Hey again everyone, Here is Chapter 5 of my book "Achieving Financial Freedom In 30 Days" - As ive stated before i am NOT the best writer in the entire world, the main purpose of my books are to help people who want to get into investing and those who simply have no one to ask. My books are currently for sale on Amazon, BUT, I like the idea of making them free for everyone on Steemit to read because, well, you guys are awesome.
Hope you guys enjoy!
Chapter 5: Step Four
Time to learn
This book is called “achieving financial free in 30 days” for a reason, I know I put a lot of yearly examples in here, but those serve a purpose. After doing an action for 30 days it becomes a habit. Most people tend to fail at things that they try because after 10 days of doing something they stop, they get tired, and they fall out of it. There was a point where I wanted to have smoothies every morning for breakfast. I remember blending the bananas, strawberries and blueberries every morning, adding in soy milk ( lactose intolerant here ) and being proud because of how I had stuck to it and how delicious it was. After about 2 weeks I thought.... Ok, well, bread wont be so bad, you know what, I mean, another day wont hurt, and before I knew it, I had the blender set under one of the cupboards and ended up not using it for months. One day I got up, decided I would try it again, and I made sure that I stuck with it for 30 days, by day 28 it had become almost a reflex, I wouldd wake up, go to the kitchen, started peeling bananas and mixing fruits and It happened almost like clock work.
30 is the number that humans connect to for some reason, whether that he the “true” age of maturity that we give ourselves as we age. Or because its the closest to the amount of days In a month, indicating a full cycle of time. I mentioned earlier that I'd try to be as honest as possible without breaking any bones or hurting any feelings. But these are the reasons why people fail time and time again. How many things have you wanted to accomplish in your life that just never ever happened because you stuck with it for a few days, made sure to post on social media that you were doing it and then stopped completely. Only to take up a new thing just a few weeks later to once again show people “yeah, look at me, New Years resolution, I'm doing it this time!”
That's another thing, stop posting or rather don't start posting all your accomplishments on line for others to see, what this does is cause you to start things just so others can give you a momentary pat on the back and give you the upper for a day. When you do things make sure you do them for YOU and no one else. You might be doing It for your family, and that's fine, but make sure that at end of all of it, if there's no one there to pat you on the back and give you a high five or a thumbs up, that you're still on track because its what YOU want to accomplish, DO NOT let your success hang on the shoulders of others.
Investing is easy, and I mean that in the most truthful way possible. You remember the example from before with the guy who started reducing his debt and started buying gold and silver, it was as simple as that. Now, I wont quote prices of gold and silver as the market constantly fluctuates, but gold and silver coins can be purchased in fractions. So, instead of buying 1 ounce coins, you can buy ½ ounce and ¼ ounce coins as well, so it fits into every ones budget. Sidenote - (There are actually groups of Women in poor regions of India who will work all day and night, and at the end of the day they will actually pool their money together and buy fractional Gold Coins, and after a few years, the women again come together, and use the coins to buy a tiny hour or an apartment that then becomes their investment among friends.) This not only becomes a way to invest, but it also becomes sort of a ( lets see how much I can save up and accumulate ) game. Because going from zero to $15,000 saved in a year is an intoxicating feeling, now, just imagine doing this year after year. The possibilities are endless.
I try to look for simple yet clever ways to invest, I understand not everyone has $350,000 sitting in the bank, and if you do, that's wonderful, this guide is more for people who are starting out and would like to know where to start, whether that be starting off huge or starting off small. I'm personally really into real estate, and that's more so because I've developed a deep love and fascination for it, I find the idea of owning property ( and thus the land ) something to be very exciting and up lifting, its also something that I see as a huge safety net. Not only does this property pay you every month in passive income, BUT ( and this is a big but ) should all else fail, and I mean, something dramatic, you'll STILL have a roof over your head.
Again , not everyone has dramatically large chunks of money laying around or stashed somewhere for a rainy day. One of the coolest and most interesting ways that I've found out about investing in real estate doesn't involve buying large mega mansions, but in buying parking spaces. Unorthodox? Yes? Passive income working cash cow? Also yes.
In the beginning it bugged me so much that every time I searched for something in real estate there was always something that cost around a quarter of a million, or even things that were $100,000 were out of reach, and that's when I stumbled upon buying up parking spaces. Now I don't mean buying an entire lot filled with 650 spaces, but, buying up parking spaces next to peoples homes, next to apartment buildings and even buying them inside of large parking garages. I found out that most could be bought for less than $10,000 which blew my mind, now, keep in mind, these places wont be spitting out $1000 in rent a month, but, they will give you an extra $120 in your pocket each month. This is spectacular especially as land becomes more and more expensive every year all over the world. 1) don't be afraid to invest and 2) don't be afraid to start small, empires weren't built in a night.
You have to make sure to stay focused on the goal and do what needs to be done to execute it. Investing doesn't have to be some hassle, something that feels like a chore, it should, and I hope that it does, feel like something that will drag out of whatever hole you're stuck in. there are literally millions of different ways to invest and make your money grow, you just have to find your groove and stick with it.
One of the most important things that I\ve learned over the years is, what works for everyone else might not be the best thing for you. Ill explain, for instance, person A and B love investing, but person A and B have very different goals in the end. While one person might desire a fancy mansion with a brand new car, the other might just want an additional 600 bucks rolling in every month from passive income. I have friends who invest with the sole purpose of ruling the world, they want to be the head honchos of their division. Me, I'm fine with simplicity, my goal is to have money coming in every month passively so that I can travel at my leisure, so that if I want to go to another country for 4 weeks I can do it with no problem, friends coming in to visit for a few weeks? I have money to hang out with them and show them around town without having to look into my wallet and see moths flying out. Make sure that what you have planned is suitable for you, that when all is said and done that you're satisfied with the money that you're making, because in the end its your life and you should live it the way that you want to.
Real estate is a time honored tradition of building wealth, its tried, tested and true. When starting out, or even better yet, if you've been at this for a while, do not let the illusion of buying large fool you. The person who just purchased the million dollar property is probably also in $900,000 worth of debt that hes now stuck with for the next 30 years, and heaven forbid should he have to forfeit on the loan. However, on the other side of the coin, there are MANY homes that can be purchased for $25,000 and under, and I don't mean rat infested homes, or anything in a highly undesirable area. People love to stick to the idea that when you buy property that it MUST be in a large city, that it must without a doubt be in some large highly dense stretch of land, because at the end people love the bragging rights.
What happens when you buy a property for under $25,000 is, more than 9/10 times, its bought in cash/ purchased outright. Meaning, you're in no form of debt after you are the owner. ( again keep In mind how simple it is to save 10k a year with discipline ) it ends up equaling a house or apartment every two years. Where I live now, its possible to buy an apartment for $16,000 ( Dec 2016 figures ) and these are NOT in bad areas, the trick is, that they usually end up being student housing. That's right folks, student housing is usually on the lower end of the cost spectrum, simply because students need to and want to pay less, so while I'm not bringing in tens of thousands off of one property per month, I AM bringing in a significant amount of cash flow from owning multiple of these properties. Also make sure to remember that there will always be students, everywhere, all over the world who will need housing, providing a very stable investment opportunity.
There was a video I saw online of a guy who was in a similar position, he couldn't figure out how to get onto the ladder and realized that he didn't have to do it the big and large way, he saved and saved for two years and managed to buy a two bedroom apartment, it was near a university and he was not only able to move into the apartment himself, but rent out the other bedroom AND subsequently the living room as well, creating cash flow that required his tenants to get up early, go to work and to pay the rent, and the money that he made from the rent and his job he used to purchased another apartment and then another until he ended up owning multiple complexes in his area before the age of 30.
To drill this into your head once again, it can all be done, its not difficult, the only thing this takes is time. While time is finite , I like to think of it like this. Imagine where you are now, and what you know, where you work, and what your life is like, now imagine yourself 40 years from now, is there any part of you that wants to be in the same exact position, working for someone else, having the thought and threat of being fired over your head? The fear of a potential eviction? Now, imagine that you sat down and saved for 5 years, your dedication is spear headed into one direction, you do anything and everything in your power now not only to save but to build up your knowledge and your money. At the end of the 5 years, you're now able to buy 2 small apartments, or for that matter even a two bedroom apartment, that you can rent out to others, that makes others pay you. Over the course of the 5 years, how many parking spaces could you buy? How much gold and silver could you accumulate ?
Investing is not difficult, it all matters on you, and it depends on your desire to live the life that you've always dreamed about.