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Old 09-20-2006, 09:41 AM   #4 (permalink)
Cynthetiq
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Location: Manhattan, NY
Quote:
Originally Posted by willravel
So, you'd want a decent amount of capitol to invest to begin with. Do you know how you'd actually enter those careers?
I've already started, I bought my first 1 bedroom condo in Las Vegas in 1999 with $6,000 down payment. I bought at $60k and it's now valued at $181k. I'm 1/2 way into the 15 year mortgage.

It isn't Trump but it's a start.

Leveraging the equity in the condo, I'm now looking to buy a 2-4 family dwelling somewhere in the US. That covers the real estate.

Investments, I contribute to my 401k which will give me somewhat of that ability in the future. I have some outright stock purchases, but not many. I really need to get on the ball and purchase more mutual funds.

Royalties, well, that's about an invention, creative something, which is a shot in a million. It's the one that I have the least amount of control and most doubts in succeeding.

edit: I forgot to add my own current living quarters, I live in a 1 bedroom in Manhattan, in one of the last affordable areas. It will probably be a place we never sell because it gives us a place to stay and live when we visit NYC. I bought it 4 years ago and was trying to convince others to buy in the same area. I bought for $265k and comprables are going in the $400k range. note I was renting even though I owned someplace in Las Vegas, I couldn't afford to buy where I lived, so I bought where I could afford.
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Last edited by Cynthetiq; 09-20-2006 at 09:48 AM..
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