Guidelines on debt to equity ratios for aspiring real estate investors?
All of this is in triangle investing real estate section.
If you had to do it all over again, would you have gone into real estate instead of indexes? Why/why not?
Either one would have given similar returns since hindsight is 2020 it would be real estate since the leverage over the past decade would have created outsized returns. On a un-levered basis it was similar.
Built my first niche site and it gets about ~ 3000 page views per month.
Niche site -> amazon conversion rate = 14%
Amazon product pages conversion rate = 1%
Last month I sold $167 worth of equipment but made a grand total of $7 in commission…
What should I do with this failed project?
I put months of work into it yet doesn’t even generate enough to pay for hosting
This doesn’t work Becuase your margins are too low.
1) figure out what they are actually buying, make it yourself or find a better resale
Margin
2) if you can’f Make it yourself get it wholesale and resell at 30% retail margin
3) your traffic is not good at all, within a year you should be at 50,000 page views at minimum, means yiu’re Not doing anything to get traffic
I am starting a new online business (dietary supplements). So: no niche, relatively low margin. Will sell my products mainly via Amazon FbA.
Do I start with one product only and see how that goes or do I rather start with 10 or more different products? Amount to be invested does not matter, basically have enough money to start with 20 different products.
Thanks alot!
Never start with a million offerings at one. Start with 1-3 or so, then you can expand. Similar to most businesses you start with a core offering then move out based on customer base/demand.
What you think might be the next logical step could be wrong based on feedback, so always go with core offering first.
Dropshipping for some months. Hitting $6k-7k monthly revenue. Majority of sales are 1 item (foot care niche). I feel like I know market well.
Question: Jump into private labeling by buying product in bulk, OR develop own product and brand centered on that product and niche?
Private label is lower risk, if you think you got it down (the niche) own product
do you have a recommended book or educational resource for skincare?
The best place to go is to a Hollywood dermatologist as they know all the tricks the celebrities use.
In short it’s diet first then various products like dysport/Botox/collagen injections. After that it’s more extreme measures.
Don’t have a book to recommend though as this one is better to see a professional.
do you have any thoughts/experience with Jersey City?
Not much Manhattan is the place to be for city life, lots of people do live out there
To your other question, they are both equally awful.
Hi WSPs
Thanks for this Q & A.
What will you consider as a good profit margin for this e-commerce ? ( 10 % 20 % 30 % … ?)
Solo founder + 1 employee,
Own branded product
Multichannel sales. (proper site 70% FBA 20% and affiliate 10%)
Consumable Item Sale (niche gut supplements 40 euros per unit).
Recurrent consumer.
Total revenue between high 6 figures and low 7 figures
Merci
Knowing nothing but that probably around 25% profit margin. Range of 10% to 35%.
With how competitive the IB and PE industry have become. What soft skills and experiences do you recommend to have an over the top resume to land an internship. First year finance student at UofT.
Same as the past, only difference is it all flows to the good group. If U of T means Texas, we’d shoot for Oil and Gas in your shoes.
It’s much less competitive than 2008-2009 since there were no jobs but standard competition still occurs. Technology positions are more coveted than finance now
All recruiting questions are on this blog, seerch for non-target and Q&A section at the top. Nothing has changed, never will.
Man, switch to Computer Science and you will be set. UT is a top tech school.
Been reading for years here but first comment/question. Followed advice and went TMT IB->VC->Startup sales and now venture-backed CEO.
A lot of “out-dated” content has been removed over the years. Would assume you still have this saved. Care to share selectively?
Not sure what you mean we haven’t really removed anything just harder to find. Don’t have access to old stuff if not on here
I’m 22 years old in IB and I’ve been following your advice as outlined in Efficiency and building out a DCA portfolio and buying VOO and VYM (~1k per month). I also have about 10% (~10k) of my portfolio in crypto (split between BTC and ETH).
My risk appetite is moving toward risk on, if you were in my shoes would you continue to buy the ETFs monthly and use my bonus for crypto? If so, which coins would you invest more in at this point? I’m wondering how to best allocate my funds from work, aside from starting an online business.
Thanks!
Same answer all of those ideas are terrible, since you want to allocate to a business. That’s the highest risk highest return idea 99.9999% of the time.
If you want to go risk on, we would first 1) start a business since everything else will be a drop in the ocean or a spec in outer space in comparison and then 2) after starting something go ahead and invest more but no more than 15% of net worth. Anything beyond that is just too much risk unless you’re an engineer with some sort of an edge.
Thank you!
I’ve set aside $10,000 to invest in the 8 payments/protocols cryptos recommended in Triangle. Do you still recommend this strategy, and is now a “good” time, or better waiting for more declines?
Answered in prior Q&A we’ve been buying this year every month.
Depends on your situation though if it’s funny money you’re willing to lose then go for it. If you need the money definitely don’t. We limit total exposure to 5% or so of net worth.
1) Any words of caution or general view of getting vc money?
2) How do private company investments work? I mean investors usually expect to get their money back through dividends over say 10 years, an exit or somehow else?
Thanks have a nice weekend!
1) never had to get VC money, if you’re under $30M in revenue you can usually find ways to avoid VCs. This is by starting a biz that is profitable day one, most VC money is for items that are unprofitable for long periods like Uber/Lyft with “hope of profits later”. So can’t help here
2) They are usually in 2 forms, 1) preferred dividends where you’re paid on cash flows from the asset or 2) from a sale/IPO where you then exit the entire valuation. Most end up in a sale (to another company)
Biggest growth areas / opportunities on the web for 2019-20 in your opinion?
Never really changes: Diet, skin, muscles, money.
Hasn’t changed in 20 years not sure why it would change today
24 year old late to the game. I make $18/hr working in manufacturing, living paycheck to paycheck. Sales is my goal. Zero experience. Should I still pursue a degree at my age or just throw myself into the fire immediately? I’ve been reading sales books and applying to jobs for a few weeks now. I’m sure they’re taking a look at my resume and throwing it in the bin. Having that piece of paper would help, but that’s another 4 years of my life. End goal is own business, but right now I need to focus on career moves and making more $$$ to build that nest egg and get out of my living situation. So,
A: 28 yo, fresh out of college with <70k student loans in a relatively LCOL midwestern city – Apply for enterprise SAAS.
B: 24 yo, keep reading and start networking, bust ass to get into a sales job now and continue to scale up from there. No student loans, probably a small nest egg built up within 4 years. – Much lower chance of landing enterprise SAAS without degree.
What would you suggest in my situation?
Would go into a community college (2 years) learn a trade. Should make $30-50 an hour, then go into Real estate sales.
Ideally the trade you learn is real estate related so you could then flip homes.
So simple, yet makes so much sense. At $30-50 an hour I could probably make more working in sales, but if my end goal is to own a business then who cares. Get my savings up, work on business on the side. Knowledge in real estate market = potential real estate investing. Time is $, I like this idea. Appreciate it.
good stuff
Forgot to ask. When you say go into real estate sales after learning the trade, are you talking about then becoming a licensed agent?
Doesn’t matter, either fix houses yourself or sell them. Both work
Could your give a ranking for best trades to learn?
What do you think is the best way to become even more obsessed/intrinsically motivated with whatever you want to achieve?
No clue, we have a post that explains how motivation is for losers. Don’t think we’ll ever get an answer to that, we see the pump up videos and those youtube “hype” videos and just laugh at how pathetic regular people are to “enjoy” them. Living it is more fun than reading or watching nonsense all the time.
Then again that’s why the money flows to the top so we hope people continue to “look for motivation” all they will find is a few thousand dollars drained from their bank account and some ridiculous slogan like “Effort over talent!”
Haha – yeah I see so many peers (age 22) quoting GaryVee always talking about “the grind” and “the hustle” on instagram whilst working in retail/as waiters and no education or serious career prospects.
Perhaps “looking for motivation” whether that be external/internal motivation is just another way to procrastinate. I guess maybe either it’s like talent (either you got it or you don’t) or it’s just about making a serious decision and fully accepting the amount of effort that your decision requires.
yep looking for motivation is for certified life long losers.
First time poster here. 24 year old. I made some very bad decision in my early 20s and is now playing catch up. In short, I have minimal work experience and is finishing my Master degree in Finance this May.
I took your advice and went straight into enterprise sales. I got an “internship” for this startup companies selling AI solution in healthcare space. However, 3 weeks in and I feel like this is not what I signed up for, please let me know what you think:
– I’m basically a contractor for the firm and get pay 15% – 20% of sales made (100% commission).
– 3 weeks in and all they assigned me is writing articles for their blog (which they said helps my exposure and get me used to the lingo) + market research and administrative tasks, I have not been exposed to a single cold call/customer.
– All the intellectual property I create while staying at the company is their property as per outlined in the contract (e.g. the articles written).
– This should continue until the end of first month and then I’ll get started on the cold calling/client facing role.
Am I being lenient and scammed for free articles (going against your advice of never working for free) or should I continue to tough it out until the end of first month and see how it goes. Please let me know your input on this. I’m already applying for different jobs but the one I’m holding right now are all 100% commission which I worry my blow up my cashflow statement (I do have cash savings for basic expenses).
This is a life story, repost your question in 3 sentences. Not really possible for us to help you if your employer is giving you a different job function
I took an enterprise sales rep position at a health tech startup that is 100% commission based. However, the job is heavily skewed towards non-revenue generating tasks, with promise that I will advance to revenue generating role after 1 month, so basically right now I’m working for free. Does this basically go against your advice of never working for free?
So there is no question here, unless you have a different opportunity you have to do what you;re being told to do. Thats the downside of being an employee.
If you’re dissatisfied then go find another slot ASAP
Have you guys read AI Superpowers by Kai Fu Lee? If so, do you agree with his assessment of how China stacks up against the US in AI?
Have not read it, our view is China beats the USA in the AI race since they track their citizens much more and have better data. But. Will be two power houses in the field USA and China.
Everytime I am trying something new (ie. business idea, reading about a new subject) I get stressed and overwhelmed because I don’t know what I am doing? Hence, I just stop working on it, because I feel dumb
Any tips on how I can overcome this psychological barrier?
It means you should start one of them stick to it and go all in on it. Until it succeeds or fails. By taking it to the end point you either 1) get money or 2) get actual real life experience to build on
What you’re doing now is not only losing you money but the most valuable asset you have *time*
So… not sure what else to say, like we said motivation is for losers who fail at life so can’t help on the “feel good” answers.
That makes sense!
And I shouldn’t be afraid if the path I choose is a wrong one, right? I think that’s why I am doing more than one thing in order to hedge my bets, but that is a wrong strategy. I should just stick to one path and go all in. To be honest I just afraid to pick the wtong path….
Going to Drexel this fall for Computer Science.
Drexel has a Co-op program where you have 3x 6-month paid internships allowing you to get 1.5 years of job experience as well as no student debt by the time you graduate (5 year program).
With this being said, given the lessons in Efficiency (work your butt off for the first few years after college),
How much does the “early grind” apply to when you’re in college?
What aspects of computer science should I focus on (specific skills to be leveraged into a future business)?
How much time should I allocate for a social life?
This is all covered in efficiency you always have time to go out 2x a week which is more than enough.
We can’t comment on your path because we never did it and don’t know, all that said anything with a real paid internship and no debt is a lot better than debt and no job experience. It looks attractive, and to graduate faster you could simply take summer classes for the worthless courses like humanities, history, etc. that you’ll never use.
long story short sounds like a good plan but take summer classes to graduate at a normal time if possible.
Also, how do I change my profile picture? Where does your website import the picture from?
its linked to your email… put a fake one in if you like
I went the CS path and am on track for 750-1.25M by age 30.
Money and health are my strongest assets, social is the big trap for people in tech. Why? Because logic and getting the one “best” correct answer is emphasized. The rest of life doesn’t quite work like that.
Would not recommend any co-op programs (I know of the Waterloo one) for 2 reasons: 1) 5 years puts you way behind when you can graduate in 3 years and 2) co-op programs make you lazy and settle for lower-tier companies and positions.
Backend/algorithmic/data structures are critical to getting “prestigious” aka high paying tech jobs, but don’t work well for freelancing because your average person doesn’t give a shit what Dijkstra’s is. Perhaps project/entrepreneurship classes might teach you something, but usually you have freeloaders/MBAs who are trying to pad their resumes.
You could try going “full-stack”. Would not go front-end because usually hurts your career, though nobody will admit it.
The one key advice we always give: do 200-300 Leetcode questions. Sad but true. Whatever you learn in school just builds up to acing those.
Equity is a bit trickier than WSPs makes it out to be, my advice would be to beg a VC or startup lawyer to give you an overview. A lot of it can be out of your control. For instance, what if all investors own 2x participating preferred? Some founders won’t even tell you the truth if you ask.
With eventual consistent 6 fig income — my recommendation would be to try AM in college (lower upfront costs) then RE as you qualify for loans (down payments and credit = no problem for tech ppl. and reduction in taxes). This + CS schoolwork + social + job hunting should give you plenty of “early grind”!!
As for social, make tons of quick decisions and as many mistakes as possible in college. Better at 18 than 30! Try an internship abroad or just go on exchange. Going on exchange made me realize how much of a bubble the Valley is…
Great comment would love to hear your view of equity as part of comp in tech given your comments!
I am finishing drafts and releasing a blog site in May.
Goal is to focus on growth, then look at affiliate marketing, collabs and potentially some products.
How did you promote WSP initially to gain the traction it has today? (When I started reading it was pretty advanced.)
No clue, honestly most traffic came from wall street oasis, then after that we slowly pivoted. It was all about twitter for us.
Took your advice on affiliate marketing route last year from March to November. Couldn’t make the money I was looking for.
Been drop-shipping/e-commerce since November and became profitable, but I’m unsure if it’ll turn into anything successful.
Now I understand, sales and copy, funnels and making money through online better,
Should I jump back on the affiliate marketing or keep doing the method I’ve been on for the past six months?
Thanks for the help.
Scale up the one that is working as far as it can go. When revenues flatline then try to go and do something else. No point in switching if one path is growing right now. You’re losing money even thinking about switching back
What do you think of Soho house membership – worth it or not?
Never tried it
Full of people pretending to be succesful
Theoretically you could go there when you have made to have a laugh at the people faking it.
Always a warning light when invited there for meetings with entrepreneurs looking for money. (Best investment was at one of the guys mums kitchen table)
However as a business idea it is brilliant – you take a hotel/run down property: make it “members club” and increase utilization by roughly 400% without increasing costs.
Similar to those “black and white” events for “professionals”. Where all the people who haven’t made it yet gather to say they have made it.
Hey man,
Just wanted to clarify the landing/sales page for an online business (ecomm).
You mention that you should buy traffic to drive it to your sales page. But if your website is a catalog of products (like most people), do you direct it to a landing page first?
The landing page will be using the techniques you mentioned in efficiency (story, testimonial, etc.) and then you have the landing page direct it to your product page on the catalog?
So would it be traffic – > landing page (order here)
or
traffic -> landing page -> catalog page (order here) ?
And the landing page could look like a blog right? so it makes it look more editorial/ less salesly?
Thanks!
Big mess of questions here. In short a landing page is for one offering. Go back and read efficiency there are too many errors here to even address at once.
Copy your competition, one landing page, one offering.
It depends on the price of your item.
I dont have experience with low ticket items having a landing page, I usually just push traffic to the product page (has reviews, copy, good photos, trust signals – the usual page)
High ticket items should definitely be a landing page with long sales copy, testimonials, videos/photos, you know the long form style. Clickfunnels style.
Hi, I’m starting affiliate marketing for skin care and beauty products, targetted at older women.
However, in reading about the longevity market, I see that a lot there’s a lot of tech products – such as wearables. What do you think of agetech, and do you think focusing on these for online affiliates is worth it?
Have not tried to sell those products, they are brand new (the ones we’re thinking you are referring to) so can’t really comment on the profits there.
26 years old, net worth 1.8M, making +1M/year, living in Manhattan. Income is location independent, trading stocks. Do I move to Miami Beach to save 13% per year, even though I love the city?
Sure easy call leave. Miami is just as good as NYC.
What are you trading, and what did you do to learn it? that is some serious profits
1) When to start DCA into crypto?
2) Any changes to the crypto you guys would invest in from Triangle Investing?
Thank you
1) Just own 1-5% of net worth in there and call it a day. Small peas. DCA doesn’t make sense since the position is so small, unless 1% to you is a million bucks.
2) No. Maybe add Z-cash but that’s it.
Do you think crypto arbitrage still works, as mentioned in triangle investing?
I have been noticing some difference in prices of some cryptos lately but looking at the Chinese exchanges that are trading them, I avoid it as it might be a scam.
If you have done arbitrage before, how do you recommend starting with it? Do you make an account with all the exchanges and waiting until you see an opportunity? Any reliable exchange that you have already tried?
Thanks!!
Too many questions for one.
That said it still works, it’s why we laugh at people who “lost money” last year. It means they didnt do any research and likely blindly bought on exchanges. You can still make money by simply moving it.
17yo from UK wanting to go into M&A, what general advice would you have for us under 18s. Efficiency had some outlines for what you should be doing from 18 onwards but I wondered if you had any advice specific to those under 18?
All Wall Street advice is on this blog. At that age you’re just wasting time, better off working any job and saving money than wasting time thinking about 5 years in the future. Reality is it’s determined by 1) your school, 2) your test scores/GPA and then 3) getting an internship. Which is already covered on here in 15+ posts.
Honestly you should actually learn online sales now, will be 100x better return save you time and you’ll be ahead of your peers before you even graduate.
Do any of you guys have hair loss? If so, have you done anything to address it?
Or do you know of anyone that has lost their hair and found a permanent restoration solution for it?
The emotional side in me wants to address it in myself, but the logical side knows that any money used toward this, would be better spent in investments that would lead to my eventual financial freedom. Thanks,
Have not dealt with this, similar story though, either hair replacement, hair plugs, or some rogain stuff if that works.
We do not know of a solution to hair loss beyond those items.
Reality is all the solutions are so cheap it shouldn’t even be a consideration for OP when thinking of how much they’re saving.
Rogaine is less than 200$/yr and a full transplant can be had for 20-40k but this shouldn’t be necessary until 30s+ (maybe top up amounts for much less before that age) and by 30 shouldn’t be a problem to spend that 20-40k
yep.
Choosing a buy-side position: I try to optimise for a) pay b) hours c) applicable skills for running a business, but did not find the right place yet.
PE: Pay in large cap is great, but hours as VP or Director still >60-70h (different for small- mid cap?)
L/S HF: +Pay +hours -uncertainty (many get kicked out after 1y) -skillset not applicable?
Distressed PE or distressed Credit: Pay PE like? Hours slightly better? -worried that skillset is less applicable to running own business compared to PE
Or am I missing something here? Would be great to hear your view on the place to be optimising for money/time and applicable skillset.
Thanks!
Go into private equity if you have a choice. Just google the growth of “active management” and you’ll see some startling and ugly results. Better to go with something that will be around in the future versus rolling the dice.
Roll the dice on a long short after you’re rich, since you won’t have anything to lose.
Workout…
Answer this every Q&A workout unchanged from efficiency.
You guys mentioned being out of the affiliate space for some time, but figure you might still have a pulse on the industry.
What are your thoughts on the current BH affiliate space? Specifically, is it still worth grinding away on the churn and burn nature of it or go straight to launching your own brand?
BH is always going to be there. As usual we advise against it since it’s not sustainable and lower consistency, better to push for something real (your own product) asap.
1.Twitter or IG for social media growth of a nootropics affiliate site? Thinking that target audience is mostly on twitter though IG is “wider”.
2.You guys mentioned not to hire your coworkers (Design, DEV) to help build side projects. What do you recommend instead? Freelance sites like Fiverr? Network? I work with solid talent during the day but saw you guys advise against it.
1) Twitter has terrible conversions, so stick with IG/FB/Google
2) Yeah you never tell your co-workers anything they will stab you faster than even you could imagine. You have to go and find the people for what you need yourself, majority is typically all you until you’re clearing 6 figures profits.
Recently I received an Email from Legendary Email Marketer, Ben Settle, promoting the Nootropic Stack for productivity purposese he’s been taking for over a year now -> Gorilla Mind by Mike Cernovich.
Since taking Fish Oil daily and juicing green leafy vegetables my cognitive function has improved considerably.
I am interested in your upcoming book on Brain Enhancement. Any books/websites/stacks you could pinpoint to, in order to prep for what your tome will bring to the plate?
Quite literally nothing, we don’t take nootropics or any of that stuff.
Almost 24, living with parents, hoarding $. Austin texas
Should I form a LLC with sister and dad and buy a house in a good location, live there to build equity. I would be paying rent to myself and either have a roommate or Airbnb to cover the second half of the mortgage.
So essentially I am not tying up all my cash in the down payment(Splitting with them on down payment) then I am covering the mortgage.
Or just move into a 1k a month apartment. And approach it next year, just don’t want to miss the boat
Austin real estate is insane, 150 people move here a day, houses sell in hours with multiple cash offers competing.
Sure that’s fine but its small fries compared to starting anything real for a second form of income.
Thank You
Anyone else with Real Estate Experience, wanna offer advice?
1. Your favorite dress shoes for when it’s raining hard?
2. Your favorite boots to wear with suits when it snows in the winter?
1) No change due to weather just stay in taxis/ubers
2) wingtips are solid for dress boots
Currently trying to drive traffic to my landing page with a lead magnet. I want to build my email list. I’m planning to create a copywriting course.
I’m tweeting and hash tagging things
Guest posting
Participating in Facebook groups
Releasing a daily updated podcast
Do you have other suggestions for driving free traffic to my landing page? I cannot pay for ads (yet).
This is in efficiency.
If I may reply here because I was in the same position years ago and wasted a lot of time:
Forget about free traffic.
Get a second job if you have to and buy ads with the extra income.
Don’t waste your time searching for free traffic. The only free traffic route that works is SEO, but if you know SEO you know it’s not free at all.
Safest bet -> buy ads and try to get a low CPL
Started an amazon affiliate blog last January. After 11 months of growth, revenues are plateauing. Only affiliate revenue is from amazon, and have tried to look at other affiliate incomes but niche is specific. All traffic is search organic, nothing paid (tried, but not best ROI).
Have debated on looking to go 2 routes:
1) Source my own product to sell within the niche
2) Start a new business with something more consumable (for background, current niche product is something you buy 1-2x a year, but bigger ticket item $100+).
Thoughts?
If page views are over 50K a month go route 1. If lower than that then just go to route 2.
What would recommend ordering at Peter Luger?
No clue here.
1. Not to boost but I’ve been told by many people that I’m one of the most charismatic people they’ve met and I have extremely good social skills. I want to verify that this is a clear signal that points to a career in sales and I should never look back (just want to know if it needs to be toned down a bit).
2. Any tips on how to maintain a happy go lucky personality without coming across as immature in the work place? I’m 22 and people get rubbed the wrong way that I’m smart, can get results at work and be happy/upbeat all the time. With managers I adjust myself accordingly but I know co-workers wouldn’t hesitate to say “xyz shouldn’t be given more responsibility because he’s a goof”.
If I play my cards right, I can get a 100K+ sales job out of grad which only requires 40-50 hours a week (sweet for side biz) but I need to maximize how that hiring manager perceives me. They work on the same floor as me (different department) and their first impression for sure is that I`m “too young“ to be in that role but I know I can change their perception and I can crush that job.
If you get a sales position none of that stuff matters because your numbers will show the results. If you’re aware you’re being seen as a goof stop making so many immature jokes around everyone. Just focus on being more professional and that’s that.
End of that day what you think you’re good at and all that stuff means zero without the sales results.
So get that enterprise sales position and get those numbers up ASAP
What was the answer to the question of what bartering tools you bring to the table when the other person is super rich? You can email me if you don’t want it to be public.
Can’t do it. The answer is obvious though everyone already figured it out. No need to “confirm”
Guess I’ll know in a few years then when I’ve made it.
Bringing in 70%+ of the business, but have to move overseas within 1 years time. Finding someone with the exact same skillset/commitment very difficult (would take 2 people and still won’t do the job the same). Any advice?
Don’t know why this means at all. If you’re moving and it shuts down the biz then you have to hire someone to take over.
Moving overseas to lose 70% of your income is a hard no.
Just to elaborate It’s out of necessity (not by choice). Any experience with managing employees/teams remotely? Video conferencing, etc?
This is beyond the scope as we have no clue what your biz is and how you’re going to try to manage it.
Yes working with remote employees is easy if you’re smart about choosing them but we can’t help beyond this since we have no clue why you would leave in the first place sounds like a horrible idea to be honest
Horrible because if well managed wouldn’t have let this drag on to the last second and would already have a solution, so the whole thing seems off
Also not related to previous question, what starter high end watch do you recommend? (~10-15k range)
Btw WSP is spot on, a lot of this advice makes sense as you go higher. Mid 20’s, running a business, saving 65% of income, investing in a few starter RE units. Don’t stop posting!
Best to get a used higher end watch in that band. Opens up to too many options to choose from.
If new then as standard Rolex
Thoughts on buying rental properties for cheap in cheap areas/states to generate passive income and then keep on rehab/refi –> purchase more to get more properties/cash flow?
Aka a smaller scale of people like Grant Cardone, etc
Or do you prefer to invest in equities/market indexes etc? Thx
Covered in triangle investing.
No change
I know your stance on marriage – aka don’t do it if you’re wealthy or an up-and-coming guy, but what about a long term relationship with a gf that you really like? Do you think it’s too distracting (since it’ll take time away from business generating time, growing, etc).
Been seeing an ex lately and she doesn’t want to be exclusive this time and this soul sucking demon got me going crazy, esp since she wants to see other people. (Maybe you can delete this part if you post this on the board, thx)
Do whatever you want if it impacts your earnings then you have to bail. We do t do these childish things anymore, guys with women problems are just losers in our mind now. Hence why we stopped all of it
Would you rather:
1. grind hard to be an real estate agent (notoriety/popular in local area, can make millions if successful)
2. be a developer / house flipper (lots of down time aka boredom, can still make alot of money and it’s pretty easy)
Thoughts on the best way to have another synergetic biz/job as a developer besides an agent?
Developer since it implies it’s a biz versus just some career making someone else rich.
Long time reader. I remember the days when you posted a mil or two would be plenty. Noticed a trend of your posts heading more towards deca-millionaire status… seems your definition of rich is changing.
What are your thoughts on Felix Dennis saying that getting rich isn’t worth it? Do you ever worry that “sacrificing the time” as he says, might be a fools game?
Asking as someone currently obsessed with getting rich. Worried it’s ruining my happiness.
Yeah once you get to multi-millions decrease work to where you’re thrilled to be doing what you do. Simple as that
Doesn’t mean you make less money, that is where regulars will never understand.
I’m 31 and currently in a software engineering job without equity exposure. Have a chance to take a network marketing gig that sells skin care products. Should I take it to develop my sales skills?
What do you think of network marketing for acquiring sales skills?
Not enough info none of this was relevant.
How much do you make, how much equity, what is the value of the other option in German of equity, what dilution clauses, finally multipl by probability of equity going up in value
Then run the math yourself, asking us says you didn’t do the math. If you do the above it is almost 100% certain you won’t have a question anymore.
Tech job: <50k per year, no stock options
Network marketing: possibly 50-100k selling skin care + expanding downline
I'm asking because I'm decent with tech but not very good and was thinking of developing sales skills on the side. I can use the skills acquired to transition to enterprise in 1-2 years.
Thanks for the reply WSP!
Go with the the second one seems higher paying. Won’t be living paycheck to paycheck anymore
I have done two 4 month internships in the compliance department of a BB bank, and will be graduating university next spring. I have a full time offer in hand and was wondering about your advice.
Due to my specialized skillset, my full time offer right out of university is 80K, and bonuses are typically around 20%. I live in a high COL city. I enjoy the work, it’s standard 9-5, with minimal weekend work.
In 5 years, my role would go upwards to a people manager, and my pay would be around 120K with 25% annual bonus. Maximum 50 hour work weeks. And in 10 years, my pay would cap out at around 150K with 25-50% annual bonus based on performance. Do you guys think I should be pursuing more/better? I enjoy the worklife balance of working in compliance at 50 hours/week so that I can also pursue a side business that can scale and build equity. Thoughts?
This is not a good career path, your earnings are capped
Unless you already have a side business going you MUST go into the recommended careers in efficiency. If you can’t then start an online biz today.
Running an adwords campaign for an online course I built.
Conversions are coming in but slowly. CPC averaging .25cents.
750 clicks. $207 spent. 3 sales on $40 product. 1 refund.
22 people started the checkout process and left their email but abandoned cart.
I’m thinking my copy is not strong enough. What should I do?
Thank you.
Not sure how to help as we don’t know your market. You should test to see if it’s the price if that many people are opting out last second. Also tweak the copy by going through a competitors sales funnel.
This is just the annoying trial and error part of the biz.
It’s for people that need to take a test to start their career path. Young people out of highschool and early-mid 20’s. Examples: GED, bar exam. Test-prep courses basically.
Anymore insight?
Definitely can’t help never sold those products. They are usually high margin (very high) so it has to be marketing/sales funnel issue.
Guidelines on debt to equity ratios for aspiring real estate investors?
All of this is in triangle investing real estate section.
If you had to do it all over again, would you have gone into real estate instead of indexes? Why/why not?
Either one would have given similar returns since hindsight is 2020 it would be real estate since the leverage over the past decade would have created outsized returns. On a un-levered basis it was similar.
Built my first niche site and it gets about ~ 3000 page views per month.
Niche site -> amazon conversion rate = 14%
Amazon product pages conversion rate = 1%
Last month I sold $167 worth of equipment but made a grand total of $7 in commission…
What should I do with this failed project?
I put months of work into it yet doesn’t even generate enough to pay for hosting
This doesn’t work Becuase your margins are too low.
1) figure out what they are actually buying, make it yourself or find a better resale
Margin
2) if you can’f Make it yourself get it wholesale and resell at 30% retail margin
3) your traffic is not good at all, within a year you should be at 50,000 page views at minimum, means yiu’re Not doing anything to get traffic
I am starting a new online business (dietary supplements). So: no niche, relatively low margin. Will sell my products mainly via Amazon FbA.
Do I start with one product only and see how that goes or do I rather start with 10 or more different products? Amount to be invested does not matter, basically have enough money to start with 20 different products.
Thanks alot!
Never start with a million offerings at one. Start with 1-3 or so, then you can expand. Similar to most businesses you start with a core offering then move out based on customer base/demand.
What you think might be the next logical step could be wrong based on feedback, so always go with core offering first.
Dropshipping for some months. Hitting $6k-7k monthly revenue. Majority of sales are 1 item (foot care niche). I feel like I know market well.
Question: Jump into private labeling by buying product in bulk, OR develop own product and brand centered on that product and niche?
Private label is lower risk, if you think you got it down (the niche) own product
do you have a recommended book or educational resource for skincare?
The best place to go is to a Hollywood dermatologist as they know all the tricks the celebrities use.
In short it’s diet first then various products like dysport/Botox/collagen injections. After that it’s more extreme measures.
Don’t have a book to recommend though as this one is better to see a professional.
do you have any thoughts/experience with Jersey City?
Not much Manhattan is the place to be for city life, lots of people do live out there
To your other question, they are both equally awful.
Hi WSPs
Thanks for this Q & A.
What will you consider as a good profit margin for this e-commerce ? ( 10 % 20 % 30 % … ?)
Solo founder + 1 employee,
Own branded product
Multichannel sales. (proper site 70% FBA 20% and affiliate 10%)
Consumable Item Sale (niche gut supplements 40 euros per unit).
Recurrent consumer.
Total revenue between high 6 figures and low 7 figures
Merci
Knowing nothing but that probably around 25% profit margin. Range of 10% to 35%.
With how competitive the IB and PE industry have become. What soft skills and experiences do you recommend to have an over the top resume to land an internship. First year finance student at UofT.
Same as the past, only difference is it all flows to the good group. If U of T means Texas, we’d shoot for Oil and Gas in your shoes.
It’s much less competitive than 2008-2009 since there were no jobs but standard competition still occurs. Technology positions are more coveted than finance now
All recruiting questions are on this blog, seerch for non-target and Q&A section at the top. Nothing has changed, never will.
Man, switch to Computer Science and you will be set. UT is a top tech school.
Been reading for years here but first comment/question. Followed advice and went TMT IB->VC->Startup sales and now venture-backed CEO.
A lot of “out-dated” content has been removed over the years. Would assume you still have this saved. Care to share selectively?
Not sure what you mean we haven’t really removed anything just harder to find. Don’t have access to old stuff if not on here
I’m 22 years old in IB and I’ve been following your advice as outlined in Efficiency and building out a DCA portfolio and buying VOO and VYM (~1k per month). I also have about 10% (~10k) of my portfolio in crypto (split between BTC and ETH).
My risk appetite is moving toward risk on, if you were in my shoes would you continue to buy the ETFs monthly and use my bonus for crypto? If so, which coins would you invest more in at this point? I’m wondering how to best allocate my funds from work, aside from starting an online business.
Thanks!
Same answer all of those ideas are terrible, since you want to allocate to a business. That’s the highest risk highest return idea 99.9999% of the time.
If you want to go risk on, we would first 1) start a business since everything else will be a drop in the ocean or a spec in outer space in comparison and then 2) after starting something go ahead and invest more but no more than 15% of net worth. Anything beyond that is just too much risk unless you’re an engineer with some sort of an edge.
Thank you!
I’ve set aside $10,000 to invest in the 8 payments/protocols cryptos recommended in Triangle. Do you still recommend this strategy, and is now a “good” time, or better waiting for more declines?
Answered in prior Q&A we’ve been buying this year every month.
Depends on your situation though if it’s funny money you’re willing to lose then go for it. If you need the money definitely don’t. We limit total exposure to 5% or so of net worth.
1) Any words of caution or general view of getting vc money?
2) How do private company investments work? I mean investors usually expect to get their money back through dividends over say 10 years, an exit or somehow else?
Thanks have a nice weekend!
1) never had to get VC money, if you’re under $30M in revenue you can usually find ways to avoid VCs. This is by starting a biz that is profitable day one, most VC money is for items that are unprofitable for long periods like Uber/Lyft with “hope of profits later”. So can’t help here
2) They are usually in 2 forms, 1) preferred dividends where you’re paid on cash flows from the asset or 2) from a sale/IPO where you then exit the entire valuation. Most end up in a sale (to another company)
Biggest growth areas / opportunities on the web for 2019-20 in your opinion?
Never really changes: Diet, skin, muscles, money.
Hasn’t changed in 20 years not sure why it would change today
24 year old late to the game. I make $18/hr working in manufacturing, living paycheck to paycheck. Sales is my goal. Zero experience. Should I still pursue a degree at my age or just throw myself into the fire immediately? I’ve been reading sales books and applying to jobs for a few weeks now. I’m sure they’re taking a look at my resume and throwing it in the bin. Having that piece of paper would help, but that’s another 4 years of my life. End goal is own business, but right now I need to focus on career moves and making more $$$ to build that nest egg and get out of my living situation. So,
A: 28 yo, fresh out of college with <70k student loans in a relatively LCOL midwestern city – Apply for enterprise SAAS.
B: 24 yo, keep reading and start networking, bust ass to get into a sales job now and continue to scale up from there. No student loans, probably a small nest egg built up within 4 years. – Much lower chance of landing enterprise SAAS without degree.
What would you suggest in my situation?
Would go into a community college (2 years) learn a trade. Should make $30-50 an hour, then go into Real estate sales.
Ideally the trade you learn is real estate related so you could then flip homes.
So simple, yet makes so much sense. At $30-50 an hour I could probably make more working in sales, but if my end goal is to own a business then who cares. Get my savings up, work on business on the side. Knowledge in real estate market = potential real estate investing. Time is $, I like this idea. Appreciate it.
good stuff
Forgot to ask. When you say go into real estate sales after learning the trade, are you talking about then becoming a licensed agent?
Doesn’t matter, either fix houses yourself or sell them. Both work
Could your give a ranking for best trades to learn?
What do you think is the best way to become even more obsessed/intrinsically motivated with whatever you want to achieve?
No clue, we have a post that explains how motivation is for losers. Don’t think we’ll ever get an answer to that, we see the pump up videos and those youtube “hype” videos and just laugh at how pathetic regular people are to “enjoy” them. Living it is more fun than reading or watching nonsense all the time.
Then again that’s why the money flows to the top so we hope people continue to “look for motivation” all they will find is a few thousand dollars drained from their bank account and some ridiculous slogan like “Effort over talent!”
Haha – yeah I see so many peers (age 22) quoting GaryVee always talking about “the grind” and “the hustle” on instagram whilst working in retail/as waiters and no education or serious career prospects.
Perhaps “looking for motivation” whether that be external/internal motivation is just another way to procrastinate. I guess maybe either it’s like talent (either you got it or you don’t) or it’s just about making a serious decision and fully accepting the amount of effort that your decision requires.
yep looking for motivation is for certified life long losers.
First time poster here. 24 year old. I made some very bad decision in my early 20s and is now playing catch up. In short, I have minimal work experience and is finishing my Master degree in Finance this May.
I took your advice and went straight into enterprise sales. I got an “internship” for this startup companies selling AI solution in healthcare space. However, 3 weeks in and I feel like this is not what I signed up for, please let me know what you think:
– I’m basically a contractor for the firm and get pay 15% – 20% of sales made (100% commission).
– 3 weeks in and all they assigned me is writing articles for their blog (which they said helps my exposure and get me used to the lingo) + market research and administrative tasks, I have not been exposed to a single cold call/customer.
– All the intellectual property I create while staying at the company is their property as per outlined in the contract (e.g. the articles written).
– This should continue until the end of first month and then I’ll get started on the cold calling/client facing role.
Am I being lenient and scammed for free articles (going against your advice of never working for free) or should I continue to tough it out until the end of first month and see how it goes. Please let me know your input on this. I’m already applying for different jobs but the one I’m holding right now are all 100% commission which I worry my blow up my cashflow statement (I do have cash savings for basic expenses).
This is a life story, repost your question in 3 sentences. Not really possible for us to help you if your employer is giving you a different job function
I took an enterprise sales rep position at a health tech startup that is 100% commission based. However, the job is heavily skewed towards non-revenue generating tasks, with promise that I will advance to revenue generating role after 1 month, so basically right now I’m working for free. Does this basically go against your advice of never working for free?
So there is no question here, unless you have a different opportunity you have to do what you;re being told to do. Thats the downside of being an employee.
If you’re dissatisfied then go find another slot ASAP
Have you guys read AI Superpowers by Kai Fu Lee? If so, do you agree with his assessment of how China stacks up against the US in AI?
Have not read it, our view is China beats the USA in the AI race since they track their citizens much more and have better data. But. Will be two power houses in the field USA and China.
Everytime I am trying something new (ie. business idea, reading about a new subject) I get stressed and overwhelmed because I don’t know what I am doing? Hence, I just stop working on it, because I feel dumb
Any tips on how I can overcome this psychological barrier?
It means you should start one of them stick to it and go all in on it. Until it succeeds or fails. By taking it to the end point you either 1) get money or 2) get actual real life experience to build on
What you’re doing now is not only losing you money but the most valuable asset you have *time*
So… not sure what else to say, like we said motivation is for losers who fail at life so can’t help on the “feel good” answers.
That makes sense!
And I shouldn’t be afraid if the path I choose is a wrong one, right? I think that’s why I am doing more than one thing in order to hedge my bets, but that is a wrong strategy. I should just stick to one path and go all in. To be honest I just afraid to pick the wtong path….
Going to Drexel this fall for Computer Science.
Drexel has a Co-op program where you have 3x 6-month paid internships allowing you to get 1.5 years of job experience as well as no student debt by the time you graduate (5 year program).
With this being said, given the lessons in Efficiency (work your butt off for the first few years after college),
How much does the “early grind” apply to when you’re in college?
What aspects of computer science should I focus on (specific skills to be leveraged into a future business)?
How much time should I allocate for a social life?
This is all covered in efficiency you always have time to go out 2x a week which is more than enough.
We can’t comment on your path because we never did it and don’t know, all that said anything with a real paid internship and no debt is a lot better than debt and no job experience. It looks attractive, and to graduate faster you could simply take summer classes for the worthless courses like humanities, history, etc. that you’ll never use.
long story short sounds like a good plan but take summer classes to graduate at a normal time if possible.
Also, how do I change my profile picture? Where does your website import the picture from?
its linked to your email… put a fake one in if you like
I went the CS path and am on track for 750-1.25M by age 30.
Money and health are my strongest assets, social is the big trap for people in tech. Why? Because logic and getting the one “best” correct answer is emphasized. The rest of life doesn’t quite work like that.
Would not recommend any co-op programs (I know of the Waterloo one) for 2 reasons: 1) 5 years puts you way behind when you can graduate in 3 years and 2) co-op programs make you lazy and settle for lower-tier companies and positions.
Backend/algorithmic/data structures are critical to getting “prestigious” aka high paying tech jobs, but don’t work well for freelancing because your average person doesn’t give a shit what Dijkstra’s is. Perhaps project/entrepreneurship classes might teach you something, but usually you have freeloaders/MBAs who are trying to pad their resumes.
You could try going “full-stack”. Would not go front-end because usually hurts your career, though nobody will admit it.
The one key advice we always give: do 200-300 Leetcode questions. Sad but true. Whatever you learn in school just builds up to acing those.
Equity is a bit trickier than WSPs makes it out to be, my advice would be to beg a VC or startup lawyer to give you an overview. A lot of it can be out of your control. For instance, what if all investors own 2x participating preferred? Some founders won’t even tell you the truth if you ask.
With eventual consistent 6 fig income — my recommendation would be to try AM in college (lower upfront costs) then RE as you qualify for loans (down payments and credit = no problem for tech ppl. and reduction in taxes). This + CS schoolwork + social + job hunting should give you plenty of “early grind”!!
As for social, make tons of quick decisions and as many mistakes as possible in college. Better at 18 than 30! Try an internship abroad or just go on exchange. Going on exchange made me realize how much of a bubble the Valley is…
Great comment would love to hear your view of equity as part of comp in tech given your comments!
I am finishing drafts and releasing a blog site in May.
Goal is to focus on growth, then look at affiliate marketing, collabs and potentially some products.
How did you promote WSP initially to gain the traction it has today? (When I started reading it was pretty advanced.)
No clue, honestly most traffic came from wall street oasis, then after that we slowly pivoted. It was all about twitter for us.
Took your advice on affiliate marketing route last year from March to November. Couldn’t make the money I was looking for.
Been drop-shipping/e-commerce since November and became profitable, but I’m unsure if it’ll turn into anything successful.
Now I understand, sales and copy, funnels and making money through online better,
Should I jump back on the affiliate marketing or keep doing the method I’ve been on for the past six months?
Thanks for the help.
Scale up the one that is working as far as it can go. When revenues flatline then try to go and do something else. No point in switching if one path is growing right now. You’re losing money even thinking about switching back
What do you think of Soho house membership – worth it or not?
Never tried it
Full of people pretending to be succesful
Theoretically you could go there when you have made to have a laugh at the people faking it.
Always a warning light when invited there for meetings with entrepreneurs looking for money. (Best investment was at one of the guys mums kitchen table)
However as a business idea it is brilliant – you take a hotel/run down property: make it “members club” and increase utilization by roughly 400% without increasing costs.
Similar to those “black and white” events for “professionals”. Where all the people who haven’t made it yet gather to say they have made it.
Hey man,
Just wanted to clarify the landing/sales page for an online business (ecomm).
You mention that you should buy traffic to drive it to your sales page. But if your website is a catalog of products (like most people), do you direct it to a landing page first?
The landing page will be using the techniques you mentioned in efficiency (story, testimonial, etc.) and then you have the landing page direct it to your product page on the catalog?
So would it be traffic – > landing page (order here)
or
traffic -> landing page -> catalog page (order here) ?
And the landing page could look like a blog right? so it makes it look more editorial/ less salesly?
Thanks!
Big mess of questions here. In short a landing page is for one offering. Go back and read efficiency there are too many errors here to even address at once.
Copy your competition, one landing page, one offering.
It depends on the price of your item.
I dont have experience with low ticket items having a landing page, I usually just push traffic to the product page (has reviews, copy, good photos, trust signals – the usual page)
High ticket items should definitely be a landing page with long sales copy, testimonials, videos/photos, you know the long form style. Clickfunnels style.
Hi, I’m starting affiliate marketing for skin care and beauty products, targetted at older women.
However, in reading about the longevity market, I see that a lot there’s a lot of tech products – such as wearables. What do you think of agetech, and do you think focusing on these for online affiliates is worth it?
Have not tried to sell those products, they are brand new (the ones we’re thinking you are referring to) so can’t really comment on the profits there.
26 years old, net worth 1.8M, making +1M/year, living in Manhattan. Income is location independent, trading stocks. Do I move to Miami Beach to save 13% per year, even though I love the city?
Sure easy call leave. Miami is just as good as NYC.
What are you trading, and what did you do to learn it? that is some serious profits
1) When to start DCA into crypto?
2) Any changes to the crypto you guys would invest in from Triangle Investing?
Thank you
1) Just own 1-5% of net worth in there and call it a day. Small peas. DCA doesn’t make sense since the position is so small, unless 1% to you is a million bucks.
2) No. Maybe add Z-cash but that’s it.
Do you think crypto arbitrage still works, as mentioned in triangle investing?
I have been noticing some difference in prices of some cryptos lately but looking at the Chinese exchanges that are trading them, I avoid it as it might be a scam.
If you have done arbitrage before, how do you recommend starting with it? Do you make an account with all the exchanges and waiting until you see an opportunity? Any reliable exchange that you have already tried?
Thanks!!
Too many questions for one.
That said it still works, it’s why we laugh at people who “lost money” last year. It means they didnt do any research and likely blindly bought on exchanges. You can still make money by simply moving it.
17yo from UK wanting to go into M&A, what general advice would you have for us under 18s. Efficiency had some outlines for what you should be doing from 18 onwards but I wondered if you had any advice specific to those under 18?
All Wall Street advice is on this blog. At that age you’re just wasting time, better off working any job and saving money than wasting time thinking about 5 years in the future. Reality is it’s determined by 1) your school, 2) your test scores/GPA and then 3) getting an internship. Which is already covered on here in 15+ posts.
Honestly you should actually learn online sales now, will be 100x better return save you time and you’ll be ahead of your peers before you even graduate.
Do any of you guys have hair loss? If so, have you done anything to address it?
Or do you know of anyone that has lost their hair and found a permanent restoration solution for it?
The emotional side in me wants to address it in myself, but the logical side knows that any money used toward this, would be better spent in investments that would lead to my eventual financial freedom. Thanks,
Have not dealt with this, similar story though, either hair replacement, hair plugs, or some rogain stuff if that works.
We do not know of a solution to hair loss beyond those items.
Reality is all the solutions are so cheap it shouldn’t even be a consideration for OP when thinking of how much they’re saving.
Rogaine is less than 200$/yr and a full transplant can be had for 20-40k but this shouldn’t be necessary until 30s+ (maybe top up amounts for much less before that age) and by 30 shouldn’t be a problem to spend that 20-40k
yep.
Choosing a buy-side position: I try to optimise for a) pay b) hours c) applicable skills for running a business, but did not find the right place yet.
PE: Pay in large cap is great, but hours as VP or Director still >60-70h (different for small- mid cap?)
L/S HF: +Pay +hours -uncertainty (many get kicked out after 1y) -skillset not applicable?
Distressed PE or distressed Credit: Pay PE like? Hours slightly better? -worried that skillset is less applicable to running own business compared to PE
Or am I missing something here? Would be great to hear your view on the place to be optimising for money/time and applicable skillset.
Thanks!
Go into private equity if you have a choice. Just google the growth of “active management” and you’ll see some startling and ugly results. Better to go with something that will be around in the future versus rolling the dice.
Roll the dice on a long short after you’re rich, since you won’t have anything to lose.
Workout…
Answer this every Q&A workout unchanged from efficiency.
You guys mentioned being out of the affiliate space for some time, but figure you might still have a pulse on the industry.
What are your thoughts on the current BH affiliate space? Specifically, is it still worth grinding away on the churn and burn nature of it or go straight to launching your own brand?
BH is always going to be there. As usual we advise against it since it’s not sustainable and lower consistency, better to push for something real (your own product) asap.
1.Twitter or IG for social media growth of a nootropics affiliate site? Thinking that target audience is mostly on twitter though IG is “wider”.
2.You guys mentioned not to hire your coworkers (Design, DEV) to help build side projects. What do you recommend instead? Freelance sites like Fiverr? Network? I work with solid talent during the day but saw you guys advise against it.
1) Twitter has terrible conversions, so stick with IG/FB/Google
2) Yeah you never tell your co-workers anything they will stab you faster than even you could imagine. You have to go and find the people for what you need yourself, majority is typically all you until you’re clearing 6 figures profits.
Recently I received an Email from Legendary Email Marketer, Ben Settle, promoting the Nootropic Stack for productivity purposese he’s been taking for over a year now -> Gorilla Mind by Mike Cernovich.
Since taking Fish Oil daily and juicing green leafy vegetables my cognitive function has improved considerably.
I am interested in your upcoming book on Brain Enhancement. Any books/websites/stacks you could pinpoint to, in order to prep for what your tome will bring to the plate?
Quite literally nothing, we don’t take nootropics or any of that stuff.
Almost 24, living with parents, hoarding $. Austin texas
Should I form a LLC with sister and dad and buy a house in a good location, live there to build equity. I would be paying rent to myself and either have a roommate or Airbnb to cover the second half of the mortgage.
So essentially I am not tying up all my cash in the down payment(Splitting with them on down payment) then I am covering the mortgage.
Or just move into a 1k a month apartment. And approach it next year, just don’t want to miss the boat
Austin real estate is insane, 150 people move here a day, houses sell in hours with multiple cash offers competing.
Sure that’s fine but its small fries compared to starting anything real for a second form of income.
Thank You
Anyone else with Real Estate Experience, wanna offer advice?
1. Your favorite dress shoes for when it’s raining hard?
2. Your favorite boots to wear with suits when it snows in the winter?
1) No change due to weather just stay in taxis/ubers
2) wingtips are solid for dress boots
Currently trying to drive traffic to my landing page with a lead magnet. I want to build my email list. I’m planning to create a copywriting course.
I’m tweeting and hash tagging things
Guest posting
Participating in Facebook groups
Releasing a daily updated podcast
Do you have other suggestions for driving free traffic to my landing page? I cannot pay for ads (yet).
This is in efficiency.
If I may reply here because I was in the same position years ago and wasted a lot of time:
Forget about free traffic.
Get a second job if you have to and buy ads with the extra income.
Don’t waste your time searching for free traffic. The only free traffic route that works is SEO, but if you know SEO you know it’s not free at all.
Safest bet -> buy ads and try to get a low CPL
Started an amazon affiliate blog last January. After 11 months of growth, revenues are plateauing. Only affiliate revenue is from amazon, and have tried to look at other affiliate incomes but niche is specific. All traffic is search organic, nothing paid (tried, but not best ROI).
Have debated on looking to go 2 routes:
1) Source my own product to sell within the niche
2) Start a new business with something more consumable (for background, current niche product is something you buy 1-2x a year, but bigger ticket item $100+).
Thoughts?
If page views are over 50K a month go route 1. If lower than that then just go to route 2.
What would recommend ordering at Peter Luger?
No clue here.
1. Not to boost but I’ve been told by many people that I’m one of the most charismatic people they’ve met and I have extremely good social skills. I want to verify that this is a clear signal that points to a career in sales and I should never look back (just want to know if it needs to be toned down a bit).
2. Any tips on how to maintain a happy go lucky personality without coming across as immature in the work place? I’m 22 and people get rubbed the wrong way that I’m smart, can get results at work and be happy/upbeat all the time. With managers I adjust myself accordingly but I know co-workers wouldn’t hesitate to say “xyz shouldn’t be given more responsibility because he’s a goof”.
If I play my cards right, I can get a 100K+ sales job out of grad which only requires 40-50 hours a week (sweet for side biz) but I need to maximize how that hiring manager perceives me. They work on the same floor as me (different department) and their first impression for sure is that I`m “too young“ to be in that role but I know I can change their perception and I can crush that job.
If you get a sales position none of that stuff matters because your numbers will show the results. If you’re aware you’re being seen as a goof stop making so many immature jokes around everyone. Just focus on being more professional and that’s that.
End of that day what you think you’re good at and all that stuff means zero without the sales results.
So get that enterprise sales position and get those numbers up ASAP
What was the answer to the question of what bartering tools you bring to the table when the other person is super rich? You can email me if you don’t want it to be public.
Can’t do it. The answer is obvious though everyone already figured it out. No need to “confirm”
Guess I’ll know in a few years then when I’ve made it.
Bringing in 70%+ of the business, but have to move overseas within 1 years time. Finding someone with the exact same skillset/commitment very difficult (would take 2 people and still won’t do the job the same). Any advice?
Don’t know why this means at all. If you’re moving and it shuts down the biz then you have to hire someone to take over.
Moving overseas to lose 70% of your income is a hard no.
Just to elaborate It’s out of necessity (not by choice). Any experience with managing employees/teams remotely? Video conferencing, etc?
This is beyond the scope as we have no clue what your biz is and how you’re going to try to manage it.
Yes working with remote employees is easy if you’re smart about choosing them but we can’t help beyond this since we have no clue why you would leave in the first place sounds like a horrible idea to be honest
Horrible because if well managed wouldn’t have let this drag on to the last second and would already have a solution, so the whole thing seems off
Also not related to previous question, what starter high end watch do you recommend? (~10-15k range)
Btw WSP is spot on, a lot of this advice makes sense as you go higher. Mid 20’s, running a business, saving 65% of income, investing in a few starter RE units. Don’t stop posting!
Best to get a used higher end watch in that band. Opens up to too many options to choose from.
If new then as standard Rolex
Thoughts on buying rental properties for cheap in cheap areas/states to generate passive income and then keep on rehab/refi –> purchase more to get more properties/cash flow?
Aka a smaller scale of people like Grant Cardone, etc
Or do you prefer to invest in equities/market indexes etc? Thx
Covered in triangle investing.
No change
I know your stance on marriage – aka don’t do it if you’re wealthy or an up-and-coming guy, but what about a long term relationship with a gf that you really like? Do you think it’s too distracting (since it’ll take time away from business generating time, growing, etc).
Been seeing an ex lately and she doesn’t want to be exclusive this time and this soul sucking demon got me going crazy, esp since she wants to see other people. (Maybe you can delete this part if you post this on the board, thx)
Do whatever you want if it impacts your earnings then you have to bail. We do t do these childish things anymore, guys with women problems are just losers in our mind now. Hence why we stopped all of it
Would you rather:
1. grind hard to be an real estate agent (notoriety/popular in local area, can make millions if successful)
2. be a developer / house flipper (lots of down time aka boredom, can still make alot of money and it’s pretty easy)
Thoughts on the best way to have another synergetic biz/job as a developer besides an agent?
Developer since it implies it’s a biz versus just some career making someone else rich.
Long time reader. I remember the days when you posted a mil or two would be plenty. Noticed a trend of your posts heading more towards deca-millionaire status… seems your definition of rich is changing.
What are your thoughts on Felix Dennis saying that getting rich isn’t worth it? Do you ever worry that “sacrificing the time” as he says, might be a fools game?
Asking as someone currently obsessed with getting rich. Worried it’s ruining my happiness.
Yeah once you get to multi-millions decrease work to where you’re thrilled to be doing what you do. Simple as that
Doesn’t mean you make less money, that is where regulars will never understand.
I’m 31 and currently in a software engineering job without equity exposure. Have a chance to take a network marketing gig that sells skin care products. Should I take it to develop my sales skills?
What do you think of network marketing for acquiring sales skills?
Not enough info none of this was relevant.
How much do you make, how much equity, what is the value of the other option in German of equity, what dilution clauses, finally multipl by probability of equity going up in value
Then run the math yourself, asking us says you didn’t do the math. If you do the above it is almost 100% certain you won’t have a question anymore.
Tech job: <50k per year, no stock options
Network marketing: possibly 50-100k selling skin care + expanding downline
I'm asking because I'm decent with tech but not very good and was thinking of developing sales skills on the side. I can use the skills acquired to transition to enterprise in 1-2 years.
Thanks for the reply WSP!
Go with the the second one seems higher paying. Won’t be living paycheck to paycheck anymore
I have done two 4 month internships in the compliance department of a BB bank, and will be graduating university next spring. I have a full time offer in hand and was wondering about your advice.
Due to my specialized skillset, my full time offer right out of university is 80K, and bonuses are typically around 20%. I live in a high COL city. I enjoy the work, it’s standard 9-5, with minimal weekend work.
In 5 years, my role would go upwards to a people manager, and my pay would be around 120K with 25% annual bonus. Maximum 50 hour work weeks. And in 10 years, my pay would cap out at around 150K with 25-50% annual bonus based on performance. Do you guys think I should be pursuing more/better? I enjoy the worklife balance of working in compliance at 50 hours/week so that I can also pursue a side business that can scale and build equity. Thoughts?
This is not a good career path, your earnings are capped
Unless you already have a side business going you MUST go into the recommended careers in efficiency. If you can’t then start an online biz today.
Running an adwords campaign for an online course I built.
Conversions are coming in but slowly. CPC averaging .25cents.
750 clicks. $207 spent. 3 sales on $40 product. 1 refund.
22 people started the checkout process and left their email but abandoned cart.
I’m thinking my copy is not strong enough. What should I do?
Thank you.
Not sure how to help as we don’t know your market. You should test to see if it’s the price if that many people are opting out last second. Also tweak the copy by going through a competitors sales funnel.
This is just the annoying trial and error part of the biz.
It’s for people that need to take a test to start their career path. Young people out of highschool and early-mid 20’s. Examples: GED, bar exam. Test-prep courses basically.
Anymore insight?
Definitely can’t help never sold those products. They are usually high margin (very high) so it has to be marketing/sales funnel issue.