And Now for something Completely Different

I haven't really allow this side of my life to be expressed on this Blog ... I am an avid entrepeneur. I love to see ideas become reality and then monetized. I am always exploring ideas and finding ways to create wealth. Maybe in the near future you may see a blog dedicated to this avenue of my life, I am bouncing some ideas around about starting a group of entrepeneurs that want to create wealth together and explore and pursue ideas. These things are important to expanding our 'kingdom' influence

But for now I thought I would post this article that I wrote for another entrepeneurs blog. This is one strategy that I have found to be working well.

Give it a read...



6 Simple steps to Creating your wealth.

There are a variety of options to build a wealth portfolio. I have a strategy that I have done that is working well, has marginal risk and would be considered a conservative approach. My primary residence is my source of building a portfolio. When I purchase a home I have a certain criteria that I follow. There a different options here depending on your own preference. I focus on new homes but it can be done with older homes... Just more hassle. A caveat must be laid out here... It does not always work as planned so a person must be ready to hold on to a place if needed.

1) Look for a new development in a community that is growing. New developments tend to want to get some of their first units sold. So pricing is aggressive and a quick research study will show that your best opportunity is in phase 1. The last place I bought I got a 3000 $ gas card as well as a good price. I bought the first place in the whole complex (keeping on top of the emerging developments always helps).

2) The strategy is to decide before you even move in what your magic number is. How much equity gain is worth the flip. My number is usually 40000 this will cover all your legal fees as leave you with some good coin.

3) Timing - when the market has grown and your equity is where you want it begin to shop around and kick the tires on some deals. Be prepared to move quick if need be. Our last place sold in 1 showing.

4) always always always... Buy something that will fit in with market demand. Don't buy a one bedroom condo in a community that is built towards young families. 2 bedroom townhomes 1200 -1300 square feet are good items right now because the market caters to first time buyers who probably will not want much more or can't afford much more.

5) Keep it rollin...try as much as possible to roll your gains into your next purchase. I have not done this in every case simply because I wanted to do other ventures but as much as possible let that money roll into your equity. You decide what that means for you... I like to risk and try new things thus I have lost a lot of money as well as made a fair sum.

6) Stick to the plan do this strategy every 12-18 months depending on the market and you should be able to have next to 500,000 after about 6-7 years ... Provided you keep rolling and do your homework.I have done this threetimes in the last 24 months and have grossed over 115,000.

Love to hear your thoughts...