What is the quickest way to make a million dollars?

What is the quickest way to make a million dollars?

Here’s the basics, for what is used by most to make a million dollars quickly.

1/ get the right mindset.

Don't quit your day job…  until you are earning it least as much as what you get now.

2/ Trade (buy something to resell at a significantly higher price(at least 50%).

At first a 100% profit will be easy, you can find many low priced things and double what they cost when you start dealing with items worth more than say $2000 you will no longer be able to double your money so easily (that’s fine I’d rather buy a car for $2000 (after all costs) and sell it for $3000 after costs to bring $1000, than buy a sword for $30 and sell it for $200 (i used to buy a lot of swords for about $20-30 each and sell them for hundreds), as the total time you spend doing either of these is about the same (so would you rather $1000 for your 5-6 hours or $170?) The amount you pay is less relevant than the total profit, get into the larger profit items as quick as you can.

2.1/ Learn all the simple skills required (sales technique etc.) *Don't worry at the end of this I will also supply those for free.

3/ start small with the amount you can spare if you only have $50 to start with find something that is worth a couple of hundred that;s selling for say $80 and bargain it down to $50, then ask $200 and take $150 if need be (selling at an items value and not above helps speed the sale and the quicker the sale, the quicker you have even more money to do it again, but with $150 this time) So what then? See if you can find 3 of them and do it again, or something worth $450 being sold for $200 and bargain them down again.

When you get to $1000 start to think of cars, as a grand from a cheap car is usually fairly easy. Continue the process, trade your way up after 3 or 4 cars you should have about $5000, as the more they cost the lower percentage you will make (a $1000 car you sell for $2000 is $1000 profit, chances are you won’t find a car for $5000 that you can sell for $10 000 very often, so you’ll have do do with a 50% profit instead *It sells for $7500. But still you are now making $2500 for the same amount of time put in.  when you get to say $10 000 it may be better and will be easier to find 2 $5000 cars for a $2500 profit each than a $10 000 car that you can sell for $15 000. (know the laws regarding the sale of cars in your country *having more than 1 car for sale may mean that you are acting as a dealer without a licence) Though it is still not difficult to buy a car that normally sells for about $15 000 for say $9 000 and spend a little on it to bring it up to the $15 000 value (say $1000) then ask $15000, but be prepared to get $14 000, but so what it’s still about 5 to 10 hours you put in to gain this profit.

4/ upgrade again; when you get to say $100 000, buy a property worth $120 000 but would be worth at least $200 000 with say $40 000 in renos, again pay less than asking price, use your whole $100 000 to buy it… You don’t have the money for the renos… it doesn’t matter at this stage. As this is where you get the bank involved. You own the house, borrow for the renos. They will lend $40 000 on a property worth $120 000 to make it worth $200 000. You can renovate and have it sold in less than a month (if you know the basic keys to getting it done quickly) if you do it well. Pay the bank and costs involved you are probably left with  $140 000 or more, now you’re making $40 000 in a month (or maybe 2, 3 if you don’t do it well). Scale up again, buy another ($140 000) and again borrow from the bank NB use their money and make more profit - if you buy at $100 000 again and this time use the other $40 000 for renos you end up with about $50 000 after costs again, If you buy a house for $140 000 that you can put $50 000 into via renos it should be worth say $260 000 or more. So it costs an extra $40 000 initially and an extra $10 000 on the renos and the small amounts like sales costs and the interest maybe add an extra $5k though you are getting about $10 000 more after costs by using their money. You will also notice that the percentage of profit has reduced again.

5/ keep scaling up till you make your million dollars. People often do this kind of thing and make their 1st million in 2 to 4 years. Quick!  

6/ Diversify:  as early as half a million you may want split what you have into other projects the most simple is to keep doing what you're doing and let's say it that stage you'll have 2 quarter million-dollar houses is being sold, do it again this time; 3 bought at $165ea to sell at say $280ea. Sell 2 and keep one as a rental (it is a different income because a rental is a passive income that grows and mostly, quicker than inflation) So, $560 000 left from the 2 sold, pay the bank etc which may have cost $120 000 your left with $440 000 ($60 000 less than when you started this step, but you now have $440,000 and a rental house worth $280,000, you’re now worth $690 000. $440,000 to buy 2 reno jobs, and a  $280,000 asset with a rental income of about $1000 a month after it’s costs. (if you’re paying rent where you live , move in yourself and save/invest the rent you have been paying) Keep buying more, just keep the occasional one for it's residual income. This also gives you even more buying power with the bank as they’ll loan you at least $220,000 on that property. which could be a $160,000 property with $60000 in total costs. keep it as a rental because the rent will be paying more than the mortgage and it's other costs (as a general rule the banks will give you up to 80% of the value of the properties you own if you are using that money to do the same thing). Here’s where ‘money makes money’ really applies. 3 properties in any stage between purchase and sale is probably enough do it a little longer keeping 1 in 3 the money on loan will make up the difference when you have 10 properties including the 3 most recently renovated  you will probably owe the bank about what three of them are worth, You will now have 7 rental incomes of maybe 7 to $10,000 a month after costs at least, all except for tax. 

note: You're probably not doing the renovations yourself so hiring someone to manage that process will cost a few thousand dollars per property

If you don't do this or at least something like this what is going to change? Nothing! Your life is going to be no better than wherever it is you're going right now.

You will need the right mindset, I have a free course which will teach you that.

You will need people skills and sales skills, my course also teaches that.

You will need planning skills, guess who teaches that?

Too good to be true. What if in 5 years you found out that it was true and many people are learning these things and doing them to gain similar results (note: this is a good case scenario not a worst case or best case scenario).

So why is it free then?

it's by donation at the end I merely ask that you contribute what you think it was worth and if you can't afford to contribute that much then contribute what you think is fair and can afford.

So why is it by donation as that might not return as much?

I want to teach as many people as possible on this planet to improve their lives by giving them the skills, methods and tools required to improve their lives and to me doing so is more important than money. I want everyone to at least be able to get it for free.

When you make it to $1 000 000 I hope that you might consider donating a second time at that stage (if you think the information contributed to half of that I'm not asking you to donate half of it maybe just 10% of its value say $50,000 at that stage), but still it's up to you. How much would you give at that point ? I don't care if you say: “nothing, because I have never donated to anything in my life” fine then have it for free and if you don’t see value in giving back. don’t.



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