$3,000 to $1,000,000 in 15 months: HOW TO DO IT

Havent read all the posts yet. but im going to definately later.

this all is perfect for me! im 17 and im looking forward to reading the rest.
Russ, you start some very interesting posts, but I like 'em.

Okay, Ive read all of the posts and they are very interesting. Like Russ said there are 3 different types of people here, but I also see it differently. Because in those 3 catagories, The people who are successful and confident AND have the experience say it CAN be done and some say its easy (peter2 )

But the people with lack of experience say it is not possible and there is no way, or they say reduce the amount of money at the end of 15 months (the 100k plan) wel this is a $1 million plan so strive for that.

I have lack of experience but I believe this is totally possible
If you put your mind to something and work at it, anything is possible, creativity is KEY

I will post my 15 month plan as soon as I finish brainstorming about it

By the way, eBay you must be 18 to have an account.

peter2, you say its easy to create a biz that make $25,000/month, but you never explained on how to do it. I hope you can give me and the rest of us a more in-depth response if possible, please and thank you

I think he might be talking about PPC/Adsense arbitrage.

The first part of my plan:

-go to printmaking shop
-get prints of my art pieces
-sell my art pieces to gain profit
-use income to create more, but set a limit on how many, to raise value
-Donate 5% of earnings to local charity I am interested in helping
-complete more art and repeat above ^

-Use excessive cash and put into an investments account (only can spend this money on investment from here on out)
-Continue to add money to this account until I turn 18 (happens to be a month away)

Little hazy from here on out
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
-Invest in stocks
-Begin a part-time business
-Invest in real estate

-sell biz/real estate

-create another biz from $ from 1st.. my point is to re-invest passive income

needs work but ive already put this into action, I'm sure I can make things work

There are some pretty interesting posts in here.

$3,000 do $1 million in 15 months. Challenging but certainly not beyond the realm of possibility.

Acquire an REO package from a bank. Make a bulk purchase of SFRs for 50-60 cents on the Dollar. Sell it for 60-70 cents in individual pieces. eg. the bank is offering $20 million of real estate for $11-12 million. Buy and sell individual pieces for $13-14 million. Things like this are being done on a regular basis in todays market. It pays to think BIG. The notion of buying a below market value property and flipping it for $20k profit is thinking too small.

imirza, you have not mentioned HOW you'd do it with $3K. Yes, we all agree in how great buying REOs for pennies on the dollar is, but your post seems like SPAM to me. Please answer the question by providing a plan. You'd use $3K as a 5% down payment for a property worth $120K and buy it from the bank at 60K and have the bank pay for your closing costs... is this what you are proposing? or are you proposing to put those $3K in your investment group to buy these REO packages?

Andviv-

I removed the part of imirza's message that is trying to sell something.

imirza- If you are looking for investment partners, then you need to post this part in the Investment Assets section (under Residential, if you're talking about SFHs).

And imirza, if you re-read the original post that started this thread, you'll realize that what you suggest is outside the bounds of this exercise.

Please re-read the conditions/structure of the proposal and make an appropriate reply if you wish.

Thanks,

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

Sorry. Did not mean to come across as a spammer.

Russ. Did not see the no RE , no borrowing part. You could start an LLC to buy the RE for you and get equity partners and borrow from private individuals vs banks and lending institutions. Just a thought.

If RE is out of the picture than why not try brokering an RE deal. Find a bank that needs to get rid of their REO portfolio. Offer to find a buyer. If you can find a buyer and get the deal closed you could get a 2-3% commission check or even more. If the portfolio is sold for $50 million you could get atleast $1 million. Many banks and asset managers get rid of their REOs in chunks of $50 -100 million and sometimes more.

I missed that part also.

imirza-

Thank you. GREAT update to your post.

SteveO-

I'm tempted to tease you about reading the fine print, but I know you have someone in your life that works with you on things like that. I can only assume your wife doesn't read all of your posts.

For what it's worth, I don't do ANYTHING until my wife reads a contract. Almost every single time, she's found something I've missed. Part of why I married her (she sees things I don't)

-Russ

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

.....

__________________
http://snowbank23.blogspot.com/

Response deleted.

china-

This is the second time you've tried to answer this question.

The first time was called out by forum members as spam, and you asked me to delete it.

This second post was, I think, something you thought was funny. It did not constructively contribute to the discussion.

You'll note that we have a section for humor and off-topic discussions.

You'll also note that the majority of the humor on this site does not demean or ridicule others (except, perhaps, for cats ).

Please reconsider your motivation for posting/being here and try to make posts that contribute to the positive, proactive nature of these forums.

Thanks!

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

Au contraire, my dear. This is the first time I have tried to answer this particular post. The other time you slammed me for an original post that had nothing to do with this thread and I did ask to have that post removed because it was not well-thought out.

I had no idea so many of the members here were so young until I read the "Say Hello" or "Introduce yourself" board. Now I realize I was way off-color for those under 18 and I apologize. I will only talk about fluffy kitties and oinky pigs from now on and I will refrain from writing anything that would be appropriate for National Lampoon. I'll also try to add lots of smilies :smx 1: because people like you like them.

So... $3,000 to $1,000,000 in 15 months? I suggest creating a website and running unusual content. My original suggestion (since deleted) involved dates with starlets (which would be really cool, yes?) and raffle tickets. In other words, raffling off dates with starlets! Of course, you have to get the starlets to agree and herein lies the problem. Unless you know some starlets!

If you don't know any starlets, then I would still suggest a website. I would try to get popular content and a gazillion hits a day. Isn't that how people collect adsense dollars? (Oh! And try to be funny! and try to get people like Russ to hate you because people just Luv conflict!):e usa_clap:

Conflict and smilies: I just love the banana guy myself!

China-

You are right-- the post you asked me to delete was not part of this thread.

I'm sorry you feel like I "slammed" you for that post; I PM'd you (in private) to let you know that other members on these forums had reported that post as SPAM, and you PM'd me back and asked me to delete it.

My apologies for misremembering/thinking that it had been part of this thread.

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

It's okay Russ. I'll try not to take it personally... (I couldn't find the crying PMS woman smiley so I guess this site isn't catering to women... boohoo... )

I'll try to only write humor for younger folks and I'll stay away from anything having to do with Frank Sinatra or <gawd forbid> Huey Lewis & the News.

Silly old me.
Love this one:

Hey, I like Huey Lewis and the News!

(I used to live across the street from Huey's dad).

I like Sinatra, too.

Never lived close to his pop, though.

-Russ H.

(hint for the video below: Hit play and mouse forward to 4:12-- that's when the music starts)

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

Do ya think we can get back on track with this thread????

PLEASE?

Absolutely!

Let's get back on track:

WildAmbitions, you're obviously following this thread with interest.

What would *you* do to take $3K an turn it into $1M in 15 months?

Looking forward to your response.

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

Think about how many examples there are of people who've done this less than a year ago. Here are two:

www.milliondollarhomepage.com - took him 5 months
www.milliondollarwiki.com - He's at $100k in 3 months I believe

I heard about this from a friend of mine and don't know the name of the company. I post this just as an example of thinking outside the box. Two people developed a website that tracks lightning strikes. Collects weather data from sources online. Simple huh? WTF do you do with a website that collects lightning data???? Sell it to insurance companies!!! Result? $1M sales in a few months.

How about a site that sells a service at $25/mo. 10,000 members in 12 months. $250,000 a month in gross revenue.

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My blog - Live Learn Invest