“Don’t quit your day job.”  When starting a new venture no matter what it is, it is important to have income coming in to support yourself.  You generally do not make money off the bat with new hustles.  You have to do both your day job and your startup businesses at the same time/hustle.  I have some friends making well into the 6 figures and keeping the day job.  There are a few reasons for this, security, resources, money, loans and time. 

Everyone wants to feel secure.  Having something to fall back on is great.  You don’t have to take the leap all at once.  Jobs can be started around your current job.  Shoe money was able to not only keep his job (kinda) but work on his money making second job while at work.  Basically you can make loot, plant seeds for your new ventures and use your available resources.  It is possible that you can make a few faxes, calls, and even work on your second job while collecting checks until you get fired as did Shoe or bounce. 

Money is important in paying bills and getting new things started.  You could just bank money until you can do whatever business you want, or can you.  With flipping houses you need to get loans for the houses.  You can have 20% down but you need to show steady income to get a loan for the rest of the amount.  Sure there are loans you can get without the steady income but they generally have higher interest rates. 

You can save up 100% as well and buy the house with cash.  There are benefits to this, such as getting a lower price for your purchase.  But then how are you going to support yourself?  Who knows how long it will be before you turn profit (and good profit).  After you get the house you can pull out the equity, but to do so, you have to get a loan, and will need to show steady income.  Also why wait until you have saved up 100% when you can start now.  Make 600% then start quit. 

Timing is key.  There is no need to keep putting things off, figure out a strategy for what you want to do and start.  So when it is time to quit your day job you will be ready. 

Popularity: 19% [?]

Posted by LeGo, filed under Strategy. Date: December 31, 2007, 1:55 am | 3 Comments »

I finally got the Everex Green PC up and running at the crib.  I wanted to see what it was all about.  I posted about it when it had first come out here.  It is an interesting little pc.  It comes with speakers, keyboard, mouse, the full size case, recovery disk and of all things a phone cable.  Interesting that it comes with the phone cable considering it does not support dial up, only ethernet.  I have only played with it a little bit.  I am debating leaving it as it is or putting Ubuntu on it.  I also have $50 in gift cards for bestbuy, but they don’t have the ram I need online for the right price.  It is roughly four times as much at Best Buy.  I want to upgrade the stock 512 ram, but not sure if I really need to for what I will be doing on the computer. 

It is not a beast of a pc.  It is a little slow loading web sites, but then again it only cost $200 bucks.  I currently have it on a kvm switch with a XP pc.  I will probably use the linux machine for most of my business needs and the XP machine for multimedia.  It is nice to have a pc with Linux on the hard drive again.  I have been using the knoppix boot disk at the house and now will just tap ctrl twice to get over to the Linux box.  As of right now I am happy with the purchase.  Let me know if you have any questions on it. 

Popularity: 6% [?]

Posted by LeGo, filed under Uncategorized. Date: December 30, 2007, 9:27 pm | 2 Comments »

Man leaves $50,000, car to waitress“  What it do?  How lucky some are…  This type of story gives a lot of people hope.  That is the type of people that are not out there getting it on their own.  If you are waiting for something to fall into your lap, keep waiting and let the hustlers hustle.  This is about hustle, not luck.  It is like Abe Lincold said “Things may come to those who wait, but only the things left by those who hustle.”  It is cool to dream but make your dreams a reality.

Popularity: 5% [?]

Posted by LeGo, filed under Motivations. Date: December 29, 2007, 2:40 am | No Comments »

Well I have been waiting two days to make a post about the house.  I had the realtor out on Wednesday.  He came back on Thursday to take pictures to put online.  I am waiting for the MLS number to post pics here.  I have not heard back from the realtor though and do not see the house on any MLS search I have access to.  Building a network of people you can trust is extremely important to all aspects of life.  Not to mention that communication is key.  He might be trying to sell the house to clients he has before listing it on MLS or something of that nature.  It might be that my MLS search sites do not update immediately.  Who knows, I do not? 

 I am using the realtor based on recommendations.  Generally that is good and it might prove to be good, time will tell.  I have four realtors in my family that I am not using on this house because of this recommendation, plus the house is a bit outside of their markets.  We will see how this works. 

Anyhow this week is not the best to be putting a house on the market with reports of the housing market slipping 6.7% in October.  I am trying to make money and those types of percentages cut deep into profit and move towards loses.  My lawyer and Realtor have a fixed price, unfortunately I do not.  This is a slow time of year as well for the housing market.  Hopefully I can prove all of this wrong and make some loot.  Will post some pics soon and do updates as I get them.  As of now though the house is for sale and there is not much more for me to do other than wait…  Let me know if you know of a good Raleigh realtor ;)

Popularity: 8% [?]

Posted by LeGo, filed under Flips. Date: December 28, 2007, 3:46 pm | No Comments »

Most people set New Year’s resolutions for themselves.  It is now that time of the year.  The top New Year’s Resolutions are to lose weight, stop smoking, make more money and do more of what they want.  My advice don’t talk about it, be about it.

If you want to stop smoking, stop.  It is that simple.  But on the real, the best thing to do is hustle, and by that I mean find things to do with your life so you are not just sitting around and thinking of smoking all the time.  If you have just hours of time where you are not doing anything, you will dwell on the fact that you are not smoking.  So do stuff.  I recommend finding a way to make some loot, so your mind is focusing on other things and you are making loot. 

If you want to drop weight, do it.  There is this diet that mad people are able to lose weight with, it is an old ancient concept.  What you need to do is eat less and exercise.  You can eat healthy, eat no carbs, drink shakes all day, etc…  But on the real no matter what you do you need to get up, get out and do something.  Be more physical.  Also push back on the food.  If you want some motivation, here are some ideas: watch Survivor (peeps drop weight, doing labor work and eating less works), watch some flicks like 300, Fight Club and the like, check out some websites, like bodyspace and gymjones.  We live in an era where we know how to be fit.  Fast food and binges are not going to get you in shape.  You could also flip houses like I do and get some labor in while making loot. 

If you want more loot, keep reading the blog for motivation.  But basically you have to do it.  There is a quote that I read daily now “If it is to be, it is up to me.”  All the advice and motivation is not going to make you money, you have to put in work.  Hustling with Strategy is one of the best ways to make money.  This next year I will be posting more about ways to hustle and strategies. 

The last goal people have is to do more of what they want to do.  This is a bit hard for some people to accomplish.  I was fortunate enough to have the proper motivation to start doing things.  I did a study abroad and everyone kept telling me it was a “once in a lifetime opportunity.”  I wanted to prove them wrong.  I did not like the phrase “once in a lifetime opportunity.”  I want to be able to do anything I wanted as many times as I wanted.  When people challenge me I try to prove them wrong.  Most peoples goals require money, and that is what holds them back.  Or they hold themselves back.  Don’t just say I want to do x.  Set up the entire plan and put it into action. 

Once you set up a plan you will do more than you ever wanted and have great experiences along the way.  I have been to amazing places by accident on the way to meet other goals.  It is like Sun Tzu said “Opportunities multiply as they are seized.”  Not to mention the journey is half of the experience.  If money is what is holding you back, seems like it is time to hustle a bit.  You need to get to the point where you do not really set goals, you just schedule things and do them. 

 What are your goals and how are you going to accomplish them this year?  If you want some motivation or advice comment and get some guidance from others on the site.  I will be posting my goals for next year over the next few days. 

Popularity: 5% [?]

Posted by LeGo, filed under Motivations. Date: December 26, 2007, 4:21 pm | No Comments »

24  Dec
Happy What Not

Feliz/Happy/Merry, etc…  I gots big things planned for the next year.  House will be on the market this Wednesday.  Should have more time to post this Wednesday.  So far this has been a very busy Holiday.  I went shopping this morning and a few stores were not open until 11.  I am not sure what exactly they were thinking, but for those that wanted gift certificates, you are getting cash.  I was not trying to be in traffic and out during the rush.  I got my shopping done on the web early.  I only had one present not make it.

Popularity: 5% [?]

Posted by LeGo, filed under Uncategorized. Date: December 24, 2007, 3:05 am | No Comments »

So celebs sometimes get the hustle on outside of the job.  50 made $100 mil outside of the rap thing with his investment in vitamin water.  Who knew formula 50 would be worth so much.  George Lucas made $200 mil on a licensing deal with Hasbro for Star Wars toys.  Howard Stern pocketed $82 mil extra from Sirius for meeting subscriber goals.  Seems the merge wouldn’t be necessary if everyone wasn’t banking so much (xm and sirius… and Bubba has to work two jobs).  Jay-Z roughly matched Howard on the sell of Rocawear. 

 Oscar De La Hoya made a nice little chunck of change fighting Floyd, $55 mil.  Mayweather pocketed $25 mil twice, once beating De La Hoya and again beating Hatton.  Get the complete list from forbes

50 Cent

Popularity: 5% [?]

Posted by LeGo, filed under Motivations. Date: December 20, 2007, 8:17 pm | 2 Comments »

20  Dec
Sopranos

Here are some quotes from the Sopranos about The Prince and the Art of War.  Make sure you got those books 

Tony Blundetto: It’s hard to believe. My cousin in the old man’s seat.
Paulie ‘Walnuts’ Gualtieri: It’s like “Sun-Tuh-Zoo” says: a good leader is benevolent and unconcerned with fame.
Tony Blundetto: What?
Paulie ‘Walnuts’ Gualtieri: “Sun-Tuh-Zoo”. He’s Chinese Prince Machiavelli.
Silvio Dante: Tzu, Tzu! Sun Tzu, you fucking ass-kiss!

Tony Soprano:  “Been reading that– that book you told me about. You know, The Art of War by Sun Tzu. I mean here’s this guy, a Chinese general, wrote this thing 2400 years ago, and most of it still applies today! Balk the enemy’s power. Force him to reveal himself. You know most of the guys that I know, they read Prince Machiavelli, and I had Carmela go and get the Cliff Notes once and — he’s okay. But this book is much better about strategy.”

Popularity: 5% [?]

Posted by LeGo, filed under Motivations. Date: December 20, 2007, 3:39 pm | 1 Comment »

19  Dec
Retire Rich?

So I am doing some Christmas shopping last night and I stroll by the magazines.  I was looking for something to motivate me and potentially educate me.  I saw a few magazines in the business section with the cover words “Retire Rich.”  I do not know anyone that would not want to retire rich.  Why not set your goals a little higher.  You do not have much room for error when you wait til the end of your life to reach the “rich” goal.  There is no margin for error. 

 I want to read about “Retire Rich Young” or “Live Rich,” not about waiting til the end.  I want a 5-10 year plan not a 45 year plan.  I guess my goals a little bit different though.  I personally understand compound interest.  It works well in two cases, when you have lots of money or when you have lots of time.  My plan does not start with either.  I do not want to put 10% of my income into a 401K for 45+ years, then have my nut when I retire. 

Here is a song to emphasize my point.  Notice he sings about money in the bank, not in retirement. 

Popularity: 5% [?]

Posted by LeGo, filed under Motivations. Date: December 19, 2007, 3:58 pm | No Comments »

There are the two ways of thinking about money in relation to time.  Most businesses are seasonal and growth is linear.  When thinking of most markets and basic economics you want to buy low and sale high.  One way to enjoy life is to buy a vacation house at a skii resort in March then sell it around November/December.  Basically you will be able to make some loot, enjoy some golf and hit up some vineyards.  Locally and north of here the resorts are really nice during the summer as the climate is great.  I am not really a great skiier so having a summer place to relax is great. 

 What you are doing though is somewhat a bit of reverse logic, you are buying when everyone else is theoretically, as opposed to selling.  Then you are selling during the downtime.  However you are able to take advantage of a specific niche market.  Another way to flip what you heard is by revisiting stocks.  If you are looking at trends you want to buy low and sale high.  But lets say the trend points to a downward spiral, short the stock.  Buy the stock with someone elses money and pay them back when you can get the stocks cheaper.  There really are not many excuses to not making money.

It is good to study and understand what you are doing from all angles.  Knowing how markets relate to time will give you an advantage.  Almost all markets go through cycles.  Profit from all of the cycles not just the obvious ones.  Hustle with strategy and capitalize. 

Popularity: 5% [?]

Posted by LeGo, filed under Strategy. Date: December 18, 2007, 3:38 pm | No Comments »

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