Where to invest?

[antbkny]

dont forget the hobby/something fun part!

[rmlovett1]

Originally Posted by Carrera911

Are those short term ?

I was considering buying houses in central areas in Tampa and making them AirBNB, ROI will be much higher but will require more of my involvement which I can not put at the time.

The cabin rentals are short term...usually 2-3 night minimum, typically they’ll rent weekly. But 250-350 per night, depending on location, #of bedrooms, etc...

[rmlovett1]

Originally Posted by antbkny

dont forget the hobby/something fun part!

Absolutely my man!

[Etschell]

i dont think anything i would advise you would full fill your hobby fun part other than 50k into cryptocurrency (btc/ltc/eth).

if it is mass adopted that will be quite a large sum in 10 years.

a lot of good investments require little work with no fun or lots of work with lots of fun. it doesnt go any other way.

you could pick up poker if you are decent at math. it is fun and kills lots of time.

[encarter13]

Originally Posted by Richris1

Nice! I’m also looking at high end cabin rentals in N Georgia mountains.

I have lots of knowledge about Northeast Ga Mountains. I live right in the heart of them. I could possibly help.

[rmlovett1]

Originally Posted by encarter13

I have lots of knowledge about Northeast Ga Mountains. I live right in the heart of them. I could possibly help.

Thank you. We have a home in Blue Ridge. That is where I’m looking.

[jrs146]

Have you considered franchising? There are hundreds to choose from. Many are semi-absentee business owner based models.

I became a Sport Clips Haircuts Franchisee about 5 years ago. We have 4 stores and so far so good. It is a descent amount of work, especially since it's not my day job. But I think long term it will be a worthwhile investment.

[car_wash_guy]

Originally Posted by Richris1

Thanks guys...Car wash was top of my list when I started looking. I haven’t found any existing for sale in my area, and it’s fairly saturated for any new growth. This is always a viable option, just always questioned the ROI. In theory though, I’m only looking for 60K or anything above as a yearly net return.

It'll cost you $1.5mil-$3mil+ to build new. But then you're talking a gross of $200K+/ mo.

For your lower requirements, that will get you into a Self Service type wash. Self Service segment is declining due to the arrival of express exteriors, but in certain markets, it still does well. Places where people still need to clean their "toys" - ATV's, UTV's, RV's, big trucks, Boats. etc.

What's nice about self service is the labor costs are much lower, and it's a much simpler operation to run.

I'd also consider Self Storage. Its pretty clean operation but it's becoming oversaturated. Plus, during economic downturns, like the wash industry, people curtail their discretionary spending.

[rmlovett1]

Originally Posted by jrs146

Have you considered franchising? There are hundreds to choose from. Many are semi-absentee business owner based models.

I became a Sport Clips Haircuts Franchisee about 5 years ago. We have 4 stores and so far so good. It is a descent amount of work, especially since it's not my day job. But I think long term it will be a worthwhile investment.

I’ve read good things about Sport Clips. Just wondering what market is best? Especially where it’s saturated with Great Clips, etc...

Originally Posted by car_wash_guy

It'll cost you $1.5mil-$3mil+ to build new. But then you're talking a gross of $200K+/ mo.

For your lower requirements, that will get you into a Self Service type wash. Self Service segment is declining due to the arrival of express exteriors, but in certain markets, it still does well. Places where people still need to clean their "toys" - ATV's, UTV's, RV's, big trucks, Boats. etc.

What's nice about self service is the labor costs are much lower, and it's a much simpler operation to run.

I'd also consider Self Storage. Its pretty clean operation but it's becoming oversaturated. Plus, during economic downturns, like the wash industry, people curtail their discretionary spending.

Thank you. Looking at self-storage and car wash possibilities as well

[jrs146]

Originally Posted by Richris1

I’ve read good things about Sport Clips. Just wondering what market is best? Especially where it’s saturated with Great Clips, etc...







Thank you. Looking at self-storage and car wash possibilities as well

Great Clips is everywhere. They are our biggest competition. But we are quickly taking away a huge part of their market share.


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[ronricks]

Originally Posted by Richris1

Nice! I’m also looking at high end cabin rentals in N Georgia mountains.

Check out Mineral Bluff it is right by Blue Ridge just as nice and you can get the same cabin for a smidge cheaper.

[rmlovett1]

Originally Posted by ronricks

Check out Mineral Bluff it is right by Blue Ridge just as nice and you can get the same cabin for a smidge cheaper.

thank you

[SMD]

Are you close to a source of lumber? If so, pallets! Equipment to produce them is not a huge investment and every business and shipper needs them. Heck my small business buys 80,000 pallets each summer.

[pallindrome]

Originally Posted by Richris1

Getting ready to semi-retire. Selling my businesses, and celebrating being debt free.
After investing the lump sum to collect a “living” off of, I want to invest in a hobby/something fun, and something waaaay slower than what I’ve been doing for the last 28 years.
I’m not ready to just pass my days playing golf, etc....
So I’d like to invest in something that is, or can be an absentee owner, or home-based type business.
Between 250-400K
Any ideas are welcome. Thanks, as always.

An excellent way to invest would be in YOURSELF. Give some $$ for yourself to indulge, set another pool for yourself to continue learning and upgrading your skills. It could even extend out to being an expert in your "hobbies" - whether it be golf coaching, watch repair....stuff like that. These are golden experiences that you can enjoy NOW rather than at too old/immobile an age!

[rmlovett1]

Originally Posted by SMD

Are you close to a source of lumber? If so, pallets! Equipment to produce them is not a huge investment and every business and shipper needs them. Heck my small business buys 80,000 pallets each summer.

I’ll look at that. Never thought of it. Thank you

[superdog]

Originally Posted by SMD

Are you close to a source of lumber? If so, pallets! Equipment to produce them is not a huge investment and every business and shipper needs them. Heck my small business buys 80,000 pallets each summer.

That’s a super idea.

My company actually designs and builds distribution centers. We put in tens thousands of pallet locations a year.

Might be something I should look at...

[1st amg]

Originally Posted by superdog

That’s a super idea.

My company actually designs and builds distribution centers. We put in tens thousands of pallet locations a year.

Might be something I should look at...

No kidding, something so simply. Who says you have to invent an app to get rich

[G8RDPM]

Originally Posted by superdog

That’s a super idea.

My company actually designs and builds distribution centers. We put in tens thousands of pallet locations a year.

Might be something I should look at...

Vertical integration. Then own the trucking company that moves your stuff!

[locutus49]

In our condo building, some owners have bought units to rent out.

You have to crunch the numbers to make sure you make a profit. And sometimes a bad tenant will cause you to get fined. But there is a housing shortage in San Diego, so the delta is pretty decent.

[rmlovett1]

Originally Posted by locutus49

In our condo building, some owners have bought units to rent out.

You have to crunch the numbers to make sure you make a profit. And sometimes a bad tenant will cause you to get fined. But there is a housing shortage in San Diego, so the delta is pretty decent.

thank you !

[SMD]

Originally Posted by superdog

That’s a super idea.



My company actually designs and builds distribution centers. We put in tens thousands of pallet locations a year.



Might be something I should look at...

There are actually two revenue streams - new and recycled. After you sell new pallets, you go and buy them back at almost nothing (most customers want someone to get rid of them because the pile up quickly if you bring in a lot of product) and resell as recycled pallets. So you can cover more price conscious customers as well - segment the market with several different grades of recycled pallets.

[Carrera911]

Brilliant idea!

Originally Posted by SMD

There are actually two revenue streams - new and recycled. After you sell new pallets, you go and buy them back at almost nothing (most customers want someone to get rid of them because the pile up quickly if you bring in a lot of product) and resell as recycled pallets. So you can cover more price conscious customers as well - segment the market with several different grades of recycled pallets.

[rmlovett1]

Originally Posted by SMD

There are actually two revenue streams - new and recycled. After you sell new pallets, you go and buy them back at almost nothing (most customers want someone to get rid of them because the pile up quickly if you bring in a lot of product) and resell as recycled pallets. So you can cover more price conscious customers as well - segment the market with several different grades of recycled pallets.

[mjclark32]

Originally Posted by superdog

I have wanted a car wash for years.

Your comment makes me want to pick up that stick again and see if I can make it happen.

x2, where I am there is one car wash and they charge $22 for a basic wash. It's gotta be pretty easy to come in and take some of their share. Or just buy them...

A family friend owns a few Pretzel franchises. Cash Cow.

[nfld]

Originally Posted by Carrera911

I look for houses in the Ybor area of Tampa, FL. Because in my personal views it's up and coming.
Just yesterday I put under contract a house for $73k, 3bed 1 bath, 800 sqft, made of brick that looks great from the inside & out. It should make roughly $1100 pre-tax and pre-management fees.
I pay 8% monthly management fee.

Honestly, I don't care if it makes 9% instead of 12% or 15% ROI. I pay cash and my objective is to generate passive income in the short term from about 10 properties and in the long term to enjoy their appreciation.

I'll be down that way soon and planning on retiring in the St. Pete's/Pinellas Park area. I certainly wouldn't mind searching for some real estate in that area to invest in. I plan on retiring when I am 55, which is 3 years away. I already own some rentals, where I currently live, so being a landlord is something I have done for the last 10 years. I'll have to check out the YBor area when I am in Florida next month, thanks Carrera911!!

[fskywalker]

Happy for you Richard!

[datejustrms]

Richard, you may want to talk to a good commercial real estate broker. If you are able to find something with solid leases in place and in decent condition you can generate some nice income.

You should also let your CPA know you are looking for a good opportunity. They may have clients who are selling their business.

Best of luck!!

[kellyon]

Buying a property is generally a great investment. It can generate an ongoing passive income, and it can prove to be a good long-term investment if its value increases exponentially over time. One of my friends bought villa turkey for sale in Bodrum a few years ago through Turkey Homes company. They have a head office in London. Now he leases this house to holiday-makers and short term visitors.