I am a professional but have quite a few investments starting out: real estate and a couple of websites. But the money is coming slowly. And the other day I found out that one of my associates had purchased Cisco Systems stock when it was first offered and since then it had split many many times and when he sold it off a few years ago he made a tremendous profit. So this stock market seems like an interesting place to invest, but seems like you need some great luck to hit it as big as that friend of mine.

What have you folks done to amass wealth?

 

Real estate, investing in a dozen pre-construction condos in Miami, and Google stock.

 

Can you expand on that a little? What do you mean real estate? For instance here is what I have done so far. Take into mind that I am still in my early/mid 20s. I purchased a condominium (no mortgage) and lived there for a year. Then I purchased another townhouse a few miles away and am living there while renting out the first place. The rent for the first place covers my mortgage for where I live now. So basically the tenant is paying off my mortgage for me. I hope to do this again soon, meaning buy another place and live there while renting out both my first places.

That Google stock is crazy. What is it at now? I cant believe the huge jump it made after its IPO. My plan is to hopefully find that new technology company, (Cisco, Microsoft, etc) thats going to have a meteoric rise and hopefully I can catch it early enough.

 

Long term investments in the stock market, working my ass off to get a scholarship/free ride through school, turning my hobby as a photographer into a mini freelance thing by selling prints.

I'm still a student (21), so haven't really had time to really really accumulate a ton of investments, but you have to start somewhere.

 

bet on black.

 

^ Good plan.

In my case, I've been purchasing condos mainly in the Downtown Miami and South Beach areas at pre-construction prices. Condos like Blue Condos (http://www.bluecondos.com/), Jade (http://www.jademiami.com/) and Neo Lofts. So I buy them at pre-construction prices for $300K, for example, when construction is completed in a few years, it will be worth significantly more at $400K. I can rent it out or sell it and make $100K in profit easy. Because Downtown Miami is being totally redeveloped, these pre-construction condos are very hot in the market currently, have been and will continue to appreciate rapidly.

I already sold one and rented out another at Neo Lofts.

Google is at $174.30 currently, more than double of its initial IPO value.

 

If you into real estate...I would recommend multi-plex building. If you crutch the number they usually have better cash flow. Also one think to think about with condos is the monthly dues...as they will alway rise, if you are thinking long term with these investments.