From Rich Dad down through the rabbit hole

[Garthog]

Hi,

So quick introduction, I just turned 29 and I am currently starting up after finally having sold the family estate (including the family business). Sob story: I inherited this together with my mother and it took over 10 years from my life.

I read Rich Dad, Poor Dad in 2012 and I've traversed the rabbit hole ever since, listening to podcasts and reading books. I did become active in real estate on the side (as one does), for which I fortunately ended up at BiggerPockets. But the country I live in is not the high margin real estate opportunity it is in some places in the USA. I wish someone told me that before wasting two years, though I fortunately came out the other end in the black.

So I am now basically looking for other ventures.

These forums seem like they are to entrepreneurship what BiggerPockets is to real estate, so I hope to get the same involved mindset and community benefits.

The two main opportunities I am looking at are buying cash flowing websites and starting something in import-export and its relevant logistics. There's also the kindle book route as a secondary.

I'm looking forward to becoming an active part of the community!

 

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[theag]

Welcome!

Cash flowing websites are "dangerous" as they mostly rely on ad revenue and/or affiliate commissions. So theres a lot of stuff out of your control.

Import/Export on the other hand is a definitely a great business model. You will find A LOT of resources on that here. Check out @Walter Hay 's threads on the "technical" side of importing and basically a lot of progress threads especially on the inside.

I also recommend investing in an INSIDERS subscription and reading the fastlane book if you havent already. Both provide enormous value.

I would also recommend maybe changing your username to not reflect your real name. All content here rises to the top of google pretty fast. Not necessarily bad, but some people might not know this and might want to keep their discussions here a bit more private.

 

[Vigilante]

Greetings. To get the hang of the place, I would suggest you pick up the book The Millionaire Fast Lane.

http://www.themillionairefastlane.com/

 

[theag]

Btw, @Vigilante has a few good posts on import business, too.

 

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[Garthog]

I read the book, sorry, I should have started my introduction with that perhaps.

For the websites, I bought the book from exitplan.co and I am looking in the +25,000 USD range, so I don't intend to make rookie mistakes. I'm looking for immediate cash flow investments within my control, as I do have quite some background in websites, this trumps real estate when I look at the multiples and due diligence is quite similar to that for real estate.

Good to hear there's a lot on importing on these forums and thanks for the warm welcome!

I'll try changing my username. I came from BiggerPockets and there you're obligated to use your real name, so thanks for the heads up!

 

[Bila]

Bienvenue/ Welcome Thierry, i would suggest to read the articles and go to archives for the progress thread ( i printed some so i could underline some advice )
I am relatively new as well, but already learned a lot ....and ( this is why reading archives is important especially the progress threads ) is very helpful to not make the same mistakes done by others before while starting/ running a business.

 

[Garthog]

Thanks Bila, that's exactly the kind of thing I'm looking for. This is a pretty vast place, but I'll get the hang of it!

 

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