hoover

I was thinking apartments. Yes that would be more resilient. Storage facilities, I believe, are a good idea.

tom11011

Storage is great in Florida. People moving from up north to Florida always underestimate the amount of space they need because they are accustomed to having basements. People end up having to get storage when they could have spent the same money on buying a house with 1 extra bedroom.

Random Pirate

My side gigs are more than just for the money. I enjoy the challenge and learning other skills. There’s something about being an entrepreneur that’s fulfilling to me and I enjoy working with others that have the same mindset. The extra money is nice too though!

CX500T

Remember not all side gigs make $$$$. Not all the time anyways.

I'm currently trying to save my wife's real estate brokerage (multiple partners) after one was doing shady **** (and leaving us with the bill) and another who basically thinks businesses run on feels and good vibes.

Partnerships can be great as you don't need to be there daily, but when you have one partner(now booted) who decided to expense her new SUV to a company that maybe made 4x that in gross income a month. (as in payment vs income, not making 4x a tahoe a month profit) and others who think that "bartering" is the solution when we have a cash flow problem, it's not always sunshine and rainbows.

But often on APC you only hear of the "I bought $3M in commercial propertys on things I bartered for starting with a potato" success stories. I suspect there's a lot more "broke even after years of effort" and "lost butt, won't admit".

I'm out about $20k if it folds which I would bet is a 70/30 odds in favor of it folding. (one partner signed a crazy long lease extension at unfavorable terms in exchance for "first right of refusal" for landlords listings/property management)

It's a bloody nightmare at the moment, as the person who was actually running the business side of things and keeping a damper on the stupid behind the scenes stuff moved to the other coast when her husband was transferred there (Military)

tom11011

Saving your wife’s failing business is your side gig?

CX500T

Well being as I own part of it and was fairly involved in running it until I recalled to active duty a couple years ago (hard to stay involved from Afghanistan during the withdrawal) and we've been working on damage control from **** that happened when I was gone yes its technically my side gig.

I used to work a lot of the property management/maintenance side of the business while my wife did broker stuff.

1-2 combo meal of me being deployed at the same time my wife was having a lot of post brain surgery follow up medical stuff at the same time a former partner took advantage of us being gone or in limited hours, our office manager moving to California and some other stuff to skim a ton off the top, and leave a **** storm that has taken two years to just get controllable (mostly financial fallout from stuff they did, but hit us way later after she was gone)

But hey, all side hustle are totally a license to print money and are risk free. Riiiight.

Noisecanceller

Credit card companies and check cashing companies and pawn shops do it every day

AirBear

Some Vietnamese friends of ours run a nail salon in a grungy strip shopping center anchored by a grocery store. This is in CLT. Their rent is $3100/month and the square footage is small, less than my house. And they had to shut down for 2 months in the early COVID days. The landlord did not cut them any slack.

tom11011

we didn’t either. Even if they were closed to the public, private appointments were still happening.

rickair7777

Sell the classes, eat with the masses.

Sell to the masses, eat with the classes.

H. Ford said that.