Similarly, while running your online boutique, you'll be able to find and spot good suppliers and products with time and asking yourself how can I do better.Passive income may be generated in various ways, thanks to the abundance of online business options. Differentiating a good deal comes with time and experience. Had I just focused on adding more assets, I would have not been left with any cash to buy the better deal and would have been stuck with the first one. However, the next deal I picked was also for a duplex but with less downpayment and more cashflow. I remember the look on my partner's face when he saw me pass the deal because I still had a long way to go to get out the rat race. Even though I had $10,000 and could invest, there was something inside of me that told me to pass. While playing the game last night, I came across a big deal for a duplex with a downpayment of $8000 and cashflow of 160. Sometimes you'll we have a good deal right under our nose and it slips away because you did not realize it. One of the biggest challenges in the game and real life is to spot a good deal and grab it. First, have the boutique generate cash and then use that cash to re-invest and grow your business rather than jumping in with all the savings and then trying to figure out what to do. If you want to start your online boutique, start small. Starting with small deals give you the opportunity to start building your portfolio until you can flip them for profits and buy big deals that generate more cash flow thereby helping you to get out of rat race.
0 Comments
Leave a Reply. |