/biz/ - Business and Finance

>>1028

yeah you really have to go to the property itself and make sure it's worth what they're asking. you could probably offer 10k cash and get a deal. which for a developed land is a great deal, those are usually $30k+ depending on acreage and location. if the trailer's livable for another decade would be easy to save up the cash to build an actual house there. and the location doesn't seem bad looking at google maps.

if it's on city utilities, and they've been built/replaced within the past 10, 15 years that's not a bad deal. of course buyer beware, could go there and find out some trees rooted through all the septic plumbing or whatever and have to dig up/replace all that for another 10k. maybe it's abandoned and the pipes inside the trailer burst and flooded/rotted the inside, who knows. gotta go look at it.

anyway yeah, fixed rates are what you need especially in a volatile market like we've got today. wait for the stock market to crash, then i bet you'll be able to get some realllly good terms on a mortgage, and so long as your job is secured you can stay at a fixed 1-2% rate as your wages increase via inflation, win-win.

good advice on the credit as well, i should probably start using my cc again, there's a several year gap in my borrowing history. fed must hate me.

Buying HL was a good idea. I wonder whether to buy, sell, or hold.

I hope we get a recession.

>>1059

hold. bottom was 1.52 back in the '08 panic. unlikely to fall under 1.50.

most PM stocks rose with gold. it could dip back towards $2, but assuming the company doesn't go broke you're geared to get ~%500 return over the long run.

i'm just invested in this as far as my metals investing goes (and some physical in my basement) https://finance.yahoo.com/echarts?s=VGPMX

gonna enjoy dumping that ~$40. hoping to load up on some more around 6.50.

>>1060

also should note, gold/silver tanked during the '08 crisis and likely will again in this one. so ya know. keep that in mind, maybe keep some extra cash on hand to buy more in case panic sets in.

>while the other is born into a cycle of ignorance, strife and servility

>My personal goal is to make it to a prestigious university

>greatest men in history

>Karl Marx

Keep it more subtle next time. You had me going for a bit.

I did Engineering at Cambridge (Churchill)

I really do not know what you expect to get from Cambridge. I think you have mistaken it for Hogwarts.

Its a great uni, and I had the time of my life. But its like anywhere else: most people are not entrepreneurial or insanely wealthy and going to give you money for no reason.

I have some friends who have done startups. One of them got a billionaire as a seed investor. It doesnt guarantee his greatness at all. He just finished series A in techstars and has 20 employees now. He will be worth 10-30 Mil eventually I reckon.

The best you can do is work towards making 10Mill or so and hope that you get lucky with product/market positioning and distribution channels and get a 10x multiplier.

If you want my advice its this: build a good cashflow business thats

Most of the most successful people I know didnt even go to uni, they just started companies and grew them.

These rich investors are only going to give you a shot after youve done a few companies on your own and got reoccurring revenue coming in. Focus on cashflow businesses before ultrascalable-but-high-investment-needed-tech-startups. Stop looking at how to be a billionaire and start looking at getting £300k a year in semi passive income - when you are at that point you can create truly innovative tech startups without needing to rely on giving up 90%+ of the company before getting to a cashflow positive point

I'm interested, OP. The only path I can think of is cold approaching with good sales tied in.

>>916

University education and facilities are a minor contribution compared to the alumni network one has access to.

Is this still active?

Doesn't look like it.

>>1057

i don't know why you thought such a thing would ever go anywhere, especially on an anonymous internet forum.

you'd have infinitely more success panhandling at intersections honestly.

Have you posted about this before? It sounds familiar.

First of all, you shouldn't have taken a risky venture with money you couldn't afford to lose. And 5k of debt isn't that bad as long as you have a job. What you should have done was start your business on the side while working a regular job and have it support you before leaving that job.

Whenever you are in debt, you should treat it as an emergency and pay it off as fast as you can. Get someone you know to help, since they will probably not charge you interest or ruin your credit.

>>1041

the money I put in was money I could afford to lose, however, I made the mistake of holding out hoping we would sell our product, instead of calling it quits the minute I started to go under, I held on hoping for a good turnout that wasn't guaranteed. I was so stuck on success as I had put so much time and effort into it I didn't want to let that go at cost of going under.

I'm not sure I know anyone who has 5k they can loan out, what are my options as far as consolidation despite having no income the last year. I am willing to lose some money longterm over interest.

>>1042

can't you just shut the business down, get a normie job and pay off that debt? if you're saying you can't find a job i call bullshit, there are minimum wage jobs everywhere you can use to start paying down that debt before interest eats you alive. Tell your interviewer you need to make money to pay back a loan you took on a business venture, they'll probably be impressed you went above and beyond the average. Bankruptcy is always a choice as well.

Don't be ashamed of failure, every successful businessman has failed many times over before they found their niche. Learn from your mistakes and try not to repeat them your next attempt, after enough effort you'll be pretty damn good.

>>1042

It doesn't have to be 5k at once. The idea is that you pay the bank quickly and instead negotiate with someone that doesn't charge interest.

>>1043

I don't think the bank is going to let OP declare bankruptcy. If OP is the typical channer, IOW, young, single, male, lives with parents, is reasonably healthy, has no children, etc; then there's no way the bank is going to let him go bankrupt. Not for 5k.

>>1043

business is already shut down, and im actually making MUCH more contracting with primenow and uber than i would on minimum wage, but its not completely stable.

I actually made $200 Sunday night

Biggest issue im noticing is panic, the stress over the last year has worn my nerves really thin, I made this thread when I panicked when I saw I only had one day of prime scheduled next week and was panicking i wasn't going to make ends meet, then when I actually got some work in it turns out I will be just fine, after only one nights work (its still tuesday and I can drive tonight, tomorrow, work thur, and through the weekend)

All the uncertainty of the business really got to me it seems, not sure how to get my head back on right again

It's so new it doesn't exist… apparently.

I would say so. The problem with modern education is ever since college started being subsidized by the gov't, literally anyone with a pulse can become 'college certified'. This obfuscates the pool of innovative people who can actually approach a problem and solve it, rather than follow a preset curriculum that will inevitably become obsolete. Most college curriculum's leave their students impotent; they're trained to handle ONE thing ONE way, and when they're in the field and the world changes on them they're left gasping for air, screaming "I WASN'T TRAINED FOR THIS WHAT DO?!?".

If you were worth something you'd have made YOURSELF worth something, not chased after the approval of some faceless institution. That's the problem.

–

Actually, the REAL problem is beyond the topic of state-approved education. The governments ultimate goal in subsidizing college isn't to 'improve the prospects of each generation', but rather to have a line of irrevocable debt they can point to to retain their credibility. Having >$1,000,000,000,000 in interest-bearing, irrevocable debt is quite a nice asset to have for a government that is failing to retain the credibility of its fiat currency.

tl;dr the economy's gonna implode, build your own portfolio that you can use to prove to an employer you know your shit. don't pay someone else to vouch your skills for you, vouch them YOURSELF. Entrepreneurship is the only way anything ever got started.

You should ask at the bizness.co

honestly, engineering will make you slowly kill yourself, depending how you take it

>>985

Is this pasta? It sounds like the propaganda I was subjected to in school.

>>986

>flipping burgers is not beneath your dignity

yeah we had it on a poster in our highschool maths class.

learn to control/work with your psychology. i'm just starting myself, and so far this has been my greatest roadblock. algorithms are stupid and people are emotional. try to find a balance between them. people here are slamming on college (for good reason), however having a college degree in a relevant field can still be a boon. i'm giving this daytrading shit a shot but having a degree/leaving my former employer on good terms with my coworkers leaves connections+experience on which to fall back

How convenient for Obama.

scalia's death has next to nothing to do with the market. unless he happened to be managing a multi-trillion dollar fund, there won't be any market reaction just because some guy noones heard of till now is dead.

if it were the president or someone important yeah, but the world keeps running after people die.

>>1014

hadn't heard of him myself i have failed as an american but now the news won't shut the fuck up about him. the amount of disinformation circulating around him along with the position that he held causes me to think this will effect the market in some small amount.

>>1021

news usually acts more as a catalyst than something that directly moves price. stuff like that is already priced in. everyone already knows about it.

you really only have to pay attention to price history/technicals. like, i highly doubt the spx will go back over 1900 because it tested that level three times before falling further. if we do hit 1900 it'll be very temporary, i'd buy some puts at/around that price.

the chart has the most relevant information you need, period. news is secondary, it's only useful if you're an insider who has access to it first/is the guy making the deal.

and yeah i didn't know who scalia was either and doubt i ever will cuz whooooo cares. the justice system got incorporated a long time ago, helped enforce the war on drugs and such.

americans are hands down the most oblivious nationality, and yet we run the world, it's funny.

>>1014

>noones heard of till now is dead.

Are you a recent immigrant?

That's interesting, I never thought how TPP would endanger sovereignty. From what I understand TPP ties together all the largest corporations of the world by setting ground rules they can agree to operate on. Corporations need these rules to be accepted by countries all over the world, the one commentator's remark that japan would be 'colonized' is a good descriptor of the effect.

Nothing will stop TPP or whatever variant, countries really don't have a choice, they're just in debt as the banks. Hooray multiculturalism!

would you mind explaining in tl;dr terms what the dollar index tells you? i know about it but don't know why it's necessary to compare USD to other currencies.

gold is included in the dollar index? i thought it was just fiat currencies relative to the dollar, which made it kind of superfluous to me.

>>957

depends where you live; in the US, it's classified as property, meaning every time you buy/sell it that transaction is taxable. So keep records of all your trades so you can report exactly how much money you made/lost to the IRS.

The taxes are either short term rate (sold within a year of purchase) or long term rate (held for a longer than a year). You can find a table of current rates here: https://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States#Regular_and_capital_gains_tax_rates_for_2015.5B5.5D

fun fact: if your income is less than $36k, and you held an asset over a year before selling (long-term rate) you can sell that asset tax free until you hit $36k in aggregate income that year.

nothing too difficult, just make sure you keep records of your trades.

>>957

oh yeah, and mining is classified as income, so whenever you generate coins through mining you must pay income tax on the coins, based on the market price at the time you received those coins.

honestly mining really isn't that worth it unless you have access to cheap/free electricity.

>>959

Thanks, if one were normally below the filing limit would it be necessary to file when mining/trading?

I've mined a few dollars worth of Gridcoin, I get crypto to do something I normally do anyway.

>>960

No, all income you ever make has to be reported to the IRS, regardless how you obtained it. It's illegal to make money without the IRS knowing about it, basically. However yeah there are ways to claim a 0% tax rate if you're poor enough + hold the asset for more than a year, so plan your shit now and you'll be able to keep the maximum of your gainz AND not get thrown in jail for tax evasion, win-win.

honestly a few dollars worth of gridcoin, i doubt they care about that, just keep records in case they ask questions/do a dragnet on everyone involved with cryptocurrency.

>Is there any point in investing in altcoins?

Yes, to borrow from MiB bitcoin is old and busted while some altcoins offer new hotness. Or to word it more /biz/ like bitcoins high marketcap means the devs are very cautious about adding new technology and wait for it to be proven first, by doing this they are insuring bitcoin goes the way of Nokia after they refused to produce smartphones until they were proven.

>WIll they ever actually make money?

I have turned $20 into ~$3000 using a mixture to two techniques. I either find a coin that offers a new technology I think has potential and go long or I look for large acquisitions indicating someone is planning to pump and dump.

>What are the best coins to invest in in order to make said money?

Long ETH but wait for it to fall again before buying, it has seen huge growth recently and is due for a correction.

>What length of time do you expect before sizeable amounts are made?

Depends on the amount of time you are willing to put in, you can go long and wait 6 months to a year or go short and trade the waves after large shifts.

>Will altcoins ever separate themselves from Bitcoin?

Financially many can be traded for fiat without going through BTC.

Psychologically it will be a long time until the public understands it well enough to know there is more than one crypto.

>>957

Here in Rooland no one cares so long as you stay under $2k a month, legally it's treated as stocks.

>>964

You mean trading stocks? I've definitely thought of that but it's pretty risky isn't it?

>>967

Absolutely, risk = reward, so long as you're smart and calculated about what risks you're taking. Huge difference between being risky and being foolhardy.

It's a good skill to know though, at the very least to be able to read the pulse of the markets and where they're going. Open a paper trading account and give it a whirl, TD Ameritrade offers one when you sign up. It can be a fun hobby, don't jump in expecting you'll make millions because then you'll probably lose everything. Just try out paper trading and see if it's something you can swing.

FXCM.com also offers practice accounts for trading forex, if you want to get used to leverage. Simpler market to play with than stocks.

Other than that, get more hours at your job and sell stuff on ebay, if you have any skills in demand whore yourself out on craigslist. It's not easy to make great amounts of passive income.

>>968

I'll give that a try, sounds interesting. I definitely don't expect to make millions, all I want to do is bolster my income to reach my goal.

My goal for the very distant future is to start my own conglomerate/holding company.

>>969

yeah by all means, there is no harm or risk whatsoever in paper trading, and they let you use the exact same platform as you would with 'real' money (ahah) but yeah, i think everyone should try trading, it's a great introduction to how global markets really function. if you get crushed, that means you learned what you didn't already know. practice makes perfect.

i'm on the same level as you, just managing my money in ways that i can be assured it will be there for me in the long run. financial management is a necessity of life, the fact they don't teach it in schools says a lot about the system we're raised in.

honestly at this current moment in time, you'd do well to buy physical assets. i'm a fan of silver and some cryptocurrencies. read through my other thread if you want to learn from me/my mistakes.

take care of yourself.

It helps to have something to start out with if you want to invest. And you probably won't make much at first. You probably want to pay down student loans first. In the meantime, try investing in yourself. Develop some skills that you can use for a job. Focus on studying. That includes investing or any other skill.

If it's anything like tech, then you don't need certs to get a job. They're just padding on your resume and probably not as valuable as experience and references. It's generally the bigger companies with HR departments that care about that sort of stuff.