There is alot of negativity in the media these days and there's no question thatn there is a lot of pressure around in the mortgage and property markets. Foreclosures are up etc. and lots of people feel helpless, when they actually aren't.
I wanted to share a little more possitive info with the community as well as a little personal story from myself to help back up what I'm saying and let people know there is hope!
If you're struggling with debt and mortgage payments, take a read, and I encourage you to pass this post on to anyone else who feels trapped by their situation -
Keep your chin up, you DO have options! The thing you need most in this life is hope, without that nothing else matters, and with it anything is possible - because you won't give up as long as you have it. As someone once told me:
"it'll all be OK in the end, if it's not OK you just haven't reached the end!"Anyway - on to my main message.
Low start up cost businesses are very popular in the current economic climate. Redidential property prices have fallen and pressure is on
mortgage holders to make ends meet. a life with
no more mortgage seems pretty far out of reach for most people, but it could be closer than they realise if they are willing to take the initative and look for opportunities in the market.
Refinancing your mortgage if you are able to can provide start up capital for a new enterprise, however many people struggle with this given drops in equity caused by sliding property prices. If you can't get a
cashout refinance to start up your business you may need to look at some of the low start up cost options like affiliate marketing or web based businesses. The advantages of a web based business are many. Low start up costs and minimal ongoing overheads are big factors, but balancing this is the steep learning curve invovled.
If you're willing to look for the opportunities and take control though, there are options out there, and they could help you avoid
foreclosure on your
home mortgage.
In essence, the best thing you can do is take control of your situation as much as possible, both by
boosting your earning capacity and learning about what your
debt management options are to keep afloat in the mean time.
Loan modifications are a great option when a
refinance is not possible as they are intended for distressed mortgage holders facing
foreclosure. If you can't keep on top of your payments a loan mod may be the life line you need.
If you're looking to start making money online, there are many ways to go, but the simplest is domain parking. Buy a domain and park it with a parking provider like
Parked and any time someone clicks on a link on your page you earn a commission. The start up cost is low - very low and you don't need to know much. Parked is also one of the best parking providers around and very reliable. If you can pick up a domain that gets good traffic you can make a tidy return this way. You can also sell the domain later.
Domain parking isn't likely to get you
mortgage free any time soon by itself, but it can help subsidise other online ventures such as website development and search targeting - think of it as a source of "seed captial". These are more complex but potentially more rewarding and can lead to decent increases in cashflow. Getting noticed in competitive niches like
Mortgages,
Insurance or
Refinance is pretty tough and requires a lot of research which I won't go into here, but it can also be very rewarding.
there are a few great
mortgage loan and
insurance affiliate programs out there that can be very rewarding if you can secure targeted traffic to your loans/Finance website. A the end of the day the moral of the story is this - your financial future is largely in your own hands. Do some research, look at what your online options are and then ACT. Procrastination will stiffle any hope you have of making a success of your situation if you let it.
Whether you plan on making yourself secure through buying
foreclosed homes as investments, or waht to avoid your own
foreclosure through online affiliate marketing or domain flipping - there options out there if you want to look for them.
I can speak from experience when I say that it's possible to make money through domain parking, development and sales. While it's not always the case I recently sold two domains that I'd only had for a few months. They cost me about $1 each (they were .info's), earned me about $50 in income and were then sold for another $150.
This is an honest statement - take a look at
this discussion if you want to see how it went - not "net hype". total cost = $2, total income = $200.
On that transaction I made 100 x my inital investment and look forward to many more higher value transactions.
This isn't bragging, and I'm by no means highly successful compared to other in this field, but I
AM getting there and I wanted to share this as an inspiration to others facing financial hardship. If I can do it so can you!
Anyone who has questions about this, please feel free to PM me or post here and I'll answer if I can. the one thing you need to do is act though - once you have the information and confidence to get started.
Good luck everyone - i wish you all the greatest success.
