If you could double $1,000 every year for 10 years, you’d be a millionaire. Doubling your money in a year is something that sounds easy when you say it out loud, but when you realize that this means you would have to get a 100% return on your money it doesn’t sound as easy. If you put your money in the stock market, you’ll be lucky to get 20% on that investment in a year. So how on Earth could a person invest their money and have a pretty high confidence that they’ll double their money in a year or less? I’m in the process of attempting to double a $100,000 investment and I’ll tell you exactly how I plan to do it in about 9 months. Plus I’ve got a few other ideas to share with you. These aren’t…
Yes it is possible to consistently get 30% ROI on your investments, but it’s not possible through your typical methods of investing. In the five years since I’ve started investing seriously, I’ve seen that returns of nearly 30% are possible in real estate. And we’ve achieved that mostly through investing in Airbnbs. I also have investor friends who have seen returns even far greater than 30% through purchasing businesses. So let’s look at the two repeatable ways I’ve seen investors get 30% ROI or better, and maybe some examples of other huge returns that may not be as repeatable. Can You Consistently Get 30% in the Stock Market? For someone to get 30% ROI over a long period of time in the stock market is truly exceptional. Many consider Warren Buffet to be the greatest investor who ever lived, and…
An argument could be made that there is really only one way to save money, by spending less than you currently spend. However, I don’t think this observation is particularly helpful. It’s quite easy to come up with examples of money saving habits, but each example only applies to some, not all. I wanted to come up with a few generic rules that can be applied to everyone. Here’s my attempt at creating the three rules that anyone can use to save money. Budget Reduce recurring expenses Rework your debt Before we get started, let’s set up an example that we can reference throughout the article. Here’s your imaginary finances: Income: $2,000 per month Mortgage: $700 per month Student loan: $400 per month Rule #1: Budget (of any kind) First and foremost, a person must have an awareness of what…
The word "invest" is typically attributed to the act of putting your money to use in some way, often with the goal of making more money. But I like to think of investing a bit more generically sometimes.
Kate and I opened our first Airbnb about 4 years ago and we had so much success that we've been opening new listings ever since. Today I'm sharing what we've learned about increasing the booking rate for our Airbnb listings.
There are many paths to financial freedom and that's great, because there are many different types of people. Sometimes the difference between success and failure is just whether you come across the right path. I'm hoping my list of 50 ways to make money while you sleep will expose you to many paths to a better financial future.
After looking at the last 12 months of booking rates for my three Airbnb listings, our average booking rate was around 2.5%. Elsewhere online, I've seen hosts reporting numbers between 0.5% and about 3.0%.
In order to make money on Airbnb, you need bookings, and you can't get bookings without views. I believe you can run a successful Airbnb (at least 40% occupancy) with an average of 200 views per month.
Over the last three years, I've created over $3,000 per month in passive income through investing in real estate. These real estate investments allow me to make money without clocking in and out of a job. But passive income investments are everywhere.
I believe your Airbnb cover photo is the single most important part of your listing. It's the first impression a potential guest gets of your place and it communicates so many things they care about.