- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Businesses or Real Estate to invest in
Posted on 2/18/15 at 1:52 pm
Posted on 2/18/15 at 1:52 pm
My mother in law wants to buy a business or investment property in EBR, Livingston, WBR or Ascension Parish to quit her job and live here so her and my wife can stay home and take care of the newborns instead of sending them to daycare. She wants to be able to run it herself or have minimum amount of employees for at least 2 years then hand over the reins to us. She is just looking to make her current salary of 100k. She doesn't want to deal with a lot of maintenance. Does anybody have any suggestions?
We have thought about:
Storage units
RV park
Trailer park
FedEX routes
Real Estate
We have thought about:
Storage units
RV park
Trailer park
FedEX routes
Real Estate
Posted on 2/18/15 at 2:56 pm to Hu_Flung_Pu
quote:
Trailer park
I don't own one yet but it is definitely a goal. Great returns.
Posted on 2/18/15 at 3:46 pm to Hu_Flung_Pu
Confused... does MIL want to stay at home as well?
To make that much money probably means doing a lot of work herself.
How much does she have to invest in the business?
You are looking for something that has free cash flow of 100K. Does she need that right away or can she ramp up to that over a couple of years?
To make that much money probably means doing a lot of work herself.
How much does she have to invest in the business?
You are looking for something that has free cash flow of 100K. Does she need that right away or can she ramp up to that over a couple of years?
Posted on 2/18/15 at 4:39 pm to I Love Bama
They are tough to get. Bank won't loan you what the business is worth and owners won't sell it for what the appraisal says it's worth.
Posted on 2/18/15 at 5:06 pm to LSUFanHouston
quote:
does MIL want to stay at home as well?
No. She would be the primary worker (manager) with minimum workers
quote:
Does she need that right away or can she ramp up to that over a couple of years?
Probably can ramp up.
This post was edited on 2/18/15 at 5:08 pm
Posted on 2/18/15 at 5:15 pm to Hu_Flung_Pu
stay at home
run it herself
minimum employees
Just 100k
low maintenance
Sounds like something everyone would be doing if it were that easy.
run it herself
minimum employees
Just 100k
low maintenance
Sounds like something everyone would be doing if it were that easy.
Posted on 2/18/15 at 5:24 pm to Hu_Flung_Pu
Does she have any experience at all owning or running a business?
Posted on 2/18/15 at 5:24 pm to Hermit Crab
quote:
Hermit Crab
Was going to say something like this. Depends on how much money she has to invest.
Posted on 2/18/15 at 5:28 pm to Hermit Crab
Just add never have to deal with the public and you have the perfect business.
Hell, I'll take 10 tomorrow!
Hell, I'll take 10 tomorrow!
Posted on 2/18/15 at 5:40 pm to VABuckeye
A business that returns 100k net profit will sell for 400 k (good deal) to 800 k (bad deal). She got that kind of cash available to risk in a small business?
Is that a small percentage of her total net worth where she could afford to lose it?
Is that a small percentage of her total net worth where she could afford to lose it?
Posted on 2/18/15 at 6:46 pm to Hermit Crab
quote:
Sounds like something everyone would be doing if it were that easy.
Haha I know. What about multiple businesses/investments? Like multiple store front centers to lease out or multiple apartment buildings. It's just something to "retire" work instead of work work. Not sure what she can invest in but she was looking at businesses around 8k-1mil
She is willing to work it normally. She was talking about opening a commercial embroidery shop.
This post was edited on 2/18/15 at 7:03 pm
Posted on 2/18/15 at 6:50 pm to Hu_Flung_Pu
Oh for another tidbit of info, she plans on buying businesses for each of the kids to run but only wants 30k (to equal around 100k)from each when that happens then 50k to 60k for us. So right now it needs to be the most since there is only one (hence the ~100k) later it is cut to the ~30k with my wife working the job as a manager. Hope that makes sense
This post was edited on 2/18/15 at 6:54 pm
Posted on 2/18/15 at 9:43 pm to Hermit Crab
quote:
stay at home
run it herself
minimum employees
Just 100k
low maintenance
Sounds like something everyone would be doing if it were that easy.
no shite huh
Posted on 2/18/15 at 9:47 pm to Hu_Flung_Pu
if she has any interest in real estate shoot me an email
djw70726@yahoo.com
djw70726@yahoo.com
Posted on 2/18/15 at 10:47 pm to Hu_Flung_Pu
quote:
Like multiple store front centers to lease out
It all depends on how much she has to invest. Is it cash? Not sure about your local area but you would likely need about 1,400,00.00 to get a 100k return on commercial retail real estate. This is based on a 7.5% cap rate. So if you are very lucky and find something with a 10% cap rate then you would need 1,000,000.00. Then you need to factor in things like long term maintenance (example roofs can be very expensive) and vacancies.
Posted on 2/18/15 at 11:07 pm to Hu_Flung_Pu
From what you've said so far, this just sounds like a disaster in the making. What is her career background, how much time does she plan on spending in these ventures, how much money is readily investible, could she be completely full of shite and talking a big game? Did she ask your advice in this? What's your background.
Posted on 2/19/15 at 10:21 am to Costanza
quote:
What is her career background,
IT Database management
quote:
how much time does she plan on spending in these ventures,
It is to replace her job right now. It would just be less stressful (not with the people she works with).
quote:
how much money is readily investible,
75k - 100k
quote:
could she be completely full of shite and talking a big game?
nah, she has some friends that owns their own storage facility they built from the ground up and has a good business model and plans. This is what sparked it.
quote:
Did she ask your advice in this?
Yes, I would like her to do this or something like this. I don't mind working businesses. I would rather keep working a regular job for consistency and health benefits or my wife work the regular job and I run a business.
quote:
What's your background.
QC/Process improvement work at DOTD. I am getting my masters in Industrial Engineering atm.
Posted on 2/19/15 at 10:32 am to Hu_Flung_Pu
Unless she has a ton of cash saved up, 100k is a pretty lofty goal. IF she does have cash (500k-1m), investing in the market would be the easiest thing to do. I can only speak to real estate in rural areas, and she would have to hump it for that much pay. Probably more work than she does now. My dad and I buy and flip/rent houses in the little town I grew up in, and there's just not enough inventory. If you buy trailers, your client base is a different breed. They can't get loans, so you either finance, or rent. My Uncle (dads brother) has trailer lots, and mainly rents to mexicans. He has one full time employee to maintain the lot. Don't know how much he makes, but it is all he does.
Posted on 2/19/15 at 10:47 am to Hu_Flung_Pu
She doesn't have enough capital to sustain herself or a business through lean times IMO.
It will not be less stressful to own a business and depend on it for your livelyhood. I'd know. She nor you have any experience running a business and it's going to start out underfunded.
I like seeing entrepeneurs but this sounds very risky to me.
It will not be less stressful to own a business and depend on it for your livelyhood. I'd know. She nor you have any experience running a business and it's going to start out underfunded.
I like seeing entrepeneurs but this sounds very risky to me.
Posted on 2/19/15 at 10:56 am to VABuckeye
quote:
I like seeing entrepeneurs but this sounds very risky to me.
Well what would be a good first business to get into for either a side business along with our jobs that can produce some income or a business to jump into and wife and MIL can run together and not work regular jobs?
BTW thanks for the help in this thread, all. I know I may be asking some dumb questions but all I know is working for someone else.
Popular
Back to top
Follow TigerDroppings for LSU Football News