Getbig Millionaires Advice on how to invest

[Rambone]

You listen here you cowardly Canadian. You are a guest in our country and we don't need anymore renters, leave that to the Beaners who live 15 in an apartment. Now is a good time to buy a house.

Advice the cowardly Canadian should’ve heeded

[Darren Avey]

Go back to Canada and be ruled over by that king of the cucks

[IroNat]

Getbig millionaires?

Try billionaires.

[GymnJuice]

Low cost index funds

[Lartinos]

Investing can help, but I don’t think that it will make you rich like you want unless you take trading very very seriously for the longterm.

That would mean studying like you are in college for quite awhile and understanding at first you may lose.

A better idea for you is to get a better higher paying career or build on that right now.

Once you have the better job is when investing would put you in a position to make the big money you are looking for.

The future looks good for actual traders, but I think retail traders are going to be in a world of hurt eventually.

Even if it is just a bullish correction on a high time frame chart the % decrease we can see for awhile would not feel like a bullish correction. It will feel like the end of the world..

[Coach is Back!]

Invest in gold….this kind of gold

[a_pupil]

unless youve got some inside information on stocks.. then you should just ivest your money into valuable items like original paintings, classic furniture, pieces of art and history and all types of things that will always increase in value, not just relative but quantitatve as well...   

 

One of the greatest minds that getbig ever produced

[Rambone]

One of the greatest minds that getbig ever produced

Hahaha!

[Hulkotron]

Wonder if OP managed to retire.

[ThisisOverload]

1. Max out 401k every year
2. Work for a publicly traded company that offers stocks at a discount, invest 10% if you believe the company will prosper, reinvest dividends
2a. Work for a company that has an income deferral program, defer another 10% of your salary into mutual funds or other accounts they offer
3. Flip a few houses with cash money
4. Never borrow money from a bank or pay interest
5. Study land use plans, learn permitting and land development
6. Buy land in strategic locations based near good school/college locations
7. Develop your land with cash (and/or partner with other developers) and sell pads/lots to builders who focus on housing or retail
8. Buy new land, develop more lots/pads and turn your money at least twice a year
 Repeat steps 6 through 8

I made a small fortune flipping houses in college towns and renting to rich kid's parents. It's a lot of work with very little risk. Worst case they cause a few thousand dollars in damage but you require 2 months up front and a downpayment, have a good lawyer write your lease contracts. Rich people pay silly money so their kids stay in houses on campus instead of dorms/apartments.

I've worked in land development for 25+ years, seen a lot of average joes get rich. Just have to watch your exposure to risk and know the right people. Go to development events and learn who the big dogs are, become their friend.

You're welcome.

[Humble Narcissist]

Lottery tickets. It's such a great retirement investment that it is the #1 investment strategy for people in West Virginia.

[Irongrip400]

1. Max out 401k every year
2. Work for a publicly traded company that offers stocks at a discount, invest 10% if you believe the company will prosper, reinvest dividends
2a. Work for a company that has an income deferral program, defer another 10% of your salary into mutual funds or other accounts they offer
3. Flip a few houses with cash money
4. Never borrow money from a bank or pay interest
5. Study land use plans, learn permitting and land development
6. Buy land in strategic locations based near good school/college locations
7. Develop your land with cash (and/or partner with other developers) and sell pads/lots to builders who focus on housing or retail
8. Buy new land, develop more lots/pads and turn your money at least twice a year
 Repeat steps 6 through 8

I made a small fortune flipping houses in college towns and renting to rich kid's parents. It's a lot of work with very little risk. Worst case they cause a few thousand dollars in damage but you require 2 months up front and a downpayment, have a good lawyer write your lease contracts. Rich people pay silly money so their kids stay in houses on campus instead of dorms/apartments.

I've worked in land development for 25+ years, seen a lot of average joes get rich. Just have to watch your exposure to risk and know the right people. Go to development events and learn who the big dogs are, become their friend.

You're welcome.

This would be very cool. I’ve done some outside storage/contractor storage lots that make a bit of money for nothing. It’s peanuts though in the grand scheme like you are talking. My wife has suggested the partner up thing to be able to do larger deals on a shorter timetable, I just am worried about the quality of partner I’d get on something like that. I had a partner at one time and it didn’t end amicably.


I actually thought about building a spec house this year. I could explain how I’m already involved in this process on a smaller level, which is what gave me the idea. I could realistically shit the money to do a build for a small $325k new build and see how much money there is in it. I haven’t really thought about the flipping thing, but maybe that’s the best place to start when it comes to the residential development side?