Hello from Canada!
  • Hello everyone,

    My real name is Nick, and I’m from the Toronto-area in Canada.

    I managed to save up some capital, so I’ve been looking for ways to convert it to passive income and generate cash on-demand (a cookie-cutter way of reliably generating money whenever I want it).

    The last couple of years I've worked in IT on the network, server, and workstation management side. I’m completely new to this field, with no previous experience in IM, SEO, or website buying/selling/building/management (well, I have purchased a domain name for creating a personal website but haven’t done anything with it yet).

    I recently picked up both KFS and BASW, gone through them once, and am now studying them in depth. In the past, I had done some reading on real estate investing, which made the concepts of investing in virtual real estate easily understandable to me.

    Both KFS and BASW are fantastic courses! Very high value and content rich. I was a little concerned with the possibility of too much overlapping information (I got KFS first and decided on BASW after), but this wasn’t the case. Each course has a different focus, and goes into detail on different aspects of the business.

    Right now I’m focusing on thoroughly learning the material, developing my ability to quickly assess the value of different sites and markets, and coming up with a business plan.

    My financial goals are:

    To achieve financial independence (keeping in mind that this does not need to be a high number, as it is simply the point at which net passive income exceeds living expenses). Let’s call that around $4,000 to $5,000 a month.

    After that, I’ll focus on increasing monthly passive income in steadily increasing amounts:

    $10,000/month and about ten times that in liquid capital, so about $100,000.
    Then increasing that to $20,000/month plus $200,000.
    $50,000/month plus $500,000.
    $100,000/month plus $1,000,000.

    (I understand that this isn't 100% passive, as some maintenance will be needed and that I will be continuing development to improve the value of sites.)

    Buying and selling websites over the longer term (a year or so) is more of a fit for my temperament, so I’ll probably focus on that, while doing quick flips on the side whenever I want to generate some cash.

    I'm looking forward to getting involved in this and making a contribution here.

    Post edited by Unknown User at 2011-09-13 18:15:18
  • Nick,

    Great to have you on board. Thank you for the feedback on the courses, it's appreciated. Mind if we use it as a testimonial on our site?

    I love how you've laid out your plans. Once you get comfortable with the courses, please circle back with me and let me know how we can help you achieve your goals.

  • Thanks Chris,

    Sure, feel free to use it (or any part of the post) as a testimonial.

    I appreciate the support you offer here, and will let you know if there's anything I need a hand with.