Monday, January 3, 2011

Top 5 Streams of Income in 2011

By Ronald Cagape

What money-making opportunities will 2011 bring you? Obviously, not everyone is going to make money in real estate so let’s take a look at other opportunities to create multiple streams of income in 2011.

#1 Real Estate.

Obviously Real Estate will top my list. There are increasing opportunities to make money in real estate. If you bought pre-selling condominiums you have the option to lease it or flip it to an end-buyer for a big bundle of cash.

There are still more condominium projects in the pipeline from top developers so there are also opportunities to make money as a broker or agent.

For the bold, there is opportunity for rehabbing, renovating and reselling properties. Beware, though, you don’t want to be stuck with a property when the property market goes on a downturn.

#2 Paper.

According to my online stockbroker, the Philippine stock market is on a bullish cycle. This means, the market is on a confirmed up-trend so there are opportunities for buying and selling of stocks. The PSEi is projected to rise to 5200 from the current level of 4000 – a projected 30% increase.

#3 Travel & Tourism.

Even with the Pilipinas Kay Ganda fiasco, travel & tourism will boom in 2011. Leading the charge is the Underground River in Puerto Princesa, Palawan, voted as a finalist in the New 7 Wonders of Nature. The boom in this industry will provide more opportunities for Tour Guides, Travel Agents and Travel Writers.

#4 Business Process Outsourcing.

The recent global recession has forced companies to cut costs and keep staffs lean. What better way to reduce costs than to outsource various business process overseas? This trend will provide income opportunities to Virtual Assistants, Web Developers, Engineering Consultants and Graphic Designers among many others.

And don’t forget that the Philippines stands to receive the lion’s share of Call Center outsourcing after being named the top call center destination in the world.

#5 Internet Marketing.

Next to real estate, this is current favorite. As broadband penetration in the Philippines increases, the use of the internet (and mobile internet for that matter) is bound to increase and create many business opportunities. There’s so many ways to make money in internet marketing and I’m sure you can already notice the many seminars and courses to make money online.

Exercise caution though because many of these so-called gurus have not actually made online but they make money teaching other people how to make money.

This list is a mix of opportunities for earned, passive and portfolio income. Depending on where you are in your journey, there are many opportunities to make money in 2011.

Also, this is not a comprehensive list by any means so feel free to add your income picks for 2011 in the comments section below.

No comments: