Lordpip.com

Well, what have I been up to so long that I haven't posted? Lets see, just finished a summer acting at Shakespeare by the Sea, and launch my new web site. http://www.lordpip.com/ . I have been researching real estate and passive income for several months. Looking  towards my trading goals I have created a site to foster a culture of forex trading which is steeped in stop loss orders. I am hoping to attract people who can make money trading. My goal is train, learn myself and participate in a group of successful traders who take forex trading seriously with out swinging for the fences and yet enjoy the thrill of the world's biggest zero sum game. Since this is a personal journey blog, I'll let you know that cash flow is still an issue but I do feel like I am working towards my goal. No land in the Caribbean yet but I wasn't thinking I be there yet either. 

I was trying to put together my first real estate deal today when I thought a bit about where I have come since the last post. I am very happy with LordPip so far, I proud it is a small and going venture. Some how it felt right to recommit to my goals today. If you get a chance check out http://www.lordpip.com/

Day 50 to 82

What were you excepting a daily blog? I was but here is the thing.  I am still trying to make enough to cover the bills.  No one wants to read about that, or write about it for that matter. Still there has be some little progress other then the disheartening realization you were right about the euro and had you had money you might be a little rich from trading. Still baby steps. It has been close to 2 weeks of not smoking now. That's right no smoking. This is a huge deal for me and if I can continue the money and heath benefits will be huge.  Cold turkey after a thousand retries and retries since day 50. This will be an over 25 year habit I am kicking. Two weeks = 140 bucks saved, which I spent on bills. (sigh). Crazy luxuries like food for my child and rent for the house.  The  old saw about stop drinking capachinos and become a millionaire doesn't work if you don't have any extras to start with. I am still Breakfast King for the family every morning when I am not doing a graveyard shift, quitting smoking, and start a summer season at Shakespeare at the Sea tomorrow.  I ain't rich yet but I am healthier so far.

Day 36 to 50

I know it seems like a long time before stopping by. I have yet to save enough to open a micro account yet and the currency world runs a mock with the Greek debt fire burning through the foundations of the Euro. Lord I need some cash soon to short the Euro and then re buy in a year or two depending on if Spain or Ireland pops too. I feel some what annoyed at not being able to set some cash aside even with spending as little as possible.  Still I landed a nice summer stock gig all summer performing Shakespeare should do the heart and brain good. It will pay as much or a little more then all my odd jobs combined so not loss but little gain. The plan is to quit smoking this summer. Three months is 900 bucks saved which then must be placed into a micro account for currency trading. So the start hinges on the quiting smoking as it is my only expsnese beyond the most basics and likely I will need the air for the words. I need to sneak in some paper trading with week coming up while learning lines , doing a job or two and caring for the wee one and maybe a post mid week.  Money is jumping crazy up and way down with all the markets this week! I can't wait to surf some trends.

Day 35 to 36

I have made a odd realization. I know that smoking is bad for me, no brainer , but what I have just learn is quite an eye opener. I have tried to quit for what seems to be decades now and was successful once for a 2 year period smoke free  and I won't bother you with the reasons for the idiot choice for starting again some five years ago. I have however found by tracking my trades and trying to remember my mind set on the day that smoking effects my emotional response to money. Okay that seems weird. But on weeks I am smoking and more heavily I get angry and react to the market personally. On weeks I am light or smoke free I react much calmer and have a positive outlook and positive return on investment. I have now even an other reason to quit besides all the obvious in your face ones. So tomorrow I quit. One of the first things I did to change my outlook on the world and step towards my goals was to get up on days I am not working the graveyard shift and make my wife and daughter breakfast. It means our mornings are smoother and I can enjoy the family before the day starts. It was a direct response to my goal stated on the first day of the blog  to have a healthy breakfast ( okay not in the Caribbean yet) so my family can start each day ready for what ever challenges we might face. It has been great and we are all healthier because of it, plus it turns out I really like doing it. Now quiting smoking is an other tangible goal I thought unrelated to money ( okay they cost allot), which must happen it seems if I am going to be a successful currency trader. (for me anyhow smoking makes me closer to my anger).
I am not sure how rich I can get by this process but it has likely already added years to my life and my quality of life as benefited hugely. Not bad for only day 36, just not the things I thought they would be.  I want wealth but if I find happiness and better health on the way , so be it. I  guess all things are related.

Day 27 - 34

 I have now included weekends in my day count, not really important but , just saying. Tons of work work these last few days, however I got a chance to work a bit on the business before I take off to a graveyard shift tonight.  I had a general idea but no real path to follow other then I want to trade currencies for my full time job down the road.  I have since been studying on free resources and open a couple of demo accounts in the forex market and one tiny real one.  It turns out a good path is to trade for a couple of years with money you don't have to eat with and build up a trade sheet with a nice return on it. From there you can then find clients who will let you trade with their money which can boost the capital pool to an amount where real wealth can be achieved.  This is its self seems a small realization but it has cleared a nice route for me in my mind  and I was able to get a web site idea started as well as a business plan started with this goal in mind. I need to find out if I have to take and pass the Canadian  Securities Course to trade for other people (I'm pretty sure I would). I need to find out about then getting registered at joint stocks, but all in its own time. First I have to raise more capital to open a decent trading account to work from and pick the right trading platform for myself.  There is one place which I have a real account (tiny) and an other which I would love to work with but their minimum is larger then my wallet yet. I think the oddest and neatest thing so far in my tiny first steps is people from Cyprus or Geneva are calling me to talk trading platforms. (If you open a demo account they make a sales call).  Still, today just before supper I said, " I'll be right there honey I'm on the phone with my broker in Geneva."  This from a guy who counts the beer in the fridge to see if he can make the six pack last to the weekend.

Day 20 - 27

Working and Working. I can't seem to makes enough to cover my nut working around the clock and it leaves me no time for the business. I am not sure how to crack this one. The idea is work one job in the day and the business at night. I have four part time jobs eating my entire time and a cranky family and also a decision to make about yet an other job as a card dealer which will not be flexible on a two week training which lands now on a a day I am acting in a movie. This could be a decent job in the winter when the acting slows down, but if I turn down the day on set I could kill my rep as an actor in a small market.  I want to trade, I would be good and yet I am not sure how to arrive there.  Argggg. Too many ball in the air and yet it feels I need more.

Day 19 - Options

Options but not the market kind.  A new job might take training I can't miss over a two week period in which I have a small speaking role for one day on a movie.  The job pays well, well enough I should take it to help with the living expenses, but it would kill the acting role which is part of the investment plan.  I need to weight my options here. The job could last for a long time and make a pretty big difference. The movie role would be an other credit and pays stupid well but only of a day or two. I wont give numbers but roughly one day on the movie is about a months work on the job for me, but the movie ends in a day or two and the job could provide good income for years (Five for sure :) ), in fact there is good flexibility in the job once the mandatory two week training section is done.  I have an other day on a set tomorrow and some personal budgets to finally finish if I don't get home too late.  I am willing to work and willing to invest, but lord I hate making decisions like take this job or short but nicely paying acting gig. Oddly enough making a decisions related  to risk ( risk management at all times ) money in poker and Forex market are easy for me. Yep trading was the right choice I just got to  figure out how to get the capital. Acting or Working , or some how both ( I need both to raise enough money if the gods of schedules will just let me)

Day 17 and 18 - Working da Jobs and Thinking da Business

Worked a TV show last night and tonight I am doing one of my joe jobs, Oh the glamor of a 46 year old  day player. On a completely unrelated note, I love trading, love it, I am not sure how good I am yet. We will shall with my somewhat dubious sell of EUR/USD with a weekend hold. I thank God for stop limits. I can only wait and see if the mighty greenback rises over Easter. Trading and learning about trading takes up most of my free time which is fine, after all it is my new career. I think I have found away to add beyond the eBay sales to the trading account. ( Likely you should find my nutty flow chart entry if I have lost you here, its my road to passive income) I might just partner up with my forex platform.  Sell the very platform I trade on. I think if I slap an big old ad on my car for the new web site I can then write the expenses off, I should check that out and see what else I might be able to write off. I also need to still get my budgets in order and make some hard choices. I have had more offers of work and it is  all part time. So do I trade jobs , triple up and fight schedules or hold out for that flexible full time job (which hasn't arrived yet)  which will allow me some little time off for acting and night school teaching.  I really want to focus on that goal of sunny property, little to no  financial stress, good breakfast for my and the family, plus  I am still willing to work to help keep it going. I don't really think I will lose interest in trading or acting so why stop and both make my happy and a little richer again why with the stopping. Please just no rent at 50 % income or eating cat food at 60. But now, Easter is time for family, food, and a little web site hunting for my idea for an extra stream for my forex trading account. Only one Graveyard shift to go before four days of Family and Food. Cheers

Day 16 - First Focus Loss

I really do have a attention problem and have noticed today I did very little though I had plenty of time to do more then normal today.  OK I haven't smoked in a week and had a killer head ache but I need to push through I think.  So lazy , in pain and still kicking a brutal habit, well it could be worst.  Tomorrow I am shooting a small role for a cable show but not until the late afternoon. So I will get my budget done in the morning and get the item I photographed for eBay on line and place a trade or two in my Forex account in the morning. I might revisit my goals and images again to remind myself of the goal here.

Day 15 - A Fresh Monday and some Forex Info

I made a basic flow chart for the passive income stream goal. I found an awesome forex training site at informedtraders channel on U tube.  I need to source some better charts for gold and EUR\USD mostly. Job needs more hours, entertain business is chugging along with a couple of bookings and I need to take the little profit from selling a chess board ( which I had oddly enough tried to give away to a friend but they demanded to pay) and use that cash for shipping  some  old garage sale finds up on ebay and then into the forex account with the net.

Day 14 - Gold on Forex

I will being starting with gold and some EUR/USD trading mostly, to learn my charts etc. I have taken a small hit in my trading income but the immediate future looks good for a small and first growth in my tax free saving s account and a small options play for a cash high tech company with dividends like IBM.
I am also putting a gold price chart on the blog because it will be my trading venue for now. I think there is some great potential to learn on the way up (gold) over the next six months to a year and nice profit on the way down later. There might be a nice correlation play with USD\CAD mimicking that movement as well.

Day 12 and 13 - Well I Wanted More Work for Cash

Worked and worked some more. Landed a small role in a TV show (Day player). So tomorrow I need to check up on Forex study, and budget issues. I am sad that there hasn't been enough time to focus but one of the things I need to get was capital so I am slowing solving that issue I guess.

Day 11 - Forex is better then Poker

Hush now but it is true and I wont change my mind until I can place a stop loss order on big slick pre-flop in a no limit game. I have been doing a few forex lessons and trading for real in the money exchange for two whole days and I got to say so far I really like it. It suits me, of course I have made money in the last two days. Pennies really (no really pennies I have the micro of micro accounts) but cool none the less. I ended up working a lot this weekend so I got some cash coming in and taught To night so the business also got a small capital shot to help fuel the investments. I need to still do the pretty version of the income flow charts and will do them tomorrow. I shall sleep and dream of cute little pips pipping in pipland.

Day 10 - Friday and the Weekend Approaches

From Yesterday's list I have
1. Opened small( micro mini) forex account and made 44 cents.
2. Though I didn't fill them out yet I created the templates for my personal budget and business budget/cash flow sheets.
3. I ate some roast chicken
4. No full-time day job yet but I have a couple of shifts over the weekend in one of my part-time thangs.

I think as not to burn out I will keep the this blog weekend free ( though I will still be working towards my goals). I have found a great series of U tube market lessons which I am going to do three and four a day of. I need to draw out my investment plan and choose which cash flow will start to fill my Tax free savings and Daughters Education (likely this will be the day job because my acting and investments should feed and build on them selves for a while.)
How will I do all this you ask? I know I have been thinking about that myself. Quit the day job as soon as possible (once I get it and work it a year or two first hehe) but until then make sure all my investment and currency picks have a stop limit on them and a well chosen profit taking point. Teaching is at night and acting for TV and Film is only once in a long while but pay really well. Early morning for research and writing BUT as much as possible the weekends for my family, having said that it is Friday Afternoon and I am getting ready for a beer-less barbecue because I am working the night shift. Working Saturday too.
I will leave you with this though. I like trading, I can't wait to open my options and stock account now that the currency account is up and running. (in a very tiny and conservative way so far). Two days of action and already I have a fair amount done and today seemed some what lazy really.
This weekend is for
1. More Research
2. Do some Pips schooling ( I'm a baby currency trader now, how frigging quick was that?)
3.Fill out cash flow reports
4. Flow chart of investment ideas
5. Most importantly try to make a good breakfast for my family on non night shift days and have some good time with my daughter.

See ya Monday " If you want to be happy... be happy" The Dalai Lama

Day 9 - What Now?

Today I wrote up three new class descriptions that I might be able to sell if I can get enough students. This was an obvious first step in increasing revenue from the acting business to feed into the investments. I did some more paper trading and learn more about the Forex Markets at a neat site called Baby Pips. I need to make the personal budget up and really separate the business moneys from the personal. I also need to get a more steady income then my huge basket of variable part time jobs so I can meet my personal needs with out stress and focus the extra money from the entertainment business to be made for the investments. I have a fairly good idea how I want the investments to run and will outline that soon. I also opened a tax free retirement account (these are very cool!) and set up a time to get some education savings in place for my daughter ( the government kicks in if you open one , cool!).
Tomorrow ,look for steadier work, make a personal budget, open a micro trading account if I have enough , other wise will sell a few more things on eBay to pump up the pay pal account and eat chicken (cause I feel like it).

Day 8 - And the Winner is? Business and Market Investor

Entertainment Business and Market Investor.
I have spent the little free time I have had in the last couple of days thinking about this choice. With out meaning to or making a conscious choice I have filled my time watching BNN and paper trading currencies. I have been day dreaming about options as a method to buy high yielding dividend stock, etc. I didn't dream about a single house or spend much time looking into venture parntership deals, or who I might try and approach to get capital to go in with me on my first deal. I know I have a short attention span when it comes to some things I am not passionate about. As a market Investor I would be activity searching for new trade ideas and options everyday (though other then Forex I likely will tend towards longer positions then day trading and micro trading). I have a small amount of self taught knowledge and took a half credit at university last year in economics for fun. Ironically that's all I could afford. I am not however making this choice completely blind and this somewhat odd, speculative, and non traditional approach (for my background with no traditional business education) actually fits not only my personality but interests. I was a semi pro poker player and it is still a small hobby ( captnpoppy.blogspot.com) so the idea of carving an edge in a world of imperfect knowledge is something I have been banging around in for at least five years.
So dear readers, if any, this is my path and my start. Yours will be different but hopefully the way I am trying to find mine will speak to you finding yours. Again I am not selling a thing here. This is a personal journey in trying to achieve some independence from jobs and a life time of excellent breakfasts gone public. (Honestly I am saving on paper for a vision board and daily goals journal by blogging this and I am using this public form to push myself to try and accomplish some thing towards the goal every day.)
Ta Da
OK whats next?
1. Personal Budget to find out where I am. (I kind of know and it ain't great)
2. Separate the Personal from the Business - Banking etc.
3. Define the business (both the acting and then the Investment from that income)
4. Get enough income to support my end of the family expenses.
5. Over all business plan for both the acting and investments. (How I want to trade and hold)
7 Funding a micro account in Forex, learn more about the specific option trade I am interested in, and research the world of higher dividend stocks.

Ok wow and that's just off the top of my head. I got work to do.

Day 7 - Crunch Time.

I have arrived at decision day and I am still some what pulled hither an yon. So to help me come to the final choice for which path I am going to take in the next five years to gain financial independence I will prune some the six options I had set up for myself.
Here they are.

1. Real Estate License.
2. Real Estate Investor.
3. Market Investor (Likely something in the tangibles and not financial product.)
4. Mortgage Broker.
5. Redefining my acting business to included teaching and similar sources.
6. Antiques store

Okay given the nature of the work is mostly networking and filling out forms for a small commission, even with a passive income in some models, the Mortgage Broker is gone. I love antiques store but I don't like the requirement for a street side store and I mistrust my own ideals when I didn't follow up with action. ( I suspect I like the character or idea of an Antiques Dealer for my self but perhaps not the real thing as much.) I really enjoyed the auctions and making a profit and research a lot when I have done this as a small money stream at a hobby level. I think it is a great little hobby but it is not my plan. The Antiques dealer is gone. Okay now it get s a little more odd. I have been thinking about the difference between both the Real Estate Investor and the Real Estate Agent and I think it breaks down like this. I need capital to be a real estate investor unless I am willing to start out either working two job to save the first 20 grand or so, or find deals I can option and then resell to others until my capital pool is larger. Now the perfect day job in my mind for a real estate investor to start with would be a real estate agent because you get so much market knowledge as an agent and you can then stir back your commissions into the investment. Once you had enough capital you could move from sales and concentrate on the deals. ( That statement is revealing in a way; it means I prefer numbers to sales just in case you and I weren't watching, and I almost wasn't)
So I am going to allow my self some flexibility and allow this grouping to be one path with several steps. Option one is now Real Estate Agent come Real Estate Investor. It is a proven money path and the return on investment can be quite delightful.
That leaves defining and growing my Acting Business and Market Investor. I am proposing I put these two together too. Now I know the fit here isn't as obvious as the precedent but bare with me. If I am going to be a Market Investor, I am going to need several jobs. One for my personal expenses and one for my Capital pool for a couple of years. My idea here is since I already have a businesses with name and account (the acting or entertainment business) I would use whatever comes from the acting business as capital pool and only reinvesting into the acting business when need. A bit like Warren Buffets first insurance company except that his company had nice passive cash flow which he used to build his wealth. Mine would not be passive but I have a marketable skill set I am already using.
There option two would be Entertainment Business and Market Investor, (with the idea I would need a second job beyond this for living expenses for a while, which to get my Realtor license and start up capital lets not forget I would need there too.)

So I am down to
1 Real Estate Agent come Real Estate Investor
2 Small business come market investor

And thankfully tonight I have job job (I have a couple part time, random ones but would like to one full time one with some flexibility instead, who wouldn't).

I have given myself one extra day to think these two final options over. I am already leaning heavily towards one, the very one I suspect most folks would tell me to stay away from.

Day 6 - Antiques store.

6. Antiques store
Well it might be a dream position in terms of my likes and passions other then acting and music. I had an antique component of the failed cafe I own and in fact it was the only profitable branch of the business. I had tried to change the cafes landscape to reflect that but my business partner and I couldn't agree on the direction of the business and it folded. There is a fairly soft market that is in constant flux right now because the people who buy antiques in a broad sense are down sizing and the next generational bubble behind is not quite has keen on the product. I think it would have to be niche orientated and specialized to work. I have a space with the house I rent which could be set up for a quiet weekend retail and warehousing for shipping and eBay use(a garage). I am not convinced that I would be able to achieve my goal within fives years with is plan even though if I could get it up and running, I would likely enjoy a lot of the elements of the business. In this market and area a pawn shop might work better but I am not sure I want to go there.

Antiques store
Pros
1. I have a genuine love for antiques and could see myself specializing in a cool area, maybe oddities and historical magic, occult, and early science items.
2. I have been involved already to a small degree in the business and have market knowledge and experience.
3. I do love trading
4. Items are often under valued by the owners because they didn't originally purchase or want them.
5. Your "old crap" is my gold based on inequity of market knowledge.
6. Pretty easily accessible world market.
7. Inventory doesn't spoil and often can go up in value while it waits to sell

Cons
1. Finding enough inventory in my small market.
2. Shipping costs can kill the smaller margins.
3. Achieving enough turn over to create a livelihood let alone a home purchase.
4. World market for items can be pretty cheap right now.
5. If I open a street side store I will incur a large overhead.
6. I have had the opportunity do work on this the last several months and though I have made a few deals enough to help with the rent etc. I did not throw myself into it. I am not sure why but I should think about why I haven't. I think because I am under incomed ,if that is a word, and need to chase cash.
7. Tons of leg work and capital costs find bigger inventory purchases like full home content purchases.
8. My gut tells me it is a excellent choice for my semi retirement but not where I need to be now.
9. Finding and buying trips etc are a right off on income.

Day 6 - Redefining my acting business

Redefining my acting business to included teaching and similar sources. In some ways this makes the most sense, I am after all a film and TV actor and with a nice number of credits ans experience. I have taught acting workshops at theaters, schools and colleges, as well as created the curriculum in some cases. I have put a night class together for the local community collage and not only did we get enough students there seems room for expansion. The hourly rate is attractive for the job market here and there is a possibility that this might be placed as my second job in a two job plus wealth method scenario. I think strongly that this course and perhaps additional courses (and some gigs if I can get them) will play some role in the wealth plan, but it may or may not be the main player to wealth so to speak. I would have to get a school started, get others to teach and take a percentage for costs and passives income if I was going to truly rely on this idea for passive income and wealth.

Redefining my acting business to included teaching and similar sources.

Pros
1. I already know what I am doing in a sense.
2. Hourly rates are good when I work for both teaching and acting.
3. If I can get a good recurring role for a season on TV show I will have sourced a nice capital start up.
4. I enjoy acting ( in Film, TV and Theater) and teaching much more then most other jobs I have done (I have ton a ton of different jobs, its an actors dilemma because no one wants you to leave work for a week to work as an actor. So often we quit and when the gig is over we need to find new work again, oh the glamor.)



Cons
1. Teaching requires me work as a subcontractor, building a business and to source students but then I am given an hourly wage which though decent creates a cap to what I can make, but if I remove myself from the college, I lose the place and the power to attract students from the college's advertising and brand.
2. Not sure there is enough of a market of students locally to make enough. (Though the idea of an e-book for acting is also possible, it has been done but not by me.)
3. Insanely hard get a nice recurring role for a season (and out here a lot of years there isn't even any episodic shoots) to sourced a nice capital start up
4. In as much as I did pretty good in Vancouver as an actor money wise. I never got rich from it and I am now in a way smaller market.
5. I love it but theater doesn't pay enough to support any ones family except maybe in New York City and only if you can sing, dance, act and are flexible.

Day 5 - Mortgage Broker.

Mortgage Broker.

I am not super excited about this idea as it seems at first glance a poor man's real estate license option. Not as costly to get going but commissions tend towards 600 instead of 5000 in my market. I know only a little about this option and need to visit more tomorrow. I felt I should make the start of this entry before I go and actually make a little cash at a job tonight, however.


Mortgage Broker.

Pros
1. Potential for good money after a couple of years. ( 30,000 to 50,000)
2. Some Brokers allow for a passive income in recruiting more Brokers.
3. I would be my own boss mostly which is something I am not only comfortable with, I am used to it.
4. I love researching both by reading anything I can get and in the field driving.
5. The inventory doesn't spoil and you aren't required to carry any.
6. Only a 1,000 dollars to get licensed and insured. No course to pay for yet.

Cons
1. I am not sure the money is good enough for the work and worry there are better choices.
2. It requires huge amount of time to build your network and time to do the job. I would be looking at 50 to 60 hour work weeks for the first three to five years minimum.
3. Though there is some freedom in schedule you are tied to your clients time and your family and you must come second to a sale.
4. Potential expenses swings in advertising and servicing a client who doesn't buy.
5. Discount brokers and Internet Brokers.
6. New tougher mortgage rules.
7. Higher mortgage rate coming with a higher down payment.
8. Acting would have to come second and likely put on hold (something I might have to do most of the ideas).
9. It will require me to be much more organized and paperwork detailed. (some thing they all will require)

Day 4 - Market Investor .

Market Investor.
I love this idea and it requires no selling but again requires tons of new knowledge and I am not 100 % sure where to get this knowledge and what that will cost. I love the idea of a cash flow business that so if I pursue this idea, a large part of my learning and investing will be in high dividend paying stocks with a stable equity. I will need a huge amount of capital unless I can find ways to leverage part of my investments so I can super charge the first fives years. Then I can bring the high risk picks of options and FX trades down to be only 2 to 5 % of my capital. This choice means I'll need two jobs for several years. One for me and one for my bankroll. I might need to take more risk then random variance likes to to get caught up in five years.

Real Estate Investor.
Pros
1. Potential for very good money once up and growing. ( Hard to define a target yet)
2. Depending on the investment vehicle, this choice is fairly flexible and liquid.
3. Passive income and risk management are both qualities you can and should build into your portfolio. ( Again passive income is important to my goals)
4. Once up and running I can work from home and on a very flexible schedule since my market style likely will be based a little more on fundamentals then technical and longer then a single day or minute trades.
5. Lots of reading, I really do love reading and BNN.
6. To start you just need enough capital so your first trade can big large enough to make a profit beyond your expense to enter the market. (It wont be near enough to live on the profits but you can start with 500 dollars or so and open a tiny micro account for trading. Job two fuels the capital pool. (more research)
7.I have played poker (semi pro for a little while) and can translate a chuck of bankroll management, emotional control, and number theory (though a lesser degree then the first two) into this new venture. In fact I had thought of making professional poker player option 7 but the swings are too big. If I was 20 years younger I might just chuck this blog and get to a game. I am however 47 and have a baby daughter to raise. Poker is a hobby and not an option for me, the skill set however could come in very handy!
8. I honestly love trading and markets this is just one I don't know.


Cons
1. I honestly love trading and markets but this is one I don't know.
2. You need to get your capital pool pretty dang high if you can hope to keep the pool safe from ups and downs and still open up a stream to your self to live on.
3. Leverage likely cost more risk then real estate though much easier to get in markets like FX.
4. I don't have a business degree, I have an acting degree (just saying)
5. Raising enough capital will be a huge concern even with two jobs and at 47 time is short.
6. It will require me to be more organized and paperwork detailed. (some thing they all will require)

I really love this idea but I am scared that it might be next to impossible make enough money to live on from the passive income. One thing in my favor though is that once the principle house on the beach is bought in full my requirements for daily living cash are pretty cheap (I have been an actor for over twenty years and it doesn't take much cash to please me and I do plan to keep making money from creative projects, however, I must not have to ever again count on the income from these creative projects for a comfortable standard of living according to my goal.) These next five years are to be used to cut my and my families risk for the late to mid stage of my life after these 45 years of a delightful protracted youth.

Feel free to comment or give advice because I am looking for any and all suggestions.
Posted by CaptnPoppy at 12:55 PM
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Day 3 - Real Estate Investor.

Real Estate Investor.

Option two is I think a good fit but requires tons of new knowledge I am not 100 % sure where to get it and what that will cost. Perhaps a good system will be cheaper then the 1500 for the Realtor course. I love the idea of a cash flow business that builds equity because of market increases and leverage which is paid off by clients who when they leave want nothing in return on the business. Certainly something to consider here is if I won a million dollars this kind of money path I would invest a large part of my cash flow and wealth structure.

Real Estate Investor.
Pros
1. Potential for very good money once up and growing. ( Hard to define a target yet)
2. The new mortgage laws will make buying a house a little harder so people will be renting more and longer before buying a house.
3. Great passive income potential as cash flow increases when tenants pay down mortgage and rents go up with cost of living. Nice risk management potential.
4. I like houses and have in my time owned and flipped a couple that I had lived in.
5. After a certain amount of units are owned ,the day to day management is cost effective enough to pass off as an expense to a subcontractor management company.
6. I live in a market with a fairly high population of renters.
7. I love researching both by reading anything I can get and in the field driving.
8. There are I good tax right offs on expenses like mortgage interest payments.
9. Freedom of Schedule especially when the bulk of the set up is done (enough buildings to generate good livable cash flow and pay a management company to deal with the building and tenants).

Cons
1. I know little about setting up capital partnerships and have no track records for partners and bankers to comfortably enter into a deal with me.
2. If I try to start a start alone I will first need to save around 80,000 for 20% down on a cheap triple or quad in this market.
3. Dealing with tenants and building problems for several years before the equity allows more freedom.
4. Partners concerns if capital is raised.
5. Raising capital will be a huge concern.
6. Acting would have to come second and likely put on hold (something I might have to do most of the ideas).
7. It will require me to be more organized and paperwork detailed. (some thing they all will require)

I really like this idea but I am scared that it might be next to impossible to raise enough money for the first venture.
Feel free to comment or give advice because I am looking for any and all suggestions.

Day 2 - Real Estate License.

1. Real Estate License.

The first money path on my list towards finding independence is a Realtor License. I am going to list the pros and cons of this method not as a general list but one that pertains to me and how I might succeed in it. Through out the six day process of examining these different ways of making money I will allow myself to come back and revisit the lists, however on the seven day I will make my choice and begin. There is always a danger in examining and never committing to action on a plan. So in seven days the plan with be chosen. The goal process I am using is a bunch of stuff I have found for free on the net , like, some neat old films from Napoleon Hill on U tube, the free section of Don Campbell's real estate investing web site, Google search on how to set goals,talking to people in the industry to see if I could be a good fit and any thing that strikes me as cool on the net for free that helps me think it through. I am open to buying systems or product to help me in succeeding however at this point I feel I need to choose the target before I invest capital in buying the right kind of bow.

Real Estate License.
Pros
1. Potential for good money after a couple of years. ( 60,000 to 100,000)
2. Some Brokers allow for a passive income in recruiting more agents.
3. Allows movement into rental properties with the idea of using commissions to help with down payment, again providing passive income. Though this might be considered a path to real estate investment which is an other path itself on the list.
4. I like houses and have in my time owned and flipped a couple that I had lived in.
5. I am pretty good at talking with strangers and have no fear of public speaking.
6. I should lease a nicer car say a Jag which would achieve an other fun goal by the very nature of the business. (Your car is your office, client support system and your image, it is not just a fancy car for no reason.)
7. I would be my own boss mostly which is something I am not only comfortable with, I am used to it.
8. I love researching both by reading anything I can get and in the field driving.
9. The inventory doesn't spoil and you aren't required to carry any though it would be best if you did.

Cons
1. It will cost around 10,000 to get training, licensed, and have enough capital to take a swing at it and I am broke. (at least 3/4 of a year before I can take the course)
2. It requires huge amount of time to build your network and time to do the job. I would be looking at 50 to 60 hour work weeks for the first three to five years minimum.
3. Though there is some freedom in schedule you are tied to your clients time and your family and you must come second to a sale.
4. Potential expenses swings in advertising and servicing a client who doesn't buy.
5. Discount brokers.
6. New tougher mortgage rules.
7. Higher mortgage rate coming with a higher down payment.
8. Acting would have to come second and likely put on hold (something I might have to do most of the ideas).
9. It will require me to be more organized and paperwork detailed. (some thing they all will require)

I think this idea has tons of potential and have already talked to friends who are real estate agents and several local brokers. I am at the point here though where if it is my choice I need to find some funds and get training before they can help me any further.
Feel free to comment or give advice because I am looking for any and all suggestions.

Day 1 - The Start

I am a 47 year old actor who has for family reasons moved from my major market in Vancouver to a much smaller market in Halifax Nova Scotia. I had invested my live savings in a cafe and bought a house with a check when I came home. (Vancouver was pretty good to me). The cafe went under and I had to sell the house. I am now debt free, broke and with out enough employment and likely will not ever find enough here to support me and my family in my field (acting). So this is my new challenge in my life.

" To have with out fear or stress a breakfast of high quality food at the beach front home we own so that my family and I can approach the day filled with exciting challenges and passions unencumbered."

I have settled on six choices to make it happen.
1. Real Estate License.
2. Real Estate Investor.
3. Market Investor (Likely something in the tangibles and not financial product.)
4. Mortgage Broker.
5. Redefining my acting business to included teaching and similar sources.
6. Antiques store

Except perhaps number five, I will need to raise capital and even with number five I need to make more then I am to cover my family's Living costs. So the first two steps involved a J.O.B. and 1 to 4 might mean for a little while two J.O.B.s. It is kind of strange to make this a public journey, but I think it will be a great way to involve me daily and perhaps provide a free road map for others. I will help asking for anyone's input, business ideas and possible projects. I will not be selling any system on the blog, however, I am allowing ad sense to live on it. It is time to start. Pros and Cons of 1 through 6 over the next days and then a choice on day 7.

I am not a traditional business person, I have traveled at times over a year through American and Europe with a back pack and little else. I have been an artist who as mostly dabbled in my life. I became a first time father at 41, I love Mexican day of the dead images, I have played guitar in Gypsy swing bands, I have often been described has kooky or delightfully odd. I am not what one would normally consider a businessman. So if I complete this goal and I will, know that who ever who are dear reader you can too. Cheers and here we go