What is the biggest risk you have taken?

Discussion in 'General Business' started by xrystal, Jun 23, 2009.

  1. #1
    Just curious to find out if anyone has taken any financial risks regarding online busines.. If you had some funds, or knew you were doing to be in debt, would you sell your home if you made a profit to gain more income?
     
    xrystal, Jun 23, 2009 IP
  2. jonathanfigaro

    jonathanfigaro Peon

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    #2
    I quit my job ....to be a full time entrepreneur.
     
    jonathanfigaro, Jun 23, 2009 IP
  3. nickswift

    nickswift Well-Known Member

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    #3
    bought and sold a house in 18 months and made $100,000 profit but this is only off line so I guess going freelance as a full time SEO person - company worth about $60,000 now and profit about $50,000 a year but its only a new company.
     
    nickswift, Jun 23, 2009 IP
  4. jillvrill

    jillvrill Peon

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    #4
    I lit a juicy pooter and it didn't suck back in! It was risky but worth it cause I made $53 for completing the dare.
     
    jillvrill, Jun 23, 2009 IP
  5. xrystal

    xrystal Peon

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    #5
    Well i'm thinking of selling my home for profit.
    But do these things on peoples sigs actually make money. Or does that mean I'm someone elses bitch. What if I know how to code and have my own personal project that has been established. I am doing ok now, but i wont be soon. So now I feel I really need to make a decision or just continue on the cycle of the goverment aid and wait to see what happens when I cant pay my mortgage.
     
    xrystal, Jun 23, 2009 IP
  6. jillvrill

    jillvrill Peon

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    #6
    Audit your lenders and see if you have infractions or violations in your mortgages. If you do, you can reduce or totally eliminate your debt(depending on the violations). It will be easier to sell when you have more equity to negotiate with if it comes time to sell. Otherwise...be prepared for a rude awakening in the real estate buyers market of today.
     
    jillvrill, Jun 23, 2009 IP
  7. simstar

    simstar Peon

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    #7
    I have only made $xxxx investments online, mostly domains or established websites, nothing too risky.

    Selling your home is a risky method but sometimes it's necessary to do this. This enable people to live out their dreams of being rich and successful whilst also leave some in financial disaster. Make sure you know 100% what you are doing and believe that you can make a healthy profit that exceeds the potential risk you are taking.
     
    simstar, Jun 23, 2009 IP
  8. bigrollerdave

    bigrollerdave Well-Known Member

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    #8
    I never really had to take a risk. I started my business 6 years ago with 10$ that I borrowed from my mom (I was only 17 so I still lived with them). I took that 10$ and bought a website and hosted it on a free server. 1 year later I sold the site for 8k and I found my new business. I've been doing it for a living since then.

    I found the best method is to find the newest upcoming tred and ride the train to success. For example when myspace was huge I created a myspace support site helping users create cooler profiles and made my first 6 figure year doing it. My latest success story is Blackberry's new phone called the Storm. I created a website where users can download wallpapers, ringtones, applications etc. In 1 month I made enough to pay my house off for a year. Keep in mind though that these are fads and will slowly start to fade away which is why you always have to keep finding the next big craze.

    Is everyone this lucky? No, in fact it's just the opposite. Most people try and fail online. If you stay on top of things though you can make endless amounts of money.
     
    bigrollerdave, Jun 23, 2009 IP
  9. SonnyCooL

    SonnyCooL Peon

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    #9
    is not luck ......
    Is the person who see the future, understand his ability and able to do something that majority won't ..
    i'm sure u fail before but u do learn .....
    Think out of the Box is easy to said but difficult to implement ..
     
    SonnyCooL, Jun 23, 2009 IP
  10. bigrollerdave

    bigrollerdave Well-Known Member

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    #10
    This is true, I see it all as luck personally.

    Everyone I know though friends, family, instructors etc all tell me I have a skill / talent. I just shrug and laugh it off.

    I don't do anything that anyone else can't do. It just takes some effort / research. Most people try and go the simple route, and end up falling on your face. It takes a lot patients, but when the money starts to come in it really comes in.
     
    bigrollerdave, Jun 23, 2009 IP
  11. mentos

    mentos Prominent Member

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    #11
    Yes last year i sell my condominium for $300k and use this at my forex trading account.
    Now i already break even,i buy back my previous sales condo at $400k.
     
    mentos, Jun 23, 2009 IP