ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

rmlovett1 · 14 February 2018, 11:51 AM

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.

roaddog359 · 14 February 2018, 11:56 AM

When you find that 250-400K let me know too. I am also ready to retire and get rich.

G8RDPM · 14 February 2018, 11:58 AM

Subscribed.
I truly love your watch collection.

I’m a few behind.

Best of luck in retirement!

Carrera911 · 14 February 2018, 12:02 PM

Rental properties in Florida :)
70-80K investment gets you $1k per month, thats after management company costs.

antbkny · 14 February 2018, 12:04 PM

You’re my idol Richard!!!!

rolexgiants · 14 February 2018, 12:06 PM

Quote:

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.

What line of work were u in?

rmlovett1 · 14 February 2018, 12:18 PM

Quote:

Originally Posted by roaddog359

When you find that 250-400K let me know too. I am also ready to retire and get rich.

I’ve found it....I’m ready to invest it :)

Quote:

Originally Posted by G8RDPM

Subscribed.
I truly love your watch collection.

I’m a few behind.

Best of luck in retirement!

Thank you 😊

Quote:

Originally Posted by rolexgiants

What line of work were u in?

Restaurants

G8RDPM · 14 February 2018, 12:21 PM

Quote:

Originally Posted by Carrera911

Rental properties in Florida :)
70-80K investment gets you $1k per month, thats after management company costs.

So,can we put a group together? Real question!

rmlovett1 · 14 February 2018, 12:21 PM

Quote:

Originally Posted by Carrera911

Rental properties in Florida :)
70-80K investment gets you $1k per month, thats after management company costs.

I’ve been over and over that idea...I’ve yet to find 1K per month on 70-80K investment after mgmt fee, taxes, repairs, etc... Please direct me to where. I’ve found buying houses 115-135K, can net around 700-800 per month, after figuring in mgmt fee, taxes, repair fund, vacancy rate.....etc

roaddog359 · 14 February 2018, 12:21 PM

Quote:

Originally Posted by Richris1

I’ve found it....I’m ready to invest it :)

Ok, I am ready to make the money what are we going to do?

rmlovett1 · 14 February 2018, 12:33 PM

Quote:

Originally Posted by antbkny

You’re my idol Richard!!!!

BNA/LION · 14 February 2018, 01:22 PM

Become a "Monsurier" by developing a good little black book of high networth customers and provide specific services requested.

Ha! Ha!

Best of luck... I have known ideal what to do in retirement either. I'm following this post!

Thatguy · 14 February 2018, 02:20 PM

Quote:

Originally Posted by Richris1

I’ve been over and over that idea...I’ve yet to find 1K per month on 70-80K investment after mgmt fee, taxes, repairs, etc... Please direct me to where. I’ve found buying houses 115-135K, can net around 700-800 per month, after figuring in mgmt fee, taxes, repair fund, vacancy rate.....etc

What part of FL?

Sent from my iPhone using Tapatalk

77T · 14 February 2018, 02:29 PM

Well you’re in the right place, and soon the right time for the inevitable scare for the 2018 Zika season.

I suggest investing in Area Development with Mosquito Joe’s. Or just nail down 3 territories near you.

There’s unlimited supply in the problem department, and too few feet on the ground to solve it.

Sent from my iPhoneX using Tapatalk

Danny83 · 14 February 2018, 03:48 PM

Put up a Budget/Avis rent a car great Roi. If I was not so busy I would be doing that now.

rmlovett1 · 14 February 2018, 08:49 PM

Quote:

Originally Posted by Thatguy

What part of FL?

Sent from my iPhone using Tapatalk

SWest

Quote:

Originally Posted by 77T

Well you’re in the right place, and soon the right time for the inevitable scare for the 2018 Zika season.

I suggest investing in Area Development with Mosquito Joe’s. Or just nail down 3 territories near you.

There’s unlimited supply in the problem department, and too few feet on the ground to solve it.

Sent from my iPhoneX using Tapatalk

I’ve seen this as a good franchise. Thank you

Quote:

Originally Posted by Danny83

Put up a Budget/Avis rent a car great Roi. If I was not so busy I would be doing that now.

Definitely haven’t looked into this...will do. Thank you

car_wash_guy · 14 February 2018, 11:31 PM

The right car wash could be a great investment. I bought my first with $200K down and netted a solid 35% COC. I still own it and spend about 3 hours a week there.

superdog · 14 February 2018, 11:49 PM

Quote:

Originally Posted by car_wash_guy

The right car wash could be a great investment. I bought my first with $200K down and netted a solid 35% COC. I still own it and spend about 3 hours a week there.

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.

MonBK · 14 February 2018, 11:52 PM

Quote:

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.

I've had one for many, many years.

Only problem is when it's too cold outside she (wifey) complains.

rmlovett1 · 15 February 2018, 12:00 AM

Quote:

Originally Posted by car_wash_guy

The right car wash could be a great investment. I bought my first with $200K down and netted a solid 35% COC. I still own it and spend about 3 hours a week there.

Quote:

Originally Posted by MonBK

I've had one for many, many years.

Only problem is when it's too cold outside she (wifey) complains.

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.

MonBK · 15 February 2018, 12:02 AM

Quote:

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.

That's about what it costs me to have my car washed once a week.

rmlovett1 · 15 February 2018, 12:04 AM

Quote:

Originally Posted by car_wash_guy

The right car wash could be a great investment. I bought my first with $200K down and netted a solid 35% COC. I still own it and spend about 3 hours a week there.

Quote:

Originally Posted by MonBK

I've had one for many, many years.

Only problem is when it's too cold outside she (wifey) complains.

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.

*MonBk. Weather being cold or too seasonal isn’t an issue here, but I know that’s always a car wash concern up north.

MonBK · 15 February 2018, 12:06 AM

Quote:

Originally Posted by Richris1

*MonBk. Weather being cold or too seasonal isn’t an issue here, but I know that’s always a car wash concern up north.

I agree, not an issue for me either, I'm not the one complaining.

rmlovett1 · 15 February 2018, 12:11 AM

Quote:

Originally Posted by MonBK

I agree, not an issue for me either, I'm not the one complaining.

Carrera911 · 15 February 2018, 12:13 AM

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.

Quote:

Originally Posted by Richris1

I’ve been over and over that idea...I’ve yet to find 1K per month on 70-80K investment after mgmt fee, taxes, repairs, etc... Please direct me to where. I’ve found buying houses 115-135K, can net around 700-800 per month, after figuring in mgmt fee, taxes, repair fund, vacancy rate.....etc

77T · 15 February 2018, 12:18 AM

Quote:

Originally Posted by MonBK

I've had one for many, many years.

Only problem is when it's too cold outside she (wifey) complains.

But then she can go to work shoveling that snow...

Sent from my iPhoneX using Tapatalk

newbee1 · 15 February 2018, 12:22 AM

Quote:

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've heard good things about Tampa real estate as well and one of my friend bought a place there. Did you use a realtor or found that place by yourself? I'm planning to invest in Tampa if things go well.

Carrera911 · 15 February 2018, 12:32 AM

No realtor, I search for stuff by myself.
This is going to be my second property. The first is rented for $1200 for a couple months now.

rmlovett1 · 15 February 2018, 12:36 AM

Quote:

Originally Posted by Carrera911

No realtor, I search for stuff by myself.
This is going to be my second property. The first is rented for $1200 for a couple months now.

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

Carrera911 · 15 February 2018, 12:38 AM

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.

Quote:

Originally Posted by Richris1

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

14 February 2018, 11:51 AM	#1
rmlovett1 2024 ROLEX DATEJUST41 Pledge Member Join Date: Sep 2015 Real Name: Richard Location: GA Watch: YTBD Posts: 22,583	Where to invest? 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.

14 February 2018, 12:02 PM	#4
Carrera911 "TRF" Member Join Date: Jan 2016 Location: Odessa, FL Watch: Bluesy (126613LB) Posts: 570	Rental properties in Florida :) 70-80K investment gets you $1k per month, thats after management company costs. __________________ Time is the only thing standing between me and the throne ♛

14 February 2018, 01:22 PM	#12
BNA/LION 2024 ROLEX DATEJUST41 Pledge Member Join Date: May 2011 Real Name: Larry Location: San Diego, CA Watch: ROLEX Posts: 25,237	Become a "Monsurier" by developing a good little black book of high networth customers and provide specific services requested. Ha! Ha! Best of luck... I have known ideal what to do in retirement either. I'm following this post! __________________ ✦ 28238 President DD 18K/YG ✦ 16610LN SS Sub ✦ 16613 18K/SS Serti ✦ 16550 Exp II Non-Rail Cream Dial ✦ Daytona C 116500 ✦ 126710 BLRO GMT-Master II ✦ NEXT-->? ⛳ Hole In One! 10/3/19 DMCC 5th hole, par 3, 168 yards w/ 4-Iron.

14 February 2018, 02:29 PM	#14
77T 2024 ROLEX DATEJUST41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 40,839	Well you’re in the right place, and soon the right time for the inevitable scare for the 2018 Zika season. I suggest investing in Area Development with Mosquito Joe’s. Or just nail down 3 territories near you. There’s unlimited supply in the problem department, and too few feet on the ground to solve it. Sent from my iPhoneX using Tapatalk __________________ Does anyone really know what time it is?

15 February 2018, 12:32 AM	#28
Carrera911 "TRF" Member Join Date: Jan 2016 Location: Odessa, FL Watch: Bluesy (126613LB) Posts: 570	No realtor, I search for stuff by myself. This is going to be my second property. The first is rented for $1200 for a couple months now. __________________ Time is the only thing standing between me and the throne ♛

14 February 2018, 11:56 AM	#2
roaddog359 "TRF" Member Join Date: Jun 2016 Location: earth Watch: Bluesy Posts: 865	When you find that 250-400K let me know too. I am also ready to retire and get rich.

14 February 2018, 11:58 AM	#3
G8RDPM 2024 Pledge Member Join Date: Jan 2011 Location: South Carolina Posts: 3,248	Subscribed. I truly love your watch collection. I’m a few behind. Best of luck in retirement!

14 February 2018, 12:04 PM	#5
antbkny "TRF" Member Join Date: Dec 2013 Real Name: Anthony Location: Brooklyn, NY Watch: Dblue Posts: 6,723	You’re my idol Richard!!!!

14 February 2018, 03:48 PM	#15
Danny83 2024 ROLEX DATEJUST41 Pledge Member Join Date: Sep 2013 Real Name: Danny Location: Bay Area CA Watch: Yellow Gold Posts: 20,173	Put up a Budget/Avis rent a car great Roi. If I was not so busy I would be doing that now.

14 February 2018, 11:31 PM	#17
car_wash_guy "TRF" Member Join Date: Aug 2017 Location: USA Posts: 59	The right car wash could be a great investment. I bought my first with $200K down and netted a solid 35% COC. I still own it and spend about 3 hours a week there.

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)