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Monday, September 6, 2010

Rich Dad Poor Dad

To continue on about my quest to make money or atleast do better at making money and investing, I will start back with the first book I read.  In Rich Dad Poor Dad he make a lot of money through rental properties.  We have two rental properties, but I wouldn't say we are making money on either.  But we are slowly paying down the mortgages and hopefully building equity.....if the market quits dropping!  This is not how this guy would suggest making money.  He recommends getting a house for super cheap and renting it.  We on the other hands bought "homes" both times.  Not rental properties.  If we had bought them with the rental concept in mind then we would probably actually be making money because it would have totally changed what the conditions were when we were looking.  With all that said, we are not going to but another house just to have a rental property.  If you are thinking about this though I would take this guy's suggestion and buy somewhere the market is horrible, Vegas or Phoenix. 

Knowing that this main option was a no go I turned to his other suggest and found a business opportunity.  I am a stay at home mom obviously and a military wife that moves all the time.  These two factors limit what I can do.  So, I went with what I knew I could do.  I could work from home and use the internet.  I looked into a lot of options and settled with Amway.  The start up costs were incredibly low and you could really build a business through it.  I already had a basic understanding of how you could make money from using Ebates.  I realized quickly I could do the same thing through Amway.  Buy the products I was going to buy anyway and get 3% or more back.  The more people I recruited to do the same thing the higher my percentage.  Easy!  http://www.amway.com/meaganshamy  I realized that 3% doesn't sound like much, but it really adds up when you are buying food, makeup, cleaning products....and whatever else it is you buy for your family.  Plus, they have other stores they have partnered with like Best Buy, Disney, Barnes and Noble, Petco....that you get money back on as well. 

Now that I had this going for me I just had to figure out what to invest my new income in.  I knew I no longer wanted to put money in my mutual fund, but I still hadn't come across a better option.  Next up....the best investing book I ever read.

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