Scarier than Betting the Horses......
 

Man, I just invested in two companies. One company is creating a paperless medical record system for dentists and chiropractors and then other is specializing in Reverse Mortgages. Man, I love investing my money in businesses but I get so nervous to see if they indeed are going to turn a profit or get sold--lol. Last one I did FLOPPED--but I did get my money back.

the paperless office is the DUMBEST idea ever thought of.
we have a paperless enviornment. what a huge pain in the arse.
total fiction, cannot be done. i have a scanner on my desk. i scan everything i look at into the computer. so now instead of working i just scan. scanning used to be done by people at file management sites by people that scan all day long old records for filing. now its all done currently.
the paperless office was created by people too lazy, or too arrogant to leave their office, to go to the file cabinets.

so now i scan everything, because i have too, then i use the paper i just scanned to do my work with instead of using the scanned document onscreen. i have a box of paper next to my desk that contains the stuff i have scanned. it now my file cabinet, the box of unfiled paper, because they took my file cabinet away when they gave me the dam scanner.

the computer is a usefull tool, nothing more.
it cannot be used as a substitute for paper, people like hard copy.

whats next the paperless bathromm, try to wipe with a computer.

The reverse mortgage idea is excellent because health care costs and americans love of debt are going to cause a ton of baby boomers to do this.

LOL--it is a little more involved that that. You dont acutally scan anything. You (the patient) enter all your medical information into a computer that is located at a kiosk (instead of using paper to mark your answers). The DR then is able to make Dr notes onto a PDA. The notes are then attached to the electronic medical record. Then if you go to another DR...the medical records can then be emailed or zipped to the other DR. Makes transfer of records much easier. Also, prescriptions can be written on the PDA and sent directly to the Pharmacy so no one needs to make a call.

Also, as a patient, you can log into the DR office scheduling and you can make your own appointments. So you will not need to call the office to schedule one. You can also change or cancel your appointment.

It is pretty neat. I went through the demo today and loved it.

Bold--I about flipped when I heard of this 7 months ago. I never heard of it until then. I have been researching and talking with other people who know Reverse Mortgages and boy what a great idea. I pumped a good deal of money into this company (I own 27%) and I think it is going to be awesome. What is awesome is that HUD makes up any short-sells. It is a win win deal for everyone (accept for the people who stand to inherit the home). But screw them. I actually got my grandmother to do this so she wouldnt have to struggle from month to month. She took a lump some of $80k. She has $20k in her bank and then we got a CD for the other $60k. It really lessens the stress for older americans.

sounds like a big data base so big brother can know just exactly what everyone has or doesn't have.
a data base like this is open to hacking abuse.
the data will be sold.
while on the surface it appears to be a helpfull idea, it will, because of human nature , turn out to be a source of conflict regarding personal security over information.

so instead of paying a clerk to input the data, they want you to do it for them. that way the doctor pays fewer people and he gets another house in Vail.

Exactly. And hopefully I will make some money. I want the company to be sold in 5 years. I figured a selling price of $20mm.

People should want their parents to live a good life anyone instead of scraping by so they can get a bigger inheritance. The issue though facing older americans is health care. Drug costs alone can eat up the interest people collect on the money they put away from the reverse mortgage. People just live too long today, and that is why the reverse mortgage will become the norm in the future.

actually a better idea is to take out a mortgage or refinance, that way you do not sell your house while you are still living in it. the relatives get a chance to decide if they want to keep the house, and further, some may want to live where they grew up when the older person passes. reverse mortgages are by their very nature dangerous. they are ways to get people to commit to a sales price before the sales price of the surrounding homes are known. you could agree to a price in 2005 and in 2010 the price could have doubled due to inflation or a general increase in damand. not to mention the psycological effects of having title to your home all your life and then suddenly your are a defacto renter. bringing a stranger into partner with your grandparents in the title to the family home is not a good idea. get asecond mortgage instead, do not release the title or rights to the title of your home to anyone ever.

if you don't mind me asking how many and what oil change places do you own in the indy area? i lived their for a couple of years, castleton area off 465and 82nd street. pm me if you want so the world will not see. i have a degree in small business management so i LOVE to hear stories like yours. holla at me when ya get a minute.

reverse ortgages will be the norm in the future.

funny , when i was growing up credit was viewed as a vice.
owning your home outright and passing it along to your relatives was considered the way to generate wealth across the generations. now the degenrationxers have somehow convinced themselves that borrowing is a good thing.

no it is not.

man i miss Kelly's Pub Too, never knew who might show up, especially on Monday Nights when Racin with DO did his radio show from their. darn good bar food and a great atmosphere. since i dried up probably a good thing i don't live their cause i would still be a weekly regular their.

I don't think you really understand the concept.
This is how it works.

http://money.cnn.com/magazines/money...3304/index.htm

You are missing the point of them. Read the article I just posted above.

Well if you take out a mortgage or refinance then you have a monthly payment. With reverse mortgage you do not have a payment at all. This is the key to the entire thing. Reverse mortgage is the same as a refiance. But, the lender gets the money back from the sale of the home, any short sells HUD makes up and the title goes back to the family.

I own two in Indy. The first one is for large commercial vehicles. The other is for cars. I also own half of one in Clarksville, Indiana. Even though I do ok with these, I got lucky and inheirted a little money. Took some investment lumps along the way, but for the most part--my wife has a great business mind--i have the people mind. We make a good team.

Or go to this site.
http://www.seniorjobbank.org/rm/index1.html

i am a bitter man for this reason, and i should not be when it comes to my degree and aspirations in life. when i graduated high school my stepfather and i had a deal. i was allowed to live at home all thru college as long as i worked all thru college to help foot the bill for the tuition and books. upon graduation i would take over his columbus, ohio brake shop which services commercial vehicles, not to mention columbus fire dept (a huge contract). i would also inherit the business. well, i not only held on to my end of the bargain but more, by the time i graduated from college i was a store manager of a one million dollar a year, give or take hundred thousand, retail store (western auto). not to mention my tuition was paid in full. well, upon graduation , and not a month later, my stepfather tragically passed of a heart attack at the dinner table after his favorite meal. what really burns me is he did not take care of his end and he told me he did, you know in case he passed. not to mention he was still married, which we found out after the fact, to a woman whom my mother never knew about.

ok that is too much info. anyways, you bet your butt i will own my own business sometime. i started a painting business but some personal demons got in the way. i am back working retail, nice gig, but i will never be fully satisfied until i wake up in the morning and go to work for myself. i know the hours will be long, but my income will reflect how hard and dedicated i work.

then if i wanna take an afternoon off during the week and lay a couple bucks down on a race, hey ya know i can.

I hope you are a disciplined gambler because owning your own business and gambling don't go well together unless you are disciplined. Good luck.

Sad story man. I feel for you. Some advice. If you ever go into a partnership, make sure you are ALWAYS and I mean ALWAYS be the majority owner. Nothing wrong with getting investors, but always, and boy I cannot stress this enough, be the majority owner. Also do your homework on people who want to invest with you. Make sure to only invest with people who can afford to lose $250k and not worry about it. Join as many business clubs as possible, network network and boy NETWORK. Come up with an idea that hasnt been thought of around your city. Look at a up and coming city and see what they are missing that you like. Oh get a good attorney. I mean a really really good one. Dont let the hourly rate they charge you influence who you use. Amazing what the right attorney can get done. Good luck and dont be afraid to fail. You will fail more times than you succeed.

I was almost decided to invest in a cereal bar. Not too many of these in the midwest metropolitan cities