Become a price puritan. The only reason for price to exist and change is because of Supply and Demand. Where there are more buyers with reasons to buy than sellers with reasons to sell, price must rise. If there are more sellers with reasons to sell than buyers have reasons to buy, price must fall. If buyers and sellers have equal reasons or none to engage each other, price remains unchanged. Pure price trading techniques are true to this inescapable economic law.
Establish a relationship with a bank that offers small business loans. Open a company checking account, after a few months see if the bank will offer overdraft protection.
OAnalyze your cash flow examples. This will tell you whether you need to cut back on expenses, earn more to make ends meet, or whether your budget is working perfectly.
How do you stop being a lone wolf? Tap into your current family and friends experiences, expertise’s, or networks. Take out a piece of paper and make a table with 4 columns.
When all was said and done I went to a local bank and presented it to the loan officer. She said that she normally did a quick glance and rarely read entire plans, but was so captivated by the opening Executive Summary that she asked me to wait while she finished reading. She immediately agreed to forward it to the sba representative for approval. That was an exciting moment indeed!
You’re already putting aside 10% of your money (Pay Yourself First Rule of Thumb) and once you pay down your short-term debts, you’ll have an extra 20% of your pay freed up to invest wisely. Actually, if you’re setting money aside tax-deferred, you’re putting more than 10% of your net pay aside each pay period, but why split hairs.
Ditch the software crutches. Software is not a substitute for critical thinking. Break down the logic in the software (how, what and why). Black box software cultivates an addiction for repeatedly mindless subscriptions. Break the habit, trust your logic to reason – you have profitable trades that you thought through yourself. As you “outsource” the administrative tasks associated with trading (e.g. record keeping of trades), do not outsource your brain.
Getting financing to rehab houses is harder now than before the crash, but can still be done. The preferred method to buying houses for rehab is cash or using an equity line of credit. This way if you are dealing with a motivated house you can close right away without the hassle of jumping through a lenders hoops. If this isn’t an option, you can find a private lender to fund your real estate deals. By offering friends, family, and anyone you know 8-10% interest you should be able to raise the money. You can set it up to defer payments to them until the rehab is complete and you sell the property. You will give them a first mortgage and personal promissory note in exchange for the money. This means they get the house if something goes wrong and can come after you personally.