OKIE this aint gonna be easy but does not hurt to try
I am wondering if we can identify some of the most lucrative businesses or money spinners.
Such as
Buying and selling real estate (buit up)
Booking condos and flipping them as soon as they are ready
Creating franchises for ....hmmm lets say samosa outlets !
Import/export
Gas stations
Have you delved in (or heard from Horse's mouth) something and found it generating plenty of moolah?
Quote:Both of these can work well only during times of real estate boom.
Originally posted by GhanChakkarBhai
Buying and selling real estate (buit up)
Booking condos and flipping them as soon as they are ready
As long as you are prepared to change careers if the real estate market is not this hot, it can work well for you.
Also, to avoid capital gains you will have to use each of the properties you buy as your primary residence.
And you will have to have a RE license to avoid paying agent fees.
Quote:Are you looking for a get-rick-quick scheme?
Have you delved in (or heard from Horse's mouth) something and found it generating plenty of moolah?
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Location: Canada-Glorious and Free
Posted on: 11-09-07 10:56:27
Quote:
Originally posted by GhanChakkarBhai
OKIE this aint gonna be easy but does not hurt to try
I am wondering if we can identify some of the most lucrative businesses or money spinners.
There are no money spinners, there is no lucrative business. There is only hard work, commitment, zero-holidays, tight cash flow, late nights, family trade-offs and zero social life. Then you have a chance of making some money. So you are partly right - it is not easy.
Quote:
Originally posted by GhanChakkarBhai
Have you delved in (or heard from Horse's mouth) something and found it generating plenty of moolah?
Yes i have. But you know what - why should I tell you? You could mistake Canadian Desi for a lake but if you wanted to fish, at least you'd put a worm on the hook.
BV
Quote:
Originally posted by pratickm
Quote:Both of these can work well only during times of real estate boom.
Originally posted by GhanChakkarBhai
Buying and selling real estate (buit up)
Booking condos and flipping them as soon as they are ready
As long as you are prepared to change careers if the real estate market is not this hot, it can work well for you.
Also, to avoid capital gains you will have to use each of the properties you buy as your primary residence.
And you will have to have a RE license to avoid paying agent fees.
Quote:Are you looking for a get-rick-quick scheme?
Have you delved in (or heard from Horse's mouth) something and found it generating plenty of moolah?
It is true that flipping real estate can be very helpful towards the bank balance bottomline especially when the market is booming.
There is also speculation that price of gold might appreciate quite a bit as more wealth flows eastword.
realtor profession could be another good one and I know of one part time realtor who has hit it pretty big in 2 years. However it is not my cuppa tea.
Speaking of Booking condos and flipping them as soon as they are ready; I have been told that it involves an initial downpayment, another instalment soon afterwards and then finally paying the final amount at the time of possesion. Since many people do it, does any one have any idea how they pull off the last part (viz take 2nd mortgage for some time and then sell) or is it possible to sell off the condo even before taking full ownership?
Does anyone know for sure?
Please read my posting "NEW BUSINESS WITHOUT INVESTMENT"
I believe it will help you, for sure.
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You can take an Indian out of INDIA
but you cannot take INDIA out of an Indian.
