Not-That-Bright
Andrew Quah
Again, i'm sure they have to work their asses off.
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best way to make your money grow (1 Viewer)
- Thread starter hiphophorray123
- Start date
Not-That-Bright
Andrew Quah
Two Words: Porn Industry..
If you can get into the porn industry, you're bound to make a few bucks... fastest growing industry in the world.
Asquithian i know electricians doing the electrical work basically laying huge cables for that tunnel going under the city, they earn huge bucks...
Oh there u go guys! to earn a shitload while young, work in a mine/offshore gas/oil platform.
If you can get into the porn industry, you're bound to make a few bucks... fastest growing industry in the world.
Asquithian i know electricians doing the electrical work basically laying huge cables for that tunnel going under the city, they earn huge bucks...
Oh there u go guys! to earn a shitload while young, work in a mine/offshore gas/oil platform.
Soma
Toney Starks Fanboy
Some shit lenders will lend 100%, though they have shit rates. Most good banks will lend up to 95% for full doc applications in accepted postcodes.mr_brightside said:
Soma
Toney Starks Fanboy
Plus practically all of them get paid in cash.Asquithian said:
doe
Member
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my dad (who had 50 years in the building industry) told me off when i was a layabout 16 year old and told me to get an apprenticeship in commercial airconditioning. big buildings (think cbd) + summer + broken aircon = teh mega bux, or so he told me, anyway (though maybe he just wanted me out of the house 
).
).Not-That-Bright
Andrew Quah
installing aircon isn't fun :-/ it's like roof tiling but ur IN the roof .
Yeah, housing prices in the CBD do not appreciate very well. So it won't be a place to expect capital growth.Asquithian said:
If you want to invest your cash, setting up a weekly annuity is good, forces you to save.
In regards to the stock market, havent had much experience, but know of a family man who supports his family by trading options overseas.
doe
Member
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hoh if i were really motivated by money id get into waste management. theres a job that wouldnt be fun.
those plants are really advanced though. i saw a documentary on one in sydney where it could provide a portion (all?) of its own power and water off the waste.
those plants are really advanced though. i saw a documentary on one in sydney where it could provide a portion (all?) of its own power and water off the waste.
spin spin sugar
it's gotta be big
plumbing is an excellent trade too, i know a guy who just finished his apprenticeship and already has a house in a decent area... wtf. hes like 23
Not-That-Bright
Andrew Quah
Yea my dad owns a plumbing business along with a few other trades n all the plumbers and that are on great cash, even as apprentices... all get to take home cars n shit, like it's fairly hard work but i'd rate it against fast food any day.
Tho i'd say to STAY employed you can't be a TOTAL idiot.
Tho i'd say to STAY employed you can't be a TOTAL idiot.
SashatheMan
StudyforEver
yeh plumbers get heaps. i would look into that.Not-That-Bright said:
)
hiphophorray123
Banned
so not many people think owning a franchise would be very good?
JoyDivision
Is Big In Japan
Have you thought of putting your money into a Term Deposit? It probably wont make your money GROW, but if you leave it with the National for 11 months, you can get 5.35% paid at maturity which isnt too bad.
If youve got $250,000 in a cheque or savings account, and you dont want to tie your money up for 11 months - you could either go for a shorter time on your T.D or the Cash Management Accelerator Account. Im not sure exactly what the rate is at the moment, I think its something like 3 or 4 % but you have full access to your money. The reason that such a high interest rate is offered on a personal account is because your operate your account by telephone or internet banking, you cant draw money out over the counter or through the flexiteller.
That aside, I think I saw in another thread that you were thinking about Gloria Jean's as a Franchise? According to BRW, it has the second most expensive entry cost in the list of top ten fastest growing franchises (At $400,000 behind Oporto's which is $450,00). Boost Juice was the fastest growing Franchise, with 226.2% turnover growth in 102 outlets with an entry cost of $250,000. If youre interested in purchasing a Franchise, it may be worth you picking up Jan 20-Feb 16th's BRW as it has a big special on Boom Franchises and Direct Selling.
In my opinion, I think you'd be better of putting some money into a Term Deposit to start off with; because -
Cheery.
If youve got $250,000 in a cheque or savings account, and you dont want to tie your money up for 11 months - you could either go for a shorter time on your T.D or the Cash Management Accelerator Account. Im not sure exactly what the rate is at the moment, I think its something like 3 or 4 % but you have full access to your money. The reason that such a high interest rate is offered on a personal account is because your operate your account by telephone or internet banking, you cant draw money out over the counter or through the flexiteller.
That aside, I think I saw in another thread that you were thinking about Gloria Jean's as a Franchise? According to BRW, it has the second most expensive entry cost in the list of top ten fastest growing franchises (At $400,000 behind Oporto's which is $450,00). Boost Juice was the fastest growing Franchise, with 226.2% turnover growth in 102 outlets with an entry cost of $250,000. If youre interested in purchasing a Franchise, it may be worth you picking up Jan 20-Feb 16th's BRW as it has a big special on Boom Franchises and Direct Selling.
In my opinion, I think you'd be better of putting some money into a Term Deposit to start off with; because -
- You only have your money tied up for 11 months, with a fair profit at the end of it. Face it, youre not going to actually LOSE any money at all when you get locked into your interest rate
- At the end of 11 months (or 6 if you choose), you can reassess if you want to purchase property, a business or whatever - or you could just rollover your term deposit and let your funds accumluate more at maturity
- If you have to borrow money to buy a franchise or to purchase property, we have a better environment at the moment for having money than borrowing it. Lending rates are going to go up.
- Its very hard to get a business banking loan, for anybody. There is incredibly fierce competition for business loans, and people are prepared to pay any interest rate in return for backing. Unsecured lending is now completley obsolete.
- Borrowing for inner city apartments and properties are no longer the bank's preferred service as housing prices have come down and there is an excess of supply of city housing. It's pretty hard to get a loan for one of these, especially if it were to be your first loan..
Cheery.
theone123
blue essence
dont dream, you and i know theses are impossible dreams for nowAsquithian said:
theone123
blue essence
$300-uncapped/per hour :uhhuh:Not-That-Bright said:
pete87
New Member
5.25% term deposit at the bank
now THAT'S GROWTH!
now THAT'S GROWTH!
LeftrightOut
Needs more cowbell
If you enjoy working under an aussie built roof when it is 30 degrees outside and closer to 60degrees under it then become an air conditioning installer.
Yes you can buy cheapish apartments and houses still under 1mill with harbour views, I just hope you enjoy renovating or demolishing as soon as you move in. Real Estate agents love putting starting from prices online to entice more people to turn up at auction, a few are starting to get sued for putting an expected price of 1mil on houses that most normal people would put at least 1.4mil on. Also don't forget that you get to pay land tax on your properties, so I hope you never plan on moving out of the place and renting it out. Then you have vendors tax on sale. With property you NEVER own it, stop paying your land tax or rates and see how long the house remains yours.
Forget the term deposit, some of them will hit you hard if you pull out early. Go for an online savings account instead as they have decent %pa and none of the drawbacks of a term deposit. Do a search for citibank or ingdirect or hsbc and you should be able to get more info.
Franchises are a funny beast, I know of a Subway that opened up in a smallish town a few months back and it's struggling. You can be part of a great franchise group but it will not guarantee success.
"Driving a work ute" might look cool but it's really not if you're still paying it off. A lot of tradies make a decent living, some of them struggle, same with almost any opportunity. Don't go looking at only a few examples and go "wow my mate Tom says he makes 100bucks an hour fixing leaking taps" because you don't know the full story, that $100 might be an averaged price per job and includes initital equipment costs, maintenance costs, insurance, and parts. A lot of small business people don't have very good financial skills. Looking financially well off and actually being it are two different things.
Anyone who does something cash in hand might be getting a little more then and there but often they are not covered as well as those who do things by the book and as a result will end up with more than they bargained for should anything go wrong anywhere.
You could try the buy-renovate-sell or develop strategy if you feel like a handyman and can save money. It's not unheard of to get 50%+ return on your money for these kinds of projects. but again you need to know what you are doing.
Yes you can buy cheapish apartments and houses still under 1mill with harbour views, I just hope you enjoy renovating or demolishing as soon as you move in. Real Estate agents love putting starting from prices online to entice more people to turn up at auction, a few are starting to get sued for putting an expected price of 1mil on houses that most normal people would put at least 1.4mil on. Also don't forget that you get to pay land tax on your properties, so I hope you never plan on moving out of the place and renting it out. Then you have vendors tax on sale. With property you NEVER own it, stop paying your land tax or rates and see how long the house remains yours.
Forget the term deposit, some of them will hit you hard if you pull out early. Go for an online savings account instead as they have decent %pa and none of the drawbacks of a term deposit. Do a search for citibank or ingdirect or hsbc and you should be able to get more info.
Franchises are a funny beast, I know of a Subway that opened up in a smallish town a few months back and it's struggling. You can be part of a great franchise group but it will not guarantee success.
"Driving a work ute" might look cool but it's really not if you're still paying it off. A lot of tradies make a decent living, some of them struggle, same with almost any opportunity. Don't go looking at only a few examples and go "wow my mate Tom says he makes 100bucks an hour fixing leaking taps" because you don't know the full story, that $100 might be an averaged price per job and includes initital equipment costs, maintenance costs, insurance, and parts. A lot of small business people don't have very good financial skills. Looking financially well off and actually being it are two different things.
Anyone who does something cash in hand might be getting a little more then and there but often they are not covered as well as those who do things by the book and as a result will end up with more than they bargained for should anything go wrong anywhere.
You could try the buy-renovate-sell or develop strategy if you feel like a handyman and can save money. It's not unheard of to get 50%+ return on your money for these kinds of projects. but again you need to know what you are doing.
