Image Credit: Property In Europ

I know this title sounds horrible. As I am on my way to invest more real foreclosure properties for rental and cash flow, I also have bunch unwanted Internet Assets and Web Properties to get rid off. A successful entrepreneur should knows when to get started and when to exit. I am about to lose my control and destroy my own hard work by owning too much garbage web properties.

It’s almost 2012. It’s time to review what I got myself into in the past 6 years, and how I plan to clean up my own inventory.

Here are the accumulated assets in the past.

• 30+ registered domains. This does not include subdomain and those domains on blogger, tumblr, wordpress.com and so on.
• 15 active websites, including my personal blog, digital photography blog, online stores, passive income niche directories using DirectoryPress, business websites, few clients website.
• 15 inactive websites that I have no time to implement
• 70+ third-party websites on other domains for SEO and automation purpose
• 26 Twitter accounts
• Maintaining 40+ Gmail accounts for different purpose
• Operating 4 Google Voice #
• Managing Several Facebook Accounts for different businesses and clients
• Administrating 21+ clients’ Facebook fanpages
• Monitoring 21 personal profile page all over the place on Internet. Thanks to my pool management of personal branding strategy.

I know what you will say. What a mess. Honestly, this is how I got myself in troubles.  And it certainly was the main reasons I can’t move faster on my major projects. This is the #1 cause of self-excuses not to move on. It is simply too much work to do and I chose to do them all. And I end up get nothing done!

So now you know. You should not make the same mistake like I did here. It’s time to clean them up or just get rid of them.

Other than those inactive web assets, domain hanging there generate no cash flow. The rest of are actually not that bad. Most of them do generate Google Adsense income and some are creating monthly recurring passive income. The biggest issues is that I miss use my time on not-so-profitable projects and miss my own deadline on the profitable projects. On the other hands, I was spending too much time on Facebook and Google+ trying to get something out of there. I truly wonder how much pro-claimed social media expert got from those two places.

This is the biggest mistake!

The reality is this. If you have to spend 40+ hours a week working your ass off to achieve your dream. You are NO success entrepreneur. At least, you are just a slave of your own creation. From my perspective, a really successful entrepreneur achieves their goal and have time to spend with their lovely families, friends and enjoy their life without work. That is how the 1% lives!

I need to foreclosure or short sale those unwanted properties. At the end, there will just be few projects to work on.

1. Real Estate Property Investment
2. Project A -Internet advertisement
3. Project B – Niche Directories
4. Project C – Content Distribution and Automation
5. Project D – Luxury and High End Online store

This is going to be enough for me to focus on! I also need to fire some customers that keep dragging me down. That’s for now.

How many Internet Assets or Web Properties you currently own? Do you overly brand yourself and end up not going anywhere? Tell me how you solve it!

It’s been a while since my last post about personal choice to be the 1%. It’s the end of 2011. Time to review the 2011 achievement and plan the new 212 action plan. What I have learned in 2011 has brought me a new perspective of entrepreneurship.

Here is the reviews of 2011.

• Project A generates triple profit than last year. However, it’s not significant enough to call it a success. In fact, it still sucks.
• Project B has never take off. It’s primary due to my procrastination and lack of motivation to write the program
• Free open source shopping cart is a bad choice to run an online e-commerce store. You’ve got what you paid for.
• 60% My Tax lien investment has returned with average 5% profit. This is much better than putting money in the bank
• Really learned that being an affiliate marketer won’t lead you to the 1%.
• People is the most important key to your success in the business world.
• Procrastination is the #1 key to failure.

2012 is almost here. My goals have not changed, but the action plans do.

• No more procrastination
• Networking with the right people
• New strategy on Tax Lien Investment. The goal is to get average 9% return.
• Real Estate Investment on Foreclosure and REO properties
• Turn project A into an offline affiliate network
• Re-invent project B
• More Exercise And More Golf
• Revive the failed online store businesses
• Start niche project C

Honestly, I am new to the real estate investment. I am so shocked that there are tons properties going foreclosure auction in late 2011 and most of them are postponed into 2012. It means there are more house available at cheap price. It’s never a better time to buy a property and turn that into cash cow.

For example, a $2M house that owes $3.5M was sold at auction for $660,001. The opening bid is $660,000. Obviously, there is no one bidding on that property. So the winning bid is just $1 above the opening bid. There are so many house sold like that. Now the $2M house was resold 3 months later for $1.8M. So the $660,001 investment has about $1.2M return. That is just amazing return in 3 months.

That’s is how the 1% stay as the 1%, while the 99% are still complaining about the economy and lack of opportunities.

To do very well in the real estate investment isn’t an easy task. However, it will be much easier once I finish my first deal. It has something to do with PEOPLE. If you have connection with the right people, you can get more information faster and get the deals done faster.

I shall have my first investment property very soon. I know 2012 is going to be a great year for me! Stay tune!

Lately, I discovered the High Dynamic Range photography (HDR) and start playing around the concept on Photomatix Pro on my new digital photography blog on Outography.com. I now have perfect excuse to take a lot more photos. I am also planning a trip to the east coast and Caribbean in the coming weeks. I am sure I will create more HDR images soon.

My two of many Tax lien investments came back. It wasn’t very impressive, but I now learned how it really works and how to best invest on those properties. The return was not good due to the amount of the investment and the time spent on getting those properties invested. I sure can do much better job next year.

My project have not really going as strong as I expect, but the passive income has grown steady.

Feel free to visit my new digital photography blog and give those photos a rating.

This is going to be a short update on what I have done in the past 100 days to change my life as my 2011 resolutions.

I have to admit that my life has not changed dramatically, but I have achieve some of the goals.

• I am very close to my ideal body weight, which is 147lb.
• Eat healthy at home 5 days a week.
• Join golf membership and commit to practice twice a week.
• Officially becoming a Real Estate investor.

One of the achievements is to use my money to roll into bigger money. I truly believe that rich people will become richer faster, if they really put their money in the good use. Building a wealthy life can not be done by 9-5 full time job or 401K. Investment is the only way to accomplish that.

Recently, I invested some spare money on the Tax Lien properties. Now I am the lien holder of 5 properties. The return is only 5%, which is still better than putting money in the bank. I also don’t hope to own the properties free and clear. It will take too long to get return. It may seem like a small amount of return, but it grows bigger when you put in more fund. I have seem investor putting $m dollar and getting 13-16% out of it. I am still new to the tax lien sales investment, but I am moving fast. It’s much lower risk than investing on stock option.

My target properties has the following characteristics.

• 100% residential property
• Built after 2000
• Has good records on paying property taxes.
• Face value is between $4000 and $10K
• Improvement value is greater than $300K.

It’s amazing how many individuals and companies are investing tax lien sales. With housing market going down, the opportunities are much greater now!

The tax lien sales isn’t really that difficult to understand. Especially, it’s all done online. In the next few days, the clean-up sale will be held online, which will give me more opportunities to win the auction at 16% return. I have my eyes wide open and finger crossed.

My next goal is to increase the sales of my online services. Being an affiliate marketer in the past to sell other people’s products, I am finally moving forward to become the provider in the affiliate marketing world. It’s inevitable trend!

That is for now!

Last week was a short break week. I did not make huge progress on my projects. However, it was one of the best week in 2010 so far. I read a book that was recommended by other like-minded people. Yup! I read Rich Dad, Poor Dad.

I have heard a lot about Robert Kiyosaki and his books. I also know he was very rich by investing real estate and many other things. That’s exactly I was thinking to do for years, but I thought I was never good at it. So I have not done anything with it in my life. It’s time to do it now.

My wife and I spent 3 days finishing the entire book. I have done a lot of thinking. One thing I really learned from the book is what a true entrepreneur should do. It’s not about managing your products, it’s about manage your cash flow, people and personal time. Now we need to find out how to apply all those three things into our plan.

The more we think, the more we believe that investment is the only true way to have financial freedom.

Here is what we will be focusing on:

• Increase our financial IQ – I am pretty good at math, but I have never apply that into the real world number game.
• Start small and buy our two rental properties before the end of 2010. It must keep our cash flow positive, otherwise, there is no point to buy.
• Invest on people who can actually help me create positive cash flow.
• Continue our Internet business, which is generating real passive income.

First thing first. To be able to focus on the above tasks, we need to do the follow.

• Evaluate our current financial status
• Find our strength and weakness when dealing with risk.
• Find what we are interested in and find profitable item to invest

We know we are above most middle class people. Our financial status are strong, but our fear of taking risk is our weakness. We think the fear is due to lack of knowledge about the risk we are facing. The only way to get rid of the fear is to face it and study it.

By studying the challenge and become the master in that field will push all fear away. Like Robert said in the book. The more you know about it, the easier you will get to it.

Besides the rental properties, we are also looking into virtual properties on the Internet. Don’t ask me what it is. That’s the secret, since I am know online business fairly well. What I can tell you is that it’s not about buying domain, flip web site or building article directory.

Have you read Rich Dad, Poor Dad? What have you done to create your cash flow?