All Forum Posts by: Dan Bohannon

Until you have high self confidence in yourself and know that you can continue to go out and make money month after month in this business.

Until your cash flow is obviously more than you make at your current job.

Until you have certain houses that you know you can sell to generate large sums of cash in case you need it.

You would be MUCH better off buying the book for $25. It has some sound financial principles (unfortunately they're very difficult to put into practice as they're designed for the perfect world that nobody lives in) and certainly motivates you and makes you think about your financial wealth.

One last tip - only buy the "Rich Dad, Poor Dad" book because all the other Rich Dad books are rewrites of the original.

Myself and an old college friend having been working on a database for a website. I am compling info and he is laying it out/programming. I am the "founder" of the idea and will eventually do the market and finance aspect of it. He is more the tech guy.

So I've never started my own site before. Don't know an incredible amount about how to drive revenue but here is the idea. The site is information/content based. So we are selling nothing. Its strictly a traffic play with hopes that we get massive amount of hits later down the road. Google AdSense seems to be the leading canidate for click throughs.

What other ways can I drive revenue? Anyone have expereince with Adsense...what kind of $$ do you make per click? If I get 10,000 hits a month what type of conversion can I use to estimate revenue? Example: Something like 10% of hits do a click and you make .10 per click so I'd make $100 a month. Obviously its different for each site but general ball park idea....

Also do you think its nessecary to set up and register a business either LLC or S-corp? We obviously don't plan to be very big from the start using just our own brains and time to work on it. But with revenue coming in from Ads to I want to divert that to a business bank account or a personal one?

How early on would you write a contract between you and your business partner? We've already decided verbally that its going to be a 60/40 split of "ownership". Does anyone have a good business contract template? I'd rather not go to a lawyer at this junction...don't want to waste any money.

Eventually I'll go into more detail about what the site is and what we will offer. I will also be hear looking for feedback and improvements once the site is up an running. There are a lot of creative minds on this board and many willing and helpful individuals.

Anyone have personal expereince with starting a site...what are some of the shortfalls and how can I avoid them?

Thanks for the insight guys!

I know many large companies buy timber properties.

I know in my area(s) I just don't see them buying small properties (50-100ac) for timber rights, and there are a few properties available right now in that range.

We have been locked up in a short sale for a 2 family house for a few months. Everything finally seemed to have gone through but now the tenants say they can' move out on the closing date because the apartment they had lined up was rented out. If we don't close this week we lose are rate lock on the mortgage. I wanted to see if anyone had any advice on this sort of situation. Our lawyer says we can rent the apartment for 2 more weeks and or worse case the full month and have them pay us rent. But since we are in NJ and renters rights are very good here I am left wondering suppose they really are just stalling and want to lock us up with having to evict them by force. We would be out a few months rent which would be very bad for us.