the face of $29,400 of debt and little upward mobility going the traditional employment route. It's going to remain shitty until Boomers start retiring or dying and positions outside of entry level employment open up. If you didn't pick a lucrative field or get a scholarship you're probably fucked. This plan used to work when a summer job could pay for college, but the cost of tuition rises 7% annually independently of inflation. Boomers will swear by it though.

The Start-Up (aka How to Business 101)
Movement: Working or Middle Class to Upper Middle Class
Requirements: Credit and savings to invest.
Timeframe: 3 Years
Alternate achievements: Debt, wrecked credit
Attainment: Profitable business, six to five figure income, tax shelter, six to seven figures in assets

Step 1: Save and build credit. Get a decent job somewhere like the Post Office and save. Put bills in your own name and pay them on time. If you have a credit card only use it to buy small things and pay it all off immediately.

Step 2: Come up with a business plan. It could be for a food truck, a food stand, a corner store, online retail, a hookah bar, a gun store, comic book store, video game store, whatever you have some degree of interest and expertise in that you can work out on paper as a profitable enterprise. Be aware that most businesses fail. Estimate how much you need to start up.

Step 3: Incorporate and file all required paperwork. This costs a bit of money.

Step 4: Present business plan to a bank loan officer. A credit union might be better however. Keep presenting around until you get a loan that you can pay back at favorable terms.

Step 5: Three year business plan time. For the first year the business runs you ragged. For the second year you run the business. The third year the business runs itself.

Step 6: Pay yourself minimally to start with and take all of the tax write-offs you can.

Step 7: If your business is still standing after three years congratulations, you have the midas touch. Hire and train someone to manage your current business and start another one. Statistically you are more likely to have a successful business than people who's first businesses failed.

(I may come back and write instructions for specific business plans that I have some info on.)

The Real Estate Game (aka IRL Monopoly)
Movement: Middle Class to Upper Middle Class
Requirements: Income of at least 45k is preferable, a Real Estate License couldn't hurt
Timeframe: ~10 years
Alternate achievements: Ownership of a bunch of liabilities
Attainment: Equity in numerous properties, freedom from a day job, a growing empire

Step One: Learn about property. This is where a real estate license is an asset. Learn your area. Keep in mind that all it takes to double the value of a property is rezoning according to the scale Agricultural < Residential < Commercial < Industrial. Buying agricultural land that gets rezoned as Residential means an approximate doubling in valuation, but if the seller knows that's what you are going to do they're going to jack up the price on you. All that you need to do in order to rezone property is file for a variance with City Hall.

Optional Step: Leins. Go to city hall and you'll be able to find property with Leins on it. Buy up the lein and it's owed to you. If the lein is defaulted on (it probably will be ) then the property is yours for cheap. The property will probably be in a bad location, a fixer upper, or small, but you'll be able to get property cheaply.

Step Two: Acquire a rental property. Get good terms on a loan, mortgage the place with money down (a VA Loan is ideal here), and find renters. This works well in a college town or military town. Let the renters pay down the mortgage while you write it off on your taxes (mortgage payments are deductible from rental income). Keep money aside to fix them up. Maintain the property.

Optional Step: Professional Property Management. PPMs take 15% of gross rent, but they can save you a lot of labor. This isn't a bad idea. Research your area for good companies.

Step Three: Acquire more rental properties. You can buy up Leins, have houses built cheaply, or buy existing homes. Rent them out as above, deduct all of the money via mortgage payments and repairs on the homes.

Optional Step: Flipping property. This is largely dependent upon the market, but you can potentially flip properties that you buy and fix, rezone and build, or buy the leins on. The bubble of 2008's burst tells us that this isn't always an option though. Beware buying properties with the intent of doing this.

Step Four: Get the equity out when it's full. You'll have to start paying taxes on your rental properties whenever you run out of mortgage to pay, and keeping the home in good repair won't cover everything. You can either sell the home for it's initial value, or you can refinance the homes and do whatever you care to with the money (liquid investments, live on it, start a business, buy more real estate) while letting the rental property pay for the mortgage via rent, which is tax deductible.

Step Five: Whenever you have enough of a bankroll from doing this you can quit your job and shift your time to focusing on playing monopoly in real life. Shoot for development deals. Make friends on the city planning committee.

Finish: You should have seven figures in real estate, mortgaged or not, and six or seven figures of savings and liquid investment. You have a lot of options at this point.

And I'll be back to post more after I've eaten.

Hey guy who knows about rental houses, is there any way I can get a home loan if I have $8000 cash no real job or much credit. i have businesses that are under the table and can pay the mortage every month.

>>563504

Can you prove an income? If not then you probably aren't getting a loan.

>>563504
Mortgage broker here -
not a chance.

You need a documented two year stream of income to even qualify for the shittiest loan on a $28k shack.

>>563542

Question, what's the lowest interest rate on a mortgage you've seen approved or approved? I'm given to understand that 4.5% is the norm in most areas, but VA Loan is 2.75-3.5% so the choice is virtually always obvious.

>>563546
Too many variables. For one, you can buy points to bring the rate down (inadvisable; put that money in equity or keep liquid). Additionally, you get better rates based off of whether the property is a primary residence, how good your FICO is, and how large the loan is to name just a few factors.

Last year, I closed a few cookie cutter loans below 3.5% when the rates were super low. This month, I've been closing them around 4% to 4.125%, no cost to borrower.

It's not about how low a rate will be approved: approval is only based off whether the borrower can be trusted with not defaulting on mortgage payments. The rate they get is mostly up to the broker with how far they're willing to go to let a lower rate eat into the money they make off of originating the loan.

>>563550

I need to work on my FICO. It's pretty good but not great.

Anyway I might write a few more of these tonight.

Anybody screenshot these so we can pull them out again later.

Barmp