SOWPub Small Business Forums  
 

Click Here to see the latest posts!

Ask any questions related to business / entrepreneurship / money-making / life
or share your success stories (and educational "failures")...

Get the report on Harvey Brody's Answers to a Question-Oriented-Person

NO BLATANT ADS PLEASE
Also, please no insults or personal attacks.
Feel free to link to your web site though at the end of your posts.

Stay up to date! Get email notifications or
get "new thread" feeds here

 

Go Back   SOWPub Small Business Forums > Main Category > SOWPub Business Forum
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

SOWPub Business Forum Seeds of Wisdom Forum

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #2  
Old May 9, 2019, 08:21 AM
GordonJ's Avatar
GordonJ GordonJ is offline
Administrator
 
Join Date: Aug 2006
Location: West Palm Beach, FL
Posts: 2,240
Default I hope you share the SQ1 with your friend.

Quote:
Originally Posted by Dien Rice View Post
And the thing is, he's a guy who had money!

He's trained as a lawyer...

What happened was a lot of bad things happened to him in rapid succession.

Someone he was going into business with he discovered was running an illegal property scheme - so he backed out. But not until he had already put around $10,000 into the operation.

Another guy he was involved with somehow managed to steal around $40,000 of his money.

And lastly, a tenant he was subleasing to threatened violence against him, when he asked the tenant to pay his rent.

The end result of all these bad things was, he ended up homeless.

On Sunday, I tried to help him get back on his feet. (He had been living in his car for about a week at that stage.)

The last couple of nights he's had a roof over his head again.

The scary thing is - this could happen to almost any of us! A string of bad luck is all it takes...

The real prospect this could happen is terrifying.

How can you prevent this from happening to you?

My belief is, you always need more than one way to make money. Even if you have money coming in now - if it's all through one method, it means you're vulnerable.

There are many ways to create income streams... We've covered many on this forum...

(Including Gordon's recent posts - check 'em out!)

Another way is by chatteling - which can be done any time, and in all economies...!

If life knocks you down - make sure you have the ability to get back up - by having more than one potential stream of income!

Best wishes,

Dien

One concern about educated professionals when life gets tough...they have a hard time with mundane, low income projects, and want to JUMP back to where they were.

A good POA might help. The fact your friend still has a car, well, he's ahead of most homeless folk.

Then, as an attorney, he knows how to start eviction process, albeit, it may take a few months, he will have a place to stay, since he apparently owns the house his tenant lives in...if he loses it because he can't make his mortgage payment, well, the bright side, violent tenant is Bank's problem and he is free of the burden.

Can he put the car to work, as Uber/Lyft? Could he courier for other attorneys who are constantly sending things to court houses, to each other...could he serve people with processes? A car gives him a lot of opportunity. Give him a copy of those books you did for Green Tree, 57 ideas is a good start.

I agree with multiple income streams, which we both have advocated here since day one.

When dire circumstances befall us, then it is time to DO WHATEVER it takes, as long as there is purpose and a goal.

Bad luck is overcome with FOCUSED hard work. Hope your friend has a good work ethic. Wish him well.

Gordon
Reply With Quote
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Seeds of Wisdom Publishing (front page) | Seeds of Wisdom Business forum | Seeds of Wisdom Original Business Forum (Archive) | Hidden Unusual Business Ideas Newsletter | The Great Ideas Letter on CD | Hotsheet Profits | The Art of Leverage | The Success Report | Persuade via Remote Influence | Writer's Friend (software) | Affia Band | The Entrepreneur's Hotsheet | The SeedZine (Entrepreneurial Ezine) | The Fly Low Collect Dough Update Hotline

All times are GMT -4. The time now is 09:21 AM.


Powered by vBulletin Version 3.6.0
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.