Millionaire Challenge

lessonlearned

podperson wrote: »

Hi guys,
I think the problem I tend to have is I'm on a low wage and have very little left after the bills come out - so at the moment am concentrating on getting extra cash in and then am putting that into other things Does anyone remember the name of the book that looked at multiple income streams? Have quite a few ideas for things that am in the process of getting set up so feeling quite positive again
Everyone seems to be doing really well - and Lea good luck with the property.

Hi Pod, this is what I'm trying to do, earn and save as much as possible this year, so that I can then build up some "seed" capital.

Sorry don't know the book - hopefully someone will come along soon with the answer.

I agree though - multiple income streams are best - less risk - not putting your eggs all in one basket etc.

rictus123

lessonlearned wrote: »

Hi Pod, this is what I'm trying to do, earn and save as much as possible this year, so that I can then build up some "seed" capital.

Sorry don't know the book - hopefully someone will come along soon with the answer.

I agree though - multiple income streams are best - less risk - not putting your eggs all in one basket etc.

The million pound question is what are the different multiple income streams to go for? Obviously once 3 or 4 are established, the capital it brings can be used to create more via property,shares,saving bonds etc. Its getting a couple underway with next to no capital while finding something that works and is continueous(sp!)

The ideas are great but what we need is action!!

lea123e

Alas, I have been pipped to the post with the renovation house. But not to worry there WILL be others! I really hate dealing with Estate Agents(no offence to any on the board of course!) everything seems such a rigmarole with them so I am planning to do a leaflet drop in this same area, aimed towards people who need to sell quite quickly whether thats due to financial difficulties, divorce etc. And I would certainly offer a more fair price than some of these awful scavenger companies that I hear of frequently who "generously" offer to buy peoples houses for 50% less than the market value, that would not sit well with me.
So back to the drawing board for now.
Hope everyone is well and happy Wednesday!

lea123e

podperson wrote: »

Does anyone remember the name of the book that looked at multiple income streams? Have quite a few ideas for things that am in the process of getting set up so feeling quite positive again .

Sorry I'm not sure what the name of the book is, but if I manage to find anything like that I'll shout up!

I'm in a similar position, dont have a huge income so need to look at creating extra sources of income through mini businesses, internet etc. And of course be as frugal as possible with what I do have!

Wishing you all the very best with it

lessonlearned

rictus123 wrote: »

The ideas are great but what we need is action!!

I know, I know. I'm getting so frustrated that I can't get going quick enough.

I will have to spend 4 days this week at various hospitals, once for me - just a routine check up and 3 consequetive days for OH's treatment, day off on Friday - going to London for a few days, back home on Monday and then OH to hospital again next week. Then I really must spend some time with my elderly parents next week (aged 85 & 86) to check they are ok. Phew.

Then - hopefully will be able to devote some time to my plans. In the meantime I have applied for some part time paid work. Fingers crossed - more money for the pot.

podperson

Yup, am definately with you there LL. Get so annoyed because I have lots of ideas but no money to actually 'start them up' - it's pretty much impossible to save anything on my salary so am doing things like matched bets, ebay, odd bits of work etc and then putting it straight back into the pot - eg buying things for resale. Slow going though - hopefully once get a bit more in the kitty then can look at more avenues and will start trickling in quicker.

lessonlearned

Hi Lea,

Sorry to hear you were pipped at the post. At least it confirms that your instincts were right. It was a winner.

Keep looking. I think the leaflet drop is a great idea, very pro-active.

My friend's dad did the same thing. He wanted a particular house (not for investment but as a "Forever family home". Every six months he wrote a letter to the owners - eventually they sold it to him. A fair price to everyone, no agents fees or commmissions - everyone was happy.

Pod - one of these days I will have to ask you to explain MB to me. I can but give it a try.

Baking_Mad

Is this the book you are after?

http://www.amazon.co.uk/Multiple-Streams-Income-Generate-Unlimited/dp/0471714550/ref=sr_1_1?ie=UTF8&qid=1327530711&sr=8-1

podperson

I don't think that's the one I remember but looks interesting so thank you

tinktay84

lea123e sorry to hear you were pipped to the post but asothers have said there will def be more and you obviously have an eye for the kind of property that will be good.
Well ive spent the week leafleting, networking, updating my website, clearing my backlog of paper work etc so although I haent madde any money ive planted the seedds to bring more money and to prepare me when money flows.
Im also slowly but surely working on my ebooks and am also polishing off a story I wrote about a year ago that I am hoping to publish to kindle in the next month or so.If I get that up i am going to start another.Ive always loved writing and seeing how easy it is to publish now I figure its worth a shot.
LL, good to see you have some money flowing in, like you say its a great start. Hope you are having a great weekend