Here is a list of the top 5 ways to become financially free. This list is not comprehensive and doesn’t dive into the details of each. I just want to give a brief overview of the ways I’ve studied and you can decide for yourself which way you want to go.
Each way described below shows ways to start out and get Into the business. You will need to devote time and income from the following ways to set it up where you no longer have to work in the business but work on the business.
# 5 – Drop Shipping
In reality. You could find a need from a party group of people and offer to fill that need. Use that income and dump it into marketing and start the snowball of freedom. Let me break it down for you. You find a product on AliExpress and sell it to someone for a markup. You don’t need a website, to even start. But it certainly helps. You could create a Facebook group post products, invite your friends and have your friends invite their friends. You could set up payment through an e-transfer. You can become a member of groups of interest. Like a mommy group where they would want baby stuff. Find a product that every mom would want. Ask that groups moderator to put an advertisement for a product and take in orders. As you get sales you’ll want to put the money into a website. Then. Marketing, you’d expand to Facebook ads and Google AdWords.
#4 – Wholesaling
You definitely need ambition and a phone. Wholesaling is where you offer to buy a house from someone for below market value and sell that contract to investor buyers looking for a deal. You would want to go online and start collecting buyers. Get on LinkedIn and add investors. Once you add them to send them a message asking if they’d be interested in wholesale deals. Same can be done with Facebook groups and going to REI meetings. They’ll give you their email and number. After you get a list of about 100 then you’ll want to write a letter stating how your interested in buying a particular address home no matter the condition. Make the letter look like a party invitation and hand write it. The. Deliver the letters to houses in areas where you think people would want to sell below market value. To negotiate a deal. You want to build rapport and have them give you the price first. Get it under contract and send the details of the property out to your buyer’s list, through email or phone Calls. Assign the property for as.much as you can. Generally, wholesalers make 10k avg per deal. Then you can focus on paying for marketing including websites. Paying for mailing, and hire someone to receive phone calls.
#3 – Rent To Own
Rent to Own is the process where you find sellers or renters who will agree to their home being sold at full price at a later date. The difference here is that you will find them a rental buyer where they agree to a lease with the opportunity to buy later down the road. Craigslist and Kijiji are the best places to go find sellers/renters to ask. You’ll ask them if they’d consider rent to own and then you’ll explain the process to them. Many people do not understand rent to own and will need to be educated so that they will know it’s an option to sell at a later date. Once they agree. You’ll want to put it under contract and market for a tenant buyer. The hardest part will be finding a seller. Once you achieve that. Finding someone with a downpayment/assignment fee for a home who wants to.move in but doesn’t have the credit will be easier. The assignment fee is added
#2 – Blogging
Full disclosure. This is not a full on
#1 – Rent To Rent – Subletting
Subletting – where you rent from a landlord, and then rent to renters. Also called rent to rent. You would find a home that has 3-4 bedrooms. Call the owner up and ask if they would be interested in a long term lease where you would ensure rent was paid on time each month and would be rented out per room. The goal is to make a positive cash flow of 150$/room at
- Drop shipping
- Rent to own
I’ve listed these in to help give you perspective on what is possible. I would like to dive deeper into each way more and provide as much help as possible so if you have any questions please leave them in the comments below. Thank you for reading. Don’t forget to subscribe