One million dollars is a large amount of money; it can’t be easily found laying around. But those who have that kind of money often wonder what the smartest way to invest that money instead of spending it is.
Robby Clark is a well-established entrepreneur who runs a 9 figure scaleable rental real estate business, SID Developments. The focus of SID developments is property acquisition, renovation and property management.
Recently, Robby launched a new series on Instagram called Robby’s Rantz. In each episode, Robby plans to share valuable advice and his personal experience, hoping it might help out entrepreneurs who are just starting new businesses.
Investing is an everyday part of Robby’s life, and according to him, he’s gotten “good at finding the diamonds in the rough.” He adds that a million dollars is a lot of money, but here is his advice on the best and most efficient way to invest such a hefty sum & is quite similar to how he’d invest $10,000 or even $1,000.
Robby’s and his company’s motto is “Spend. Invest. Diversify.” This does not mean buying stock in several companies in the same industry, but finding the future winners of industries you enjoy learning about. If you don’t enjoy learning about the industry, don’t invest in it. “If you sold Amazon or Tesla anytime in the past decade to invest in other retailers or car manufacturers, that was a mistake” says Robby. “I often invest in cryptocurrencies, and other alternative assets, but my favorite asset is real estate at the moment.”
In the first episode of Robby’s Rantz, Robby points out that alternative assets, such as trading cards, make an excellent investment. “It is important to stay up to date with the latest trends and invest into assets that are performing well,” Robby says. “The only asset that performed better than Bitcoin in 2020 was trading cards, making it an excellent investment opportunity if you understand the market.”
Also, Robby pointed out that his favorite investment is real estate, for a number of reasons. When it comes to his investment strategy, he sticks to his company’s motto “Spend. Invest. Diversify.” Robby purchases properties with high cap rates, adds value through renovations, and then proceeds to lease the properties. His focus is in areas developers cannot perform work in yet as the prices are too depressed. They need investment capital to fix up existing inventory to help create enough demand for new projects. This is where SID Developments comes in.
“Over the years, the rental income will pay down the equity in the home, this is like a savings account” Robby explains. “Also, you’ll be receiving rental income, which you can invest back into real-estate or other things you feel provide value.”
Robby is speaking from his own experience when he says that every investment pays off in the end. “Making money work for you instead of working for money does take some time and is all about education” he says. “With smart decisions, you can turn a relatively small investment into a hefty sum. I started with one small home & lost at the game many times before learning enough to succeed. That is the key”
More investment strategies and advice on becoming a successful entrepreneur can be found on Robby Clark’s Instagram page. Please remember that Robby is not a financial advisor, this advice is based on his own experiences and investing should be done at your own risk. Make sure to follow Robby and stay up to date with his latest Robby’s Rantz series!