What constitutes a money magnet?

My definition is something that you do or a resource that you own that draws more money to you.

Like all magnets though a money magnet can also repel money from you…..so do be careful.

One of my countries favorite money magnets is Real estate.

This is a classic magnet in that when you own Real Estate you can sense the money, the wealth being drawn to you.
Just like a typical magnet though Real Estate can pretty quickly push money away from you.

If you own Real estate you know how good it can be. You hear the stories of people buying property for $100,000 and selling it for twice that a year or so later.

Your dad tells you about when he could have bought the bit of land down by the beach thirty years ago for $30,000.

We hear all these stories and yet I am sure there are a lot of people right now who wish they have never invested in Real Estate.

Recently a financial planning colleague of mine told me that in the US right now there are 8 million properties that are worth less than the loans that are outstanding on them.

That is incredible.

How does that help a money magnet entrepreneur though.

If you look back through history you will see that Real Estate continues to grow in value, and it will do this again. The smart people are already out looking to purchase more right now.

I have tried to buy 2 new properties over the last week and succeeded in getting one.

Its a great time to buy.

Do be careful however.

My tips for buying in this market are to firstly visit a good mortgage broker and find out exactly how much you can borrow.
Get yourself a pre-approval and maybe even organise a 20% deposit against your home via a line of credit.

When you enter into the bargaining you can now bargain with the best chips possible. You can provide a large deposit and offer cash unconditional.

Using the above technique I often purchase property for up to 30% to 40% under its value and I can get the vendor to give me favorable terms like a long settlement, allowing me to re-list the property before I have to settle on it.

Make sure the property is one that if you do not sell it again works out to be a fantastic long term investment as well.

So thats a pretty simple way of making some great money from one of the worlds best money magnets.

cheers

TP
www.nzpis.com
www.hotpropertyinvestments.co.nz
www.handbags.co.nz
www.sportswear.co.nz
www.moisture.co.nz

All around the world domains are being touted as the latest and greatest money making asset.

Today on Sedo there are sales of a mis-spelt name that sold for $6200US and a .org that sold for $100,000US.

The other big sale was 248.com which sold for $175,000US.

Wow…. I know its not the millions that every one harps on about but I bet those guys didn’t pay anywhere near what they sold them for.

So down in NZ where things are only just starting to get fired up (you can still buy generic one word domains for under $1000) it is really the wild wild west all over again.

Last year Globalsearch.com sold for $67,000US and I have had the .co.nz version for a little while.

Now if we think about how someone could value such a domain things start to get a bit hazy.

You see the USA has somewhere around 300 million people and New Zealand only has 4million people (1.3%).

So does that mean that NZ domains are only worth approximately 1.3% of the .coms?

That would make globalsearch.co.nz worth about $895US however if you think about how Google is structuring their searches these days that price might be a bit undervalued.

You see if someone searches for globalsearch in NZ they are going to find the .co.nz domain first and how much would that be worth to the company who paid $67,000?

.com’s no longer beat the cc/tld’s (thats country top level domain) to the top of the google search pages so maybe the prices here in NZ should go up.

I would certainly sell globalsearch.co.nz for $1500US…maybe even $1200US

Why is it that everybody wants to gove you a great big spiel about what a wonderful secret they have stumbled onto and how they are now going to let you know how to do it too…firstly though you have to pay them $97 no make that $47 or if you click right now its only $17.

Cripes…do you get annoyed by that like I do?

Not only that but if you do purchase you then get the upsell….

Thanks for buying that but before you go any further why don’t you buy this once in a life time opportunity that will never be repeated again.

Man! How annoying!

I guess it works and that is why it is done that way but surely those tactics begin to create mistrust.

I personally never buy anything again from people who do that.

The best method I have seen is Mark Joyners method. He gives you simpleology 101 for free and then absolutely amazes you with the fantastic content that you are just itching to buy his 102 product.

(You can try his system at either of the above two links I recommend 101 as one of the best finds on the internet.)

That is the way to make your customers trust you and then want to come back for more.

In Marks program you get such good content that you can’t help but want more.

With so many of the other programs I am so annoyed at the end of the sales pitch and then the sign up and then the upsell that nearly don’t want it by the end.

Making Money online is not that difficult to understand.

Create a great product, deliver it to the hungry crowd and then watch the money role in.

Unfortunately finding the hungry crowd can be hard and if you use dodgy tactics on the sign up you may scare those few people away.