Over the years I've read soooo many books and blogs and magazines about investing. I think I started around 2001 ish. I actually read Louise Hay How To Heal Your Life AND the Rich Dad books at the same time which is interesting. I say that because so MUCH of how we PERCEIVE money or abundance is RELATED to how we FEEL and the beliefs we create. If we're in a crappy space or depressed or feel limited in some way, then so we are. You know that old saying, "you get what you give". Fully applicable to income. While recently completing the Prosperity Experiment in September- October the whole PREMISE of the program was to recognize how participants FELT when confronted with various statements about money and income. Brought out some really clarifying realizations for people that they themselves are not seeing the opportunities and abundance around them (*points at self* knows she isn't innocent here*) or seeing the big picture or causing or allowing self limiting beliefs.
Must've been around 2004 or 05 that I found franchise websites like Be The Boss.ca and Canada Franchise Opportunities.com. So exciting to find out you can purchase a Subway franchise for a nominal investment of $50-100,000. Oh, don't think that's expensive- what do they generate? Depending on location and demand (um, open next to a highschool, hellooo?!) you're looking at good coin. I see locally that a WOK BOX just opened in our area- another franchise requiring more capital (200-500K to get in) I think whatever you get in to you need to know your neighbourhood, the shopping trends, their habits, their likes and dislikes. You need to know your audience, have a realistic expectation of profit and invest your time doing your homework before you get into it.
Personally I'm starting with real estate but long term I'd like to expand into other venues. I was just talking to someone the other day about getting into an investment club with other like minded people. The best advice you can get is from others who have been there, done that. I know some investment clubs that also POOL their financial resources (*not me, too scary at this point*) to invest in larger transactions. Having said the whole "not me, not now" thing, in the FUTURE when I have financial legs to stand on, I would WELCOME the opportunity to work with others. I think it would be stupid to turn away opportunity. Yes, of COURSE you would need a lawyer on tap when monies are co-mingling, but hey- with 3 established investors you could own a McDonalds franchise. No small fries there (sorry, couldn't resist...) Costs a pretty penny to open those with 300K in CASH required plus further equity and financing...
Whatever you DO get into you must believe in it, have passion for it, and talk about it like it's one of your own kids. You have to invest in something that you are passionate about. Something you LOVE to talk about. A place you LOVE to eat. A thing you LOVE to do. A product you CANNOT live without.
That is the holy grail.
Doing something with purpose that you love, for life, that rewards you.