Entrepreneurial ideas/suggestions? (Hands-on investments)

[truckercapjimParticipant 13]

I currently own a bar. I’m not getting rich off of it, but it is paying the bills, and it is fun. However, I would like to do better. I’m kind of ready for a change. I’m just trying to get some ideas for my next venture. I’ve thought about real estate, or maybe a restaurant. I’m not very tech-inclined, so web design/web involved business is probably not my avenue. I’ve heard some people suggest a used car lot/loan shark, but I’m not sure I could sleep at night doing that.   Most of my money is invested by a very capable wealth management team, but I need something to do.  Something hands-on.  That’s pretty much the purpose the bar has served for the last several years, but like I said, I’d like to do better.  So IF/when I sell the bar, what should I do with that check?  Yeah I could put it in with the rest of my low risk investments, but I would get bored very quickly. I’m leaning toward buying a rental property. What do y’all think?

[Crazy CanuckMember 4215]

Do not get into real estate if you live in the follow countries listed in the link I provide you, there is a huge real estate bubble right now. Houses are way over priced their actual value, wait until the house bubble burst and you will be able buy homes a lot cheaper than now.

Why not try new marketing ideas with your bar to get more customers even maybe open up another bar. You didn’t tell me what kind of bar you have.

http://www.economist.com/blogs/dailychart/2011/11/global-house-prices

"If pussy was a stock it would be plummeting right now because you've flooded the market with it. You're giving it away too easy." - Dave Chapelle

[EekParticipant 1162]

Look at Stealthy MGTOW’s posts, he has had a couple of good ideas about rental properties and general contracting/estimation that might interest you.

[truckercapjimParticipant 13]

Crazy Canuck wrote:

Why not try new marketing ideas with your bar to get more customers even maybe open up another bar.

@Canuck:  My point is, I’m thinking about getting out of the bar business. I have a terrible landlord, I’m tired of being a vampire, and I’ve pretty much maxed out my growth potential. There is room for little growth and much of it depends on the growth of the market (which is growing slowly in my town, which is good).  But again, I’m considering getting into something new. I could hang on to the bar until the real estate market is ripe. I’m just getting antsy/bored/wore out.  My bar is pretty much a night club. We have night hours. We dont serve food, and dont have room for a kitchen, and frankly I’m reluctant to make any more large improvements to the property due the snakeish nature of my landlord… Oh! I should say, SHE is actually my landLADY…  I’ve got over 10,000 hours in this bar, I’m an expert in my field at this point, I just don’t want to do it any more.

[SteveParticipant 462]

Real estate. Renting to single cat women. Always allow pets.

Stealthy is bang on the money with this.

He’ll be along shortly I reckon.

[BeerParticipant 11832]

Real estate is really heavily dependent upon your area, and not all properties are created equally.  If your thinking about it you really need to spend some time figuring out what your total expenses are going to be…your mortgage payment, taxes, insurance, budgeting a little each month for maintenance, and how much you can get in rent each month.  Then you have to consider that the property might have some vacancy time, or you might get a dead beat that stiffs you on a few months rent that you have to evict.  You can make money doing it, but do some research on it first.

One other thing to consider if your in the states is rental income is taxed at income tax rates.  Depending what state you are in, and if you have a day job what tax bracket you are in land lording might not be too great of an idea.  I know with the tax bracket I’m in already and the state I live in…I’d be paying 39% on any rental income I earned on top of what I’m already earning at work, plus property taxes…that’s not really leaving me much of a profit margin when I could just dump money in dividend paying stocks and pay 15%.  I’d have to get like 3x the return on rental properties vs stocks just to break even.

[RoyDalParticipant]

Speaking of terrible landlords, income producing real estate worked for me. By “worked for me,” I mean retired way too young by current society’s estimates.

Society asks MGTOWs: Why are you not making more tax-slaves?

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