New from NJ

[NHS]

Well hello guys and gals

I have come to the conclusion that I no longer want to be poor. Which has led me to this site.

Little background.

I am your typical guy who loves expensive cars and loves the party jet set lifestyle. Did this for most of my life and it it has made me nothing but poor. I have almost nothing to show for all my years of hard work.

Now I still enjoy the finer things in life but I am also more sensible. Even settled down and getting married next year. Also trying to take steps to make myself rich and quit pissing my life, work and money away.

I have gotten rid of all my debt and am saving to pay off my fiances student loans right after she graduates. She wants to start a daycare center and I want to help her do that. I have an investor which thankfully has more experience then I do and is a good friend and should be able to teach us along the way. So thats the plan in the next 2 years. Get rid of her debt and float her while she starts a new business with the help of my investor friend.

After that we want to start looking into buying rental property. Once that starts generating money we plan to buy a house for ourselves which I imagine is 4 years away.

Anyways I admit to being a complete noob to business and wanted to know what others think and what your opinions are.

Thanks
Nate

 

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[Kung Fu Steve]

Welcome!

I'd like to recommend the book "The E-Myth". You'll find a wealth of information about starting a business like a day care. The rest you can find on this forum :smx19:

 

[NHS]

Welcome!

I'd like to recommend the book "The E-Myth". You'll find a wealth of information about starting a business like a day care. The rest you can find on this forum :smx19:

Thanks Kung Fu Steve I will look into it.

Way I figure I'm making a solid 6 figures and want to get my girl going first since she is currently only making 25k a year. Getting her up into the 6 figures will help us to get things to really take off.

 

[clee4]

welcome Nate. im also from NJ, Morristown to be more exact. looks like you a quick plan up and ready to go. what kind of rental property are you looking at? commercial? residential?

everyone starts out as a newbie. just gotta put in the time and be willing to learn new things.

 

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[Smooth]

Welcome! Everyone starts out new, but the successful ones are the ones who actively gain as much knowledge as they can and absorb it like a sponge until they are experts. Becoming an expert in your field is non-negotiable if you want to make it. In your case, you need to become an expert in the child-care business and the real estate business. Not as hard as it seems, but it takes time -- you learn best by doing.

 

[NHS]

welcome Nate. im also from NJ, Morristown to be more exact. looks like you a quick plan up and ready to go. what kind of rental property are you looking at? commercial? residential?

everyone starts out as a newbie. just gotta put in the time and be willing to learn new things.

Hi Clee

That's a few years away I think but I am interested in getting some apartment complexes. I have friends that the whole family just runs apartment buildings. The kids get old enough and they help them get their first building and guide them along. I got some great friends. :smug2:

My big hurdle is my fiances 40k student loan. I will have it knocked out in 6 months though. Then we can get the ball rolling in a big way. :icon_super:

Welcome! Everyone starts out new, but the successful ones are the ones who actively gain as much knowledge as they can and absorb it like a sponge until they are experts. Becoming an expert in your field is non-negotiable if you want to make it. In your case, you need to become an expert in the child-care business and the real estate business. Not as hard as it seems, but it takes time -- you learn best by doing.

Thanks Smooth

My fiance has help turn 2 daycare centers around and become profitable for the owners. She got a big thank you and they bought nice houses. So She knows the inside outs of how they operate. But yeah we still got alot to learn.

 

[clee4]

haha thats good the kids are learning through trial by fire. dont even mention student loans....i still got a few grand to pay, im only about 2 years out of graduation.

im trying to learn the ins and outs of real estate at the moment, but im not sure if thats the way i want to go. im still trying to figure out what i want to do.

 

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[MJ DeMarco]

Hello Nate!

Even settled down and getting married next year.

Congrats! May I ask where did you meet her? (I usually ask this when I hear someone is getting married ... it is always interesting to know!)

 

[NHS]

Been poking around the site and find it very helpful.

I've also just been looking at the world different in general. I guess I got to the point that I just want to have money.

Great thing is I have figured out some ways to pull in some extra cash, oh and have fun doing it. One step closer to my goals.

I did have to buy a cargo van. Buy stuff load cargo van sell stuff take out of cargo van. It's F*cking genius.

 

[NHS]

Hey all,

Haven't been around here for some time but thought I would give a little update. Still have alot to figure out but the last year has been a big learning experience.

I still have my day job but my wife has left her job and runs our e-commerce full time now. At this point we just get by and are trying new things and learning along the way.

We have relied on Ebay and Amazon in the past and one thing that MJ says and I keep hearing in the back of my head is that I don't have control. I'm moving my business to my own sites and just starting to create our own products. Don't have it all figured out but we are moving along, making money and starting to come up with our own creative products and ideas.

 

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