I’ve been working non-stop this week, and every week and finally we are starting to move on several things.
My good friend Marques Alexander has really surprised me, I’m very impress with my buisness partner marques who has taken the iniative without ask, and pro-actively building the BeaverRent.com company, which is going to launch for students soon.Â We are out making sales, and presentations to property management companies.
We actually had a chance to talk with the President of Sterling Property Management in Corvallis, one of the largest, if not the largest property management companies in corvallis, we just might be striking a deal. So we are gratiful for their time that they spent with us, it has been great.Â Website is still always in developing, merger with other local student site is going as planned, and we received our filings from the state this week, so next week we are able to open our our LLC’s bank account either at US BANK or WASHINGTON MUTUAL because they do not charge fees for their buisness checking accounts.
BW ONLINE INCORPORATED, is moving also, we just finished opening up our bank account with US BANK, with a $300 deposit and we applied for a line of credit from CHASE bank, if all goes well we should be profitable within about 3-4 months.Â It’ll be interesting to see how this company does, this one isn’t to make a fortune just some very passive, residual and leveraging interest income profit, like a bakn does.
JINGYEE, INC is doing good, website is still generating revenue it is grossing about $500-600/month passive, without working on it.Â My buddy Chris Conkling is doing good right now and we are developing a new site, he is the wrtier currently and I’ll be the webmaster, we hope to expand the rotary engine scene, and create some more websites linked together with similiar themes to create passive income.
WHATEVER I WANT TO NAME IT LLC, is going to be the real estate holding company for my new 5bedroom/2bath house located in NE Portland, OR. That will be an income property.Â We are currently dealing with the oil tank situation right now, it it possing some problems and delaying closing, but after it is all said and done we should be in there by the 30th of this month, or next month on the 30th.Â If I’m projecting correct, modestly, the house even as it is right now is creating aproximately $2,000 a month passively in equity.
I’m reading Ryan Allis’ book ZERO TO ONE MILLION , it is quite impressive to see another entrepenuers story right there in a book at a similiar age level, he is about 2 years older than me, although he is further along than me of course even at his current age level, its nice to know that I’m on a similiar pathway, thinking and mindset as he appears in his book, IMHO.
I plan on going back to Central Catholic HS, I did it once last year 2x to speak to the entrepeneurship class there, that has been great.Â I plan on going to Grant HS, and Central Catholic HS, to donate time and try to help high-schoolers learn entrepreneurship and help them get started, those who are aspiring buisness owners, to get going, and help others.
I just re-organized my home office, I purchase a new laptop for $600, WideScreen 1.73ghz, 1gb ram, 100gb harddrive, all that stuff, strictly for accounting.Â With the 4 companies, its going to be difficult managing finances.Â I also purchased two backup harddrives, because as Ryan Allis says in his book, you’ll lose your stuff once and realize you need backups, well last time my backup hard-drive failed, so I purchased TWO.Â If two break I’ll be damneD! but they better not!
I should be in line to make at least $5,000 a month PASSIVE by the end of this year, I’d like to do $10,000 and just haven’t quite figured out how yet, how I’ll do that, I’ve been making some plans, but at least $5,000, sounds like I need more planning to do.