How to make money without money?
By Chris Emman on The Capital
Based on the minds of the Multi-Billionaires we now have today.
You can start making money even if you’re in debt or struggling financially. Because, you can use all that as a motivation to generate ideas, so instead of saying “I can’t pay my debts,” start asking yourself “How can I pay my debts?”
There are many ways you can earn money even without having one and these are the ways you can start earning money even if you don’t have money to start with:
Borrow Money — You can borrow other peoples money to make money. You need to know where you are financially because the bank’s gonna look at your (N.O.I) Net Operating Income, your income minus your expenses. Because that’s what they want to see, the number to be able to pay back any debt you want. It’s more like credibility, that you can pay the debts that you might want, so the bank can lend you money. However, if you have bad N.O.I the bank might not lend you, but, even if the N.O.I is negative as long as you have a plan that creates value the bank might lend you a loan. There are still other ways you can borrow money from, you can borrow from a friend or a family member, and then what you do with that money, you can get a rental property, get into real estate, start a business, and many different ways you can utilize that lend money for. And once you have a good N.O.I you can go to the bank and show your financial statement so you can borrow money and when they lend you can use that to pay off your debts to your friend and use the remaining dollars to scale your business or your property because the more N.O.I you have the more loan you can get from the bank.
How to make Money without money? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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