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- Jul 24, 2007
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You are wasting your time looking for returns on money you don't have. Kick that money making into high gear. Then you can worry about what to do with it.
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Free registration at the forum removes this block.talks about how he makes 8% interest lending his money to people.
hen just set it in the bank and make like anywhere from 5-8% interest on it.
I can find safe investment yields in the 4%–6% range
You are wasting your time looking for returns on money you don't have. Kick that money making into high gear. Then you can worry about what to do with it.
I make around 9-11% on a portion of my cash and retirement funds by lending. These are loans secured by real estate, so they are relatively safe short-term, and much more than relatively safe long-term. The process for making these loans is quite simple, and there isn't a lot of overhead or management involved.
The downside -- like with any lending/investing -- is that you have to have some level of expertise in the assets that you're lending against. If you have a decent amount of cash that you want to put to work for some safe returns in the 10% range, it may be worth spending some time learning about real estate investing and how to lend to investors.
Yes, but you claimed I said 8%.
Read Unscripted . It doesn't get any clearer than what I wrote in there, I believe it is Chapter 48. I'm not gonna rewrite something I've already written.
Amen.
In the Millionaire Fastlane MJ DeMarco talks about how he makes 8% interest lending his money to people. I was wondering if @MJ DeMarco could maybe come and elaborate on how he's doing that, or if any of you have experiences with it and how you go about it.
Truth is, I just want to make around 1 million, then just set it in the bank and make like anywhere from 5-8% interest on it. I want a solid $40k a year to live on that I get from the interest so I can just live "comfortably" and not have to work. I just want to relax and have fun in life. Is this a good way to do it?
Thank you all for your help!
Getting what set up?
Simple process:
1. Find someone that needs money;
2. Get them to sign a contract to repay that money, and get good collateral in case they don't;
3. Give them the money;
4. Wait for them to repay (or take the collateral).
#1 I do through my network.
#2 I have an attorney or title company do for me.
#3 I have an attorney or title company do for me.
#4 should happen automatically.
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