LIVING OFF DIVIDENDS & PASSIVE INCOME

Thank God the week is over! I had to rush to raise $100k for an oil deal in TX that I’m working on. I thought I had more time, but it turns out we had a competing bid for a LOT more than our bid on the same project, so basically we only had 7 days. Well, I got the money in 3 days!!! Quite hectic though.

Readers will probably ask me what the deal is so I’ll tell you. We’re uncapping on old well that should produce about 10-12 bopd[barrels of oil per day] and then use that as collateral to borrow $250k from the bank to drill a brand new one, which should generate 125 bopd. If all goes well the investors will make a 20 fold return and I’ll get a small cut of the action too!

Also of note is that I turned in my resignation today. Quite a surprise to my co-workers, but I have a position at a friend’s company which has more flexible hours so I can do more of my investment stuff! Definitely a step in the right direction. It was such a rush! Can’t wait for the day when I can quit for good and focus on my investments 100%.

Anyway, there’s no rest for the wicked. I now have 2 weeks to raise another $200k for another oil deal I’m working on in another state.

• And The Winner Is Inflation! As I mentioned in a previous post about Exxon being the new whipping boy, I'm trying to find out whether the US economy is more likely to head into an inflationary period or slip into recession.Based on several sources, I feel we will see inflation. According to Financial Sense,the U.S.......
• Merry Christmas Having finished off with Thailand, I'm now in India on the second leg of my vacation. Right now I'm attending a cousin's wedding. Unlike western weddings, an Indian wedding is a 3-4 day production with various ceremonies, parties and gatherings before the actual wedding. It typically includes lunch and dinner......
• Investing In Oil I spent most of Saturday listening to an investment presentation by some oil guys from Texas and Oklahoma. I come in contact with them on a previous deal. At that time I had shown their investment presentation to my CPA (who usually turns down every investment I show him) and......

• I'm Saving By Bringing Lunch To Work So as you know, we're living off of one income now as my wife took off from her education job to stay home to raise the kids.  We've been looking for all sorts of ways to cut expenses to make my salary stretch a little farther. One thing I've......
• How to get More From Your Work in a Down Economy If you are still employed, you may feel lucky and cursed at the same time. This is because while there are less people in your office, the workload is the same. With less people in the office, you have to do double and in some cases triple the amount......
• In Defense of Prosper.com - Other Common Complaints Rebutted (Jonathan at My Money Blog has a very in-depth two part review of Prosper.com. My Money Blog is one of my favorite sites, which is why it’s in my blog roll and feed reader. It’s worth familiarizing yourself with that article before continuing here with my rebuttals.) Jonathan notes that......

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