Our first meeting!

Hello all,

Today was a great get-together of like minded ladies. We decided to open up the floor to our spouses and other guys (as long as they stay on topic). We discussed an overview of some of the topics we'll be covering in the coming months - internet marketing will be one of the subjects to be added. "The e code" by Vitale and Mok was brought to our attention and may be useful for that topic. I'll review it and let you know.

During the next meeting we will cover real estate investing. We will be welcoming Asokan Thurairajah, a Realtor with Keller Williams Ottawa Realty to be presenting an overview of real estate investing including residential as well as commercial real estate.

To prepare for this meeting, I suggest reading Kiosaki's "Rich Dad Poor Dad" and Campbell's "Real Estate Investing in Canada".

For those who have questions about how much they can afford for a mortgage and the specifics of downpayments and mortgage rates for investment properties, you can call a mortgage broker and they would be able to best answer your questions.

HYIP game rules saved the day

I'm glad I followed a set of rules when investing in a number of HYIPs recently. I'll post them here for any of you to comment on.

My rules for HYIP investing is that I consider all of them to be a scam that last an average of 6 months - although I need to prove this number statistically still - I'm just going by what some other HYIP monitor said on his website.

I take all profits out until the investment becomes risk-free. In other words, before compounding or re-investing, I take out, over time, a total sum equivalent to the initial investment. Any profits after that become divided. I take out a portion for my spending income and I reinvest a portion back into a HYIP.

I had invested in three HYIPs over the last few months, GoldNugget, Novalex and Asian Invest Group. It seems as though Novalex and Asian Invest Group are heading into the bust category... According to MONEYnews (http://money-news-online.com/monitoring.html), Novalex is not paying out. Even though it reports Asian Invest Group as still paying, the site is down and has been down for a number of days. Gold Nugget is however up again after a few days of problems. Yesterday all three sites were down and I thought all the money working in them had gone poof in one day! So one in three programs still alive seems like good news today.

Any other thoughts from you all?

Preliminary Itenerary for the First 5 Months

Here are some ideas that I had about the itinerary for the first number of months. Please feel free to add your suggestions by commenting on the post.

Month 1:

Introduction:

Financial reasons as to why would an investor focus on creating multiple income streams versus just one or a couple investments (as an introduction to the whole topic of creating multiple streams of residual income)

Topic of Discussion:

HYIPs (High Yield Investment Programs).

-Strategies, monitoring sites and common sense... We'll talk about one of the fastest and riskiest ways of making money and using our heads!

Recommended reading this month: Loral Langemeier "Cash Machine for Life".

Month 2:

Topic of Discussion:

Starting a Business from Scratch (using our new knowledge from the book!)

Recommended reading this month: Robert Kiosaki's "Rich Dad, Poor Dad"

Month 3:

Topic of Discussion:

Buying a Business

-Traditional and changing it into a cash machine - Business Brokers (I'll ask to get a guest speaker hopefully for this one)

-How to do due diligence

Recommended reading this month: Don Campbell "Real Estate Investor"

Month 4:

Topic of Discussion:

Buying a Franchise

-MLM's - We can talk about some of the common ones such as Primerica, ICF, Amway ect. and discuss advantages and disadvantages.

-Traditional Franchises

Recommended reading this month: Timothy Ferris “4 Hour Workweek”

Month 5:

Real Estate Investments

-Why do real estate investments as a cash flow perspective?

-Commercial, Residential purchases

-How to do due diligence

-I'll bring in a realtor to talk about using a realtor, differences between commercial and residential investments and doing due diligence.

Recommended reading this month: "The Magic of Thinking Big"

Introduction to the Club

Why did I organize this?

After searching for a long time, I discovered that I was most excited and happy talking to others (especially my husband) about making money. Specifically, making residual income from multiple streams. I enjoy sharing my knowledge and learning from others about making residual sources of income.

I had previously happily talked to any body with a temperature hovering around 37 degrees C, but as you can imagine, some are ready for the discussion and are ready to contribute, and some are not, which leads to the next section...

Are there any pre-requisites to attend the club?

I strongly recommend that all members have completed or are currently attending Bob Proctor's Goal Achiever and Winner's image courses. If you haven't completed these courses, you can attend an introductory seminar that will allow you to learn more about the courses and concepts involved. This course is offered by "Keys to the Universe", an Ottawa based company, which is run by Bob Proctor certified consultants.

We will be talking about the "How to" of making money. These meetings will not be effective if you are searching for the "Why" of money. The above courses will cover the "Why" and all other aspects of your life and get you prepared for the "How to".

The purpose of this club

The purpose for this club is to create a master mind group to learn and share knowledge and experience about making multiple residual income streams.