Dingo Posted April 27, 2018 Report Share Posted April 27, 2018 Yea i use a cleaning solvent Perc which is highly carcinogenic, the EPA is trying to phase it out and the surge charge tax drove the price to $40/gal where it use to be $5/gal. I own my own property(my 401 at the back end) so i didn`t trash my property, there is a EPA superfund for cleanup, tell your bud to check into that.I am in Canada We have stringent environmental laws hereHe’s basically fucked regardless of the outcome as they are in court and he and his wife are in their late 60sReally sad situation as they worked hard all their lifes and wanted to leave a legacy for the kidsGood luck to you enjoy your retirement Quote Link to comment Share on other sites More sharing options...
Dingo Posted April 27, 2018 Report Share Posted April 27, 2018 Always looking for additional ideas for business. I currently have my own consulting business but seeing if any other ideas can be expanded into different marketsI am not looking at any business opportunities right now as I am too busy as it isBut most my friends own businesses and the one that is probably make the most is in the storage business Personally I never use them but he tellls me that he has customers that have things stored for over 10 yearsHe laughs all the way to the bankHe also has a moving company as well Quote Link to comment Share on other sites More sharing options...
Downsouth Posted April 27, 2018 Report Share Posted April 27, 2018 I am not looking at any business opportunities right now as I am too busy as it isBut most my friends own businesses and the one that is probably make the most is in the storage business Personally I never use them but he tellls me that he has customers that have things stored for over 10 yearsHe laughs all the way to the bankHe also has a moving company as wellStorage usually great biz but very high initial investment. Quote Link to comment Share on other sites More sharing options...
Downsouth Posted April 27, 2018 Report Share Posted April 27, 2018 I am not looking at any business opportunities right now as I am too busy as it isBut most my friends own businesses and the one that is probably make the most is in the storage business Personally I never use them but he tellls me that he has customers that have things stored for over 10 yearsHe laughs all the way to the bankHe also has a moving company as wellStorage usually great biz but very high initial investment. Quote Link to comment Share on other sites More sharing options...
roachman Posted April 27, 2018 Report Share Posted April 27, 2018 If I was 20 years younger I would invest in the mini warehouse biz, its low risk but requires millions to open one. Quote Link to comment Share on other sites More sharing options...
Dingo Posted April 27, 2018 Report Share Posted April 27, 2018 If I was 20 years younger I would invest in the mini warehouse biz, its low risk but requires millions to open one.It does but because the business is secured by property it’s a lot easier to get financing than most businesses especially if you have some money Food truck is another good business if you run it by yourself Quote Link to comment Share on other sites More sharing options...
Dingo Posted April 27, 2018 Report Share Posted April 27, 2018 Storage usually great biz but very high initial investment.Do you just live on your rental income?I have rentals as well but I am scared if I retire and there is a downturn in the market I would be left with negative cash flow because the property taxes here are crazy Quote Link to comment Share on other sites More sharing options...
Downsouth Posted April 27, 2018 Report Share Posted April 27, 2018 Do you just live on your rental income?I have rentals as well but I am scared if I retire and there is a downturn in the market I would be left with negative cash flow because the property taxes here are crazyI do. I make a little money doing other things or invested in other small biz but primary is rentals. I bought a lot of them when the market was in the dumps here. I own maybe half of them free and clear. My equity position is great so as long as market doesnt completely bottom out ive got a solid retirement egg if my kids decide they dont want to run it. Quote Link to comment Share on other sites More sharing options...
roachman Posted April 27, 2018 Report Share Posted April 27, 2018 Do you just live on your rental income?I have rentals as well but I am scared if I retire and there is a downturn in the market I would be left with negative cash flow because the property taxes here are crazyThe Charlotte real estate is in a boom phase right now, 30k moving here a year. The renters here are paying 30% of their income on rent which the norm is 25%. I prefer commercial because once you hand the key to the tenant they are responsible for all upkeep on the inside which residential the landlord maintains all inside and outside. Quote Link to comment Share on other sites More sharing options...
Dingo Posted April 27, 2018 Report Share Posted April 27, 2018 The Charlotte real estate is in a boom phase right now, 30k moving here a year. The renters here are paying 30% of their income on rent which the norm is 25%. I prefer commercial because once you hand the key to the tenant they are responsible for all upkeep on the inside which residential the landlord maintains all inside and outside.Yea I own commercial as wellCommercial tenants also willing to sign longer leasesAbout 14 years ago their was a lot of vacancies in my area and I and just afraid that cycle could returnThe economy has been running well for a long time Renters here pay at least 30 percent of there incomeMost landlords here are not getting a good return on their investment it’s the appreciation that they look forward to Quote Link to comment Share on other sites More sharing options...
Downsouth Posted April 27, 2018 Report Share Posted April 27, 2018 Took me a few years but i finally have decent help and a reliable network of contractors to make it easier on myself. Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted April 27, 2018 Report Share Posted April 27, 2018 Just one rental paid 19k getting 700 a month for about 1.5 years now. Going to rent the house I live in for the same amount when i move, bought for 26k invested around 13k so a bit under 40k all free and clear. Looking for another rental but much harder to find as Hispanics buy anything under 50k to fix them up, got lucky with the 2 houses I have now thank god Quote Link to comment Share on other sites More sharing options...
Dingo Posted April 27, 2018 Report Share Posted April 27, 2018 Just one rental paid 19k getting 700 a month for about 1.5 years now. Going to rent the house I live in for the same amount when i move, bought for 26k invested around 13k so a bit under 40k all free and clear. Looking for another rental but much harder to find as Hispanics buy anything under 50k to fix them up, got lucky with the 2 houses I have now thank godWow that’s a great return on your investment Houses here on average are 700KPeople rent them for 3K a month so not a great return Quote Link to comment Share on other sites More sharing options...
roachman Posted April 27, 2018 Report Share Posted April 27, 2018 Wow that’s a great return on your investmentHouses here on average are 700KPeople rent them for 3K a month so not a great returnMy brother in San Jose said a starter fixer upper cost 1mil, poverty level for a family of 4 is 120k. San jose and Charoltte ranks in the top 3 real estate market in the country. Quote Link to comment Share on other sites More sharing options...
Dingo Posted April 27, 2018 Report Share Posted April 27, 2018 My brother in San Jose said a starter fixer upper cost 1mil, poverty level for a family of 4 is 120k. San jose and Charoltte ranks in the top 3 real estate market in the country.It’s the same thing here Couples with good jobs pulling in 180K combined can’t afford to buy in this marketOne of good things about being older,we were able to buy when it was more affordable The younger generation also aren’t willing to make the sacrifices required to save for a down payment Quote Link to comment Share on other sites More sharing options...
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