This is a live video recording on Free Financial Self Instagram followers Live every Wednesday @FreeFinancialSelf.
Here is the full text of the video:
Hello everybody! Welcome to another live Q&A session of Free Financial Self.
This is Shlomo here. I’m glad to be here. This time I’m on a different town in Israel where I lived. And this is how it’s gonna work.
I have one question from a follower that I’m going to answer. And then whoever comes in and have a question, we’re going to join them.
So we gonna have one question that I will answer from a follower and then somebody who’s live and wants to ask a question I can actually add them into the live stream and they can ask live. So we’ll do that this way.
So, I have a follower his name is Sash I don’t know from where he is and he is asking,
How to choose a potentially successful project for financing?
That’s a good question and the question.
What is actually successful for you?
What that means?
How much you wanna earn from that project?
This is what you need to assess: So as an example,
I’ve been looking at real estate deals. I’ve been looking one in Thailand about a year ago. And I’m also looking in Portugal a few months ago and trying to see which one of them I prefer.
So as example,
I found out that you are able to buy an apartment in Thailand for around $60,000 dollars and if you rent it out on Airbnb you make about 20% a year on that.
On the other hand, I’ve heard that in Portugal you can only make about 10% with very large project. If you want more than that you need to [have] very very large project which obviously individual don’t have the money for that. And then I discovered you can go up to 17% but that’s for complicates.
So it’s really depends of the complexity, what you have in mind and how much you really wanna make.
So personally, I think that the talent project is actually better. And I’m gonna keep looking into those versus the Portugal once but some other people would say you know it’s too risky for me in Thailand, Southeast Asia know nothing about it maybe, I’m from Europe and feel more comfortable doing it in Portugal. That’s okay because you’re feeling comfortable with this and this is what risk is for you. So that’s very important to define.
So Sash I hope I answered your question.
And now we’re opening it for questions from the crowd and I’m going to bring somebody live here if I have somebody who wants to ask questions. So add yourself in the comments and say I have a question and then I’ll add you. This is the first time me doing this.
So that would be cool. Let’s see. If I have a candidate.
C’mon don’t be shy.
What do you think about the vending machine business? Okay, the vending machine business.
What is the ROI per year?
What’s your initial investment?
Can you give me more details about that?
What’s the competition like?
How complicated it is to manage this?
These are questions that you need to think about when you are starting your investment.
Are you only the investor or also the operator?
What are you selling?
Is this something that is very easy to find somewhere else?
Did people tend to buy this in vending machines?
The question is people are used to buy these in vending machine.
As example in Israel,
A few years ago started something like simple grocery stuff through the vending machine in train stations because people go to work in the morning and they use the train and then they just buy something yogurt and something that we need here in Israel used to as things you need in the morning just like on the go.
People got used to buy that and people do that.
My father does that as an example.
So this is an example of something that wasn’t sold in the vending machine then, start it being sold it in the vending machine successfully.
So all these questions, there are things that you should think about to start your business.
I hope I answered your question. Okay, we gonna end up here.
This going to be live for the next 24 hours I have this live session every Wednesday though today is Thursday. But that’s a one-time thing.