Do you have a side hustle?
01-22-2023 | 05:37 PM
#81
Respek
Joined: Jul 2010
Posts: 2,915
Likes: 62
I have a small car/airplane detailing business that got pretty busy during my Covid leave, I’d like to transition it into a bit more of a restoration service but it’s going to take quite a bit of capital before I can buy all the equipment.
03-05-2023 | 03:09 PM
#82
Line Holder
Joined: Jan 2017
Posts: 27
Likes: 0
Does anyone know how feasible starting an aircraft brokerage is? I'd love to someday get into RE rentals but just don't have anywhere near the capital I need. Seems like brokering aircraft is more of meeting the right people with little money required up front.
03-05-2023 | 08:07 PM
#85
Gets Weekends Off
Joined: Jan 2018
Posts: 2,827
Likes: 232
I like the storage unit idea. Just need to be in an area that’s available and affordable. I live in LAS and I don’t think you’d be able to do a Ma and pa shop with all the big name companies here. They are popping up all over here.
I’ve owned multi unit rentals since 2009. It’s been very profitable and helped me create a pretty good net worth. The key is to buy them at reasonable prices. I sold 2 of them in 2021 when I’d get calls out of the blue if I want to sell and made a lot $ and paid off my house. I kept the 2 newer ones and those will be my retirement income.
As far as hassle goes, I manage them myself and have reliable plumber, electric, hvac people. I’ve had water leaks, a small fire, a police raid, and my favorite - a domestic fight that lead in a stabbing death . Pools of blood everywhere. I learned there’s companies that specialize in that cleanup. The one I used is named appropriately- Aftermath!
I’ve owned multi unit rentals since 2009. It’s been very profitable and helped me create a pretty good net worth. The key is to buy them at reasonable prices. I sold 2 of them in 2021 when I’d get calls out of the blue if I want to sell and made a lot $ and paid off my house. I kept the 2 newer ones and those will be my retirement income.
As far as hassle goes, I manage them myself and have reliable plumber, electric, hvac people. I’ve had water leaks, a small fire, a police raid, and my favorite - a domestic fight that lead in a stabbing death . Pools of blood everywhere. I learned there’s companies that specialize in that cleanup. The one I used is named appropriately- Aftermath!
03-14-2023 | 03:59 PM
#90
Gets Weekends Off
Joined: Sep 2019
Posts: 1,538
Likes: 0
Iron condors on monthlys are relatively low on capital requirements and need little to no babysitting. Take profit around 50% of max, rinse and repeat. Of course covered calls are always an option too if your portfolio is pretty big.
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