I feel like I am moving forward but the pace seems fairly slow. I got word on a very promising deal on a block of flats returning 15% rental renturn, excluding any potential capital gains. Still waiting for further details.
I called an agent this morning who was pretty helpful. Much better than the one I called a couple of weeks ago about the commercial property in Melbourne! Unfortunately the property I was interested in, was already sold – unconditionally. I learnt today that cross-leased means properties on separate titles. Do we say this in Australia? He had a couple of properties that he was just preparing to list. It seems that this might be the way to go – trying to get familiar with a couple of agents rather than trying to continually scan the internet for deals.
My girl-friend told me about a guy who she saw on television who started a business selling XXXXX in the US. It sounds like a great idea and I thought I might have to give it a try by emailing a couple of companies who might be interested in the idea. I won’t divulge much more than this for now.
Still waiting to hear back on finance. I am getting so tired of waiting, I have emailed a couple of mortgage brokers. I will probably also apply on-line at another bank.
If you are still reading this, I thought I might make a mention of “affiliate marketing”. Some people have supposedly become super-rich from it, but for the average Joe, it is a nice way to earn a little bit of beer money. What is affiliate marketing?, I hear you ask. The best example is probably Amazon. Anyone who has a web-site can sign up for the program and if you are accepted (actually I am sure they accept anyone) you put some links to some books, dvds or any of their other products on your site. If someone clicks on the link and buys the product you get about 5% of the purchase price. How easier can it get? If you have a fan site about Harry Potter you could put lots of links to books, dvds and any other merchandise. Since you know the people who visit your web-site are interested in Harry Potter there is a fair chance they will buy something. Average sites get about a 3 per cent click through rate.
One good thing about Amazon is that if someone clicks on your ad or link to Amazon it stores a “cookie” on their PC and for the next 24 hours anything that person buys from Amazon, you credited for the commision! So if you have a recipe site and someone clicks on a link to a recipe book, and then someone else gets on the same PC and buys a book on motor mechanics, you still get the commision!
It sounds pretty easy, but actually your cut from Amazon is pretty low, compared with a lot of other programs out there. However, it is a nice way to get some free books. Stay tuned for more on affiliates.