BLΔCK⁂W⊙LF
All Star
How would you go about doing it? 
Turning $100k into $1M in 6 years
- Thread starter BLΔCK⁂W⊙LF
- Start date
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- money
Open a business
NeilCartwright
All Star
Real Estate Investing/Developing
dish lowry
Pro
put 50k in a stock you believe in (shopify, square, IQ, JD, etc.), and use the other 50k to swing trade. it takes a lot of patience & brass balls though. don't make any emotional decisions.
This is damn good advice
Snapchat stock.
How would you go about doing it?
Put 5-10% down on an apartment building worth $1m/2m and pay off the debt using the rent generated
Find a business worth $1million. put down 10% and borrow the rest then grow that business
Or use seller financing for both... It won't take you 6 years
TheBigBopper
Banned
$10k in crypto
$10-30k in stocks
Rest in real estate—use leverage to purchase multi family rental units, refi when you have adequate equity value, then use proceeds of the refi to purchase another property.
$100k to $1mm in six years is a little unrealistic though. You’d need a 46% return compounded. Realistically, if you used a significant amount of leverage, you could probably do it in about 10-12 years, assuming you don’t add more capital periodically.
$10-30k in stocks
Rest in real estate—use leverage to purchase multi family rental units, refi when you have adequate equity value, then use proceeds of the refi to purchase another property.
$100k to $1mm in six years is a little unrealistic though. You’d need a 46% return compounded. Realistically, if you used a significant amount of leverage, you could probably do it in about 10-12 years, assuming you don’t add more capital periodically.
TheBigBopper
Banned
You also need an immense amount of discipline and you need to read up on technical analysis. Personally, I don’t think it’s worth swing trading the stock market because of transaction costs and how small average daily price movement is. You can pick up more volatility in crypto, where trading costs are a fraction of the equity market, but of course, risk is prly 10x greater.
Jimmy Two-Times™
Coli Mods Catch Me If U Can Forgive Me Imma Ridah™
Instead of buying stock bet on yourself by investing that money into the trade that you currently work in, find a niche and then exploit it.
Why give someone your money when you yourself have goals and aspirations. You may not be the next Steve Jobs but you could be eating nice if you set up a business or a service that needs it and it doesn't have to be locally to you either though that should be where you start as who knows your community better than you do. Or set up a business overseas and run it abroad.
For example, if you like concocting drinks for your family and friends you could sell beverages to developing countries like in the Caribbean. Maybe start off with tasters in a public place or with one island in one of their festivals and build from there. Essentially, learn to invest in a trade that *you are somewhat proficient in.
Investing in stocks is like the blind leading the blind because you don't really know what a publicly traded company like Microsoft for example actually does you're just a normal investor like millions of others. Whereas if you know what your business needs to grow, stay afloat or to gain new investors then you'll have a better chance for financial success.
Really the easiest way to make a million within 5-10 years is invest in yourself. Steve Jobs had the financial freedom to find PIXAR and invest in them but only because he was the founder of Apple. If he never bet on himself first he wouldn't of been able to explore other future potential financial prospects.
You could change your career path and study something in STEM. Go back to higher education to change your career and gain some certifications and you could earn £100k a year or more.
Learn to save better so maybe move back in with your parents if that is an option so you can save 80-90% of your income.
You could go to the Army as a soldier, leave when your service ends and then come back to normal civilisation and get work in close protection security. Depending on your proficiency in your military career you could land a celebrity or high profile individual and they'll pay you literally decent salaries for just a few months contract work doing close protection security. I know someone that goes back to Afghanistan and does close protection security for a politician for just 5-6 months in the year and makes £30 an hour for 15 hours or when needed so maybe literally all day because he is apart of small team that does 24/7 around the clock security for this individual for a 5-6 month spell. Without being a chatty patty pocket watching fakkit, that would roughly amount to £63k-£75k a year for just 5-6 months work. He isn't a close friend I just know him as an acquaintance through a real friend but he seems like he has a screw loose so maybe this career path is designed for people that are a little off their rocker.
If you notice all of these career roles does something that not many do or are willing to do.
I am not a financial guru and I got a B in maths I'm just going off of my common sense.
So like I said you need to bet on yourself to get ahead.
Have a good day, breh.
Why give someone your money when you yourself have goals and aspirations. You may not be the next Steve Jobs but you could be eating nice if you set up a business or a service that needs it and it doesn't have to be locally to you either though that should be where you start as who knows your community better than you do. Or set up a business overseas and run it abroad.
For example, if you like concocting drinks for your family and friends you could sell beverages to developing countries like in the Caribbean. Maybe start off with tasters in a public place or with one island in one of their festivals and build from there. Essentially, learn to invest in a trade that *you are somewhat proficient in.
Investing in stocks is like the blind leading the blind because you don't really know what a publicly traded company like Microsoft for example actually does you're just a normal investor like millions of others. Whereas if you know what your business needs to grow, stay afloat or to gain new investors then you'll have a better chance for financial success.
Really the easiest way to make a million within 5-10 years is invest in yourself. Steve Jobs had the financial freedom to find PIXAR and invest in them but only because he was the founder of Apple. If he never bet on himself first he wouldn't of been able to explore other future potential financial prospects.
You could change your career path and study something in STEM. Go back to higher education to change your career and gain some certifications and you could earn £100k a year or more.
Learn to save better so maybe move back in with your parents if that is an option so you can save 80-90% of your income.
You could go to the Army as a soldier, leave when your service ends and then come back to normal civilisation and get work in close protection security. Depending on your proficiency in your military career you could land a celebrity or high profile individual and they'll pay you literally decent salaries for just a few months contract work doing close protection security. I know someone that goes back to Afghanistan and does close protection security for a politician for just 5-6 months in the year and makes £30 an hour for 15 hours or when needed so maybe literally all day because he is apart of small team that does 24/7 around the clock security for this individual for a 5-6 month spell. Without being a chatty patty pocket watching fakkit, that would roughly amount to £63k-£75k a year for just 5-6 months work. He isn't a close friend I just know him as an acquaintance through a real friend but he seems like he has a screw loose so maybe this career path is designed for people that are a little off their rocker.
If you notice all of these career roles does something that not many do or are willing to do.
I am not a financial guru and I got a B in maths I'm just going off of my common sense.
So like I said you need to bet on yourself to get ahead.
Have a good day, breh.