America's Best Young Entrepreneurs 2008

[PAshortie]

Just a little motivation for you youngters...

"Daniel Negari, 22, invested in an Arizona property that soon appreciated $150,000. He refinanced to get a $100,000 line of credit, which he used in 2006 to start Beverly Hills Mint, a high-end real estate finance business brokering commercial and residential loans worth $5 million or more. The company now has 14 commission-only brokers and two employees, including Negari's mother, Berta, 47, whom he brought on board late last year. Negari says Beverly Hills Mint took in $650,000 in 2007. Despite the credit crunch, he finds that business is booming at the top of the market."

America's Best Young Entrepreneurs 2008

 

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[lightning]

GREAT article! Speed++ for that one!!!

I LOVE this part.... (this paragraph may entice others to check the link, as it relates to PLENTY of threads we have discussed here!)

"In many cases, young entrepreneurs aren't starting a company right away—they're starting a Web site and seeing if it works," says Fishback, 30. "We've been seeing kids creating businesses for a long time, but most were service businesses that were difficult to scale. The Internet is the great equalizer." That was the case for Artia Moghbel, 21, who built a Web site during his senior year of high school for his English teacher, who wanted to distribute a 70-page reading assignment without having to make photocopies. At the time, Moghbel didn't realize he was laying the groundwork for SchoolRack, an online service intended to make it easy for teachers and students to communicate outside the classroom. He expects the business, which broke even in February, to bring in $1.2 million in revenues in the 2008-09 academic year.

 

[NoMoneyDown]

Great article. I read read somewhere that people generally have the entrepreneur psyche in their late teens and early 20's, and then generally become less "gung-ho" as they age (a good example is Bill Gates). Certainly not everyone fits this mold (e.g., Col. Sanders founded KFC when he was 65+), of course, but it's the general trend coinciding with years of evolutionary traits (not a direct paraphrase from what I read, but from what I remember).

 

[djs13]

I really liked the story about the 22 year old mortgage guy. He's basically running his own bank right now. And he can't be that effected from the mortgage crisis since he's dealing with the super rich of California.

 

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[PAshortie]

GREAT article! Speed++ for that one!!!

Thanks for the speed. I liked the slideshow; the candidates that were selected had great business ideas.

I really liked the story about the 22 year old mortgage guy. He's basically running his own bank right now. And he can't be that effected from the mortgage crisis since he's dealing with the super rich of California.

He must've read the cash-flow quadrant a few times :eusa_clap:. I remember RK really stressing the point of "being the bank".

Anik Singal had a good story also; never thought a person could get business ideas from an online forum. Go figure :smug2:.

"When Anik Singal was a pre-med student, he decided medicine wasn't for him—much to the chagrin of his parents. Instead, Singal wanted to try his hand at business. Determined to support his business venture on his own, he searched the Web for ways to make money and found a forum where he says he was thrilled to learn that people were "making six figures from their basements." He learned all he could. Soon he was doing consulting, with the plan to self-finance his own online venture."

 

[randallg99]

Great article. I read read somewhere that people generally have the entrepreneur psyche in their late teens and early 20's, and then generally become less "gung-ho" as they age (a good example is Bill Gates). Certainly not everyone fits this mold (e.g., Col. Sanders founded KFC when he was 65+), of course, but it's the general trend coinciding with years of evolutionary traits (not a direct paraphrase from what I read, but from what I remember).

I think the psyche changes not as a result of the age, but as a result of the commitments...

a very successful business requires a lot of time and energy mostly at the expense of: traveling, partying, family time, golf, sports, x, y, z, etc....

I know as I have "aged" (gulp) my focus has shifted somewhat from real estate investing and building my businesses over to my family and personal life thus my REI and Biz have experienced "back seat" treatment at times as a result...