HOW TO START UP A SMALL HOME BUSINESS
Are you wondering how to start up a small home business? What things do you need to consider? Find out if this is right for you and how you can get started!
Nowadays, more people are asking, “How can I start a small business at home?” or saying, “I want to start a business, but have no ideas.”
I’m Ted Thomas, and I’ve been involved in the home business for more than 30 years. Specifically, the business is a subset and an alternative to the traditional real estate business. I’ll give you a lot of the details about the business before we finish.
Today I’m discussing your question about how to start up a small home business. For sure, there are many benefits to working from your home.
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HOW TO START UP A SMALL HOME BUSINESS – THE BENEFITS
Let’s cover a brief starting a small business from home checklist of benefits and challenges, beginning with the benefits.
To start with, you won’t need to sign a long-term lease on a commercial building and pay a lot of rent.
You’ll feel safe and secure working in your home, maybe from a small room, your basement or your attic. We’ll work that out.
The majority of my clients have allowed themselves a well-furnished office. Sometimes it’s an extra bedroom, and it’s comfortable.
HOW TO START UP A SMALL HOME BUSINESS – WORKING REMOTELY
Today it’s easy to telecommute and use the internet.
Zoom has made the one-on-one connection much easier, and it’s a pull-down cost of doing business, however, it’s not perfect.
This isn’t a free ride. You’ll need to purchase the right computers, the right office equipment, and you’ll need to set up WIFI.
HOW TO START UP A SMALL HOME BUSINESS – FLEXIBILITY
Working from home has many advantages starting with your work hours. Flexibility is almost a piece of cake because everything is close at hand.
If you happen to be an early bird, you can work in the quiet of the early morning.
You have no worries about security or arriving at an empty office building that’s all closed up and may not have security or secure entrances and exits.
When you finish early, you won’t have a long commute, and you won’t have to wait for the car pool. Transportation is your own two feet.
HOW TO START UP A SMALL HOME BUSINESS – COST EFFECTIVENESS
Someone has told you about an income tax deduction. If that’s your motivation, forget it. It’s not that much money. I personally don’t see the big deal in what they call a home deduction.
However, here’s what I do see. The commute time is a huge time vampire that can make the home office valuable.
Think about the cost of an automobile. Is gasoline prohibitive today? Just think what it is headed for? What does it cost to fill a tank and how much time is spent on the road? It’s all adding up to be a lot more than a tax deduction.
HOW TO START UP A SMALL HOME BUSINESS – NO COMMUTING
Yes, I know, some people take the train. That can be a good experience, or it can be sour and bad.
I know people that take a train, and no one’s allowed in the commute car unless they have a briefcase or a newspaper. No children, no tourists. It’s a quiet place to work.
I also know people that take a different form of public transportation, a bus or a subway. There’s an experience that will give you something to talk about. It’s not always pretty.
Working from home is still the best deal. Zoom and telecommuting are more than satisfactory, even if they have some challenges.
Starting a business from home is easy. The challenge is can you keep it going strong?
HOW TO START UP A SMALL HOME BUSINESS – THE CHALLENGES
Now let’s talk about how to start your own business from home and deal with the challenges.
Work, even if it’s from the comfort of your home, isn’t suddenly going to be perfect.
HOW TO START UP A SMALL HOME BUSINESS – DISTRACTIONS
Think about distractions. There is family. There are the kids and older parents.
You’ll need to give them orientation training. Because if they see you sitting down, they think you have time for them and they’ll want to talk and visit. This may be just the opposite of what you want.
Beloved family, at this point, is what you don’t want if you want to generate revenue. No revenue means you produce no results. Expect to put your personal discipline to a bit of a test.
HOW TO START UP A SMALL HOME BUSINESS – PRODUCTIVITY
As for yourself, when do you produce the most work? Where do you produce the most work, the office or on the couch in front of the TV?
For most of us, it’s when we are undisturbed, alone and comfortable. You’re at home, but you’re at work.
You choose the environment at home. Other than moving around, your space is your space. Do you want to be near people who are talking and visiting, or do you want to work alone? It’s your decision.
You will choose the place. Only you can decide to be alone. If so, you must develop discipline regarding all the people in your family. Face to face they will all say, okay we understand. The problem is 10-minutes later, they’ll be back to being a family.
HOW TO START UP A SMALL HOME BUSINESS – SELF-DISCIPLINE
Here’s what you need to know about how to start up a small home business. It involves strength to design and develop and discipline for your whole family, or maybe you’ll spend your time in the garage, the attic, or a basement that’s off limits to the family.
Then you need to consider, can you be alone? No one to visit with for hours, no one to gossip with.
What about the social time you had working at the office?
What about birthdays, weddings, chit chat, and gossip? Will you miss all that? After all, everyone wants to discuss their important items.
HOW TO START UP A SMALL HOME BUSINESS – MY DISCOVERY
Here’s what I discovered. I found a business 30-years ago that works to make money. I can do it alone, focus 10 hours a week on it, and it always works. It makes serious money. For 3 decades, I’ve been sharing it with others.
I’ll give you a bird’s eye view so you’ll understand. Once I discovered this business, I never looked back.
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HOW TO START UP A SMALL HOME BUSINESS – ALTERNATIVE REAL ESTATE
This business is a subset of the real estate industry. It’s an alternative to the traditional real estate that everyone understands.
The local county governments have been effectively administering this business for over 200 years. It’s not for everyone. It’s a little-known, but highly lucrative, business.
I have student investors, adults that earn $25,000 to $50,000 repeatedly, and some make as much as $100,000 on one transaction. However, most make $25,000 – $40,000 per deal.
Most do the business from a home office in their basement, although some use the kitchen table or a small bedroom.
HOW TO START UP A SMALL HOME BUSINESS – TAX DEFAULTED PROPERTY
The business works like this. Keep in mind, I’m being brief.
All 3,000+ counties in the USA are authorized by the state legislature to conduct this business, and the county government conducts the business at public auctions. It’s all very transparent.
The state legislature makes the rules for real estate. All property owners are required by law to pay property taxes. This is a small wealth tax of only a few percent of the property value, and it’s due and payable to the local county every year.
Amazing as it sounds, property owners walk away from perfectly good real estate when they don’t pay their property taxes. I don’t know all the reasons why, maybe they lost their jobs, possibly they were sick. Maybe they passed away.
I do know the local county needs the money from property taxes. The county pays the county employees, police, firefighters and school teachers. The point is the county needs money.
Delinquent property owners walk away from properties. In many cases, they abandon the property. Many properties are lived in, and many are close to perfect. However, some properties are junk. Don’t buy junk.
HOW TO START UP A SMALL HOME BUSINESS – TAX DEFAULTED PROPERTY AUCTIONS
After a county has issued multiple default notices, the tax collector/treasurer is authorized not only to levy and collect taxes, but also authorized by the state legislature to seize property that is delinquent on property tax payments.
Once the eviction of the resident is completed, the treasurer will auction the property with a starting bid of very close to the back taxes.
This is not a mortgage foreclosure. This is a tax defaulted auction. The properties are sold for 60%, 70%, and 80% discounts below the tax assessed value.
HOW TO START UP A SMALL HOME BUSINESS – MORTGAGE-FREE PROPERTY
The county wants to be rid of the tax delinquent property, and they are authorized to sell to the highest bidder. Sometimes that’s only 5 cents, 10 cents, or 20 cents on the dollar at a public auction.
The treasurer cancels the mortgage or deed of trust loan. The auction buyer only pays a highest bid, which can be as low as 10 or 20 cents on the dollar
HOW TO START UP A SMALL HOME BUSINESS – A PROFITABLE ONLINE BUSINESS
For 30 years, I’ve been teaching newcomers how to buy and resell online and offline from their home office. For people wondering how to start an online business from home, this is something that can be done online. A lot of the auctions are online these days.
It’s also an excellent business for ladies sitting at home. Many of my most successful students are women.
This site is filled with how-to articles so you can learn how.
CONCLUSION
We hope you enjoyed Ted’s lesson, “How to Start Up a Small Home Business”
Working you own business from home has its benefits and challenges. On the plus side, it’s safer, more cost effective, and flexible. You can choose your hours and don’t have to brave traffic or pay for high costs of commuting or renting office space.
On the more challenging side, you will have to be self-disciplined, learn how to deal with distractions, and set boundaries on the people living with you.
The internet has made it much easier to do business from home, including the business that Ted works, a business that can be done online from home, 7 to 10 hours a week, and is highly lucrative.
30-years ago, Ted discovered tax defaulted property, a little-known niche of the real estate industry. He found that he could acquire real estate for pennies on the dollar via tax deeds, and that with tax lien certificates, he could earn interest rates of up to 36%.
Tax liens and tax deed properties are sold at county auctions all across the United States.
At a tax deed auction, it’s possible to purchase mortgage-free real estate for 10, 20, or 30 cents on the dollar, enabling you to sell the property fast at a discount for quick cash flow.
If you’re looking for the best business to start with little money, tax lien certificates are sold in a wide variety of amounts to suit every budget. You either get paid the high rate of interest, or you get the property, and you get it without a mortgage.
If you’d like to learn more about how to start up a small home business investing in real estate, there’s no one more qualified to teach you than Ted Thomas, America’s leading authority on tax lien certificates and tax defaulted property investing.
Ted Thomas is the only one who provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops & web classes, and personal one-on-one coaching.
Get started today at no cost with Ted’s FREE Master Class, that reveals the incredible opportunities available in tax lien certificates and tax defaulted property. The class is only about 1 hour of streaming video and contains life-changing information! You can’t afford to miss it!
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