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Posted on 11/14/19 at 11:41 am to iAmBatman
Be careful — you could get a really bad E. coli infection with whatever it is you’re dunging.
Posted on 11/14/19 at 11:44 am to DeafJam73
Start thinking about what skills, talents, and interests you have that you can parlay into an income stream. How passive or active that income stream is may be up to you.
For example, I've been playing music since I was in middle school but it wasn't until recently did I realize that cover bands make some seriously good cash for not a lot of effort. Book 3-4 weddings per month at anywhere from $1,000 to $10,000 a piece and you've got a seriously nice side hustle.
Maybe you're good at helping out with resumes/cover letters. Maybe you have a lot of knowledge about some obscure subject you could write a book about and publish on Amazon then collect that sweet royalty check.
You could also buy mineral rights and mineral auctions and pray that some oil company wants to drill on your stuff.
For example, I've been playing music since I was in middle school but it wasn't until recently did I realize that cover bands make some seriously good cash for not a lot of effort. Book 3-4 weddings per month at anywhere from $1,000 to $10,000 a piece and you've got a seriously nice side hustle.
Maybe you're good at helping out with resumes/cover letters. Maybe you have a lot of knowledge about some obscure subject you could write a book about and publish on Amazon then collect that sweet royalty check.
You could also buy mineral rights and mineral auctions and pray that some oil company wants to drill on your stuff.
Posted on 12/19/19 at 8:48 am to DeafJam73
I think real estate, but you`ll need to hire manager/s who will deal with all the additional things if you want it to be 100% passive.
Also, a good idea is not a house type real estate but some area which you can use as a co-working. But you`ll need to hire a bunch of people for this ;)
Also, a good idea is not a house type real estate but some area which you can use as a co-working. But you`ll need to hire a bunch of people for this ;)
Posted on 12/19/19 at 9:26 am to book32
Become a mortgage broker.
Posted on 12/19/19 at 3:04 pm to dukee7
quote:
Become a mortgage broker.
Ive been looking into getting into this (I am fully licensed and bonded)
how hard is it to get gain affiliate relationships with lenders?
Posted on 12/19/19 at 3:45 pm to tigersfan1989
quote:
Is real estate really passive? I know some people who own real estate rentals who work their arse off.
yes. It's passive income though, as you say, if you manage many rentals yourself it is sometimes a lot of work. If your property is in good condition it's not a lot of work all the time but as noted, sometimes.
I would add that if you have the capital to invest in rentals the return of investment is generally much better than the stock market, and much less volatile.
passive or active isn't how much you work on it, it's how you are taxed for the income
This post was edited on 12/19/19 at 5:04 pm
Posted on 12/19/19 at 5:01 pm to lynxcat
quote:
If you are $2M in capital, then put it in the stock market and collect quarterly dividends. Voila, passive income. The struggle is that you need large enough capital investment to get the scale on 3-4% dividends that the absolute dollars you receive each quarter are meaningful.
Real estate is the other but less passive with higher risk. However, it doesn't require as much capital and you can use leverage to your advantage.
This is bass ackwards. Real estate generally has a higher ROI than stocks, and the real estate market isn't near as much risk.
My wife makes 3 to 5% on her stocks. I make 12 to 18% on my rentals. The key is to know the market before you invest, purchase when it's a buyer's market, not a seller's market. Personally, I never buy a rental that I would not live in were I to need to, which isn't the same as would I want to live there. Basically, don't buy something in a crappy neighborhood or is in such bad shape that you wouldn't live there. Kind of related is don't buy a place that needs so many repairs that you would have more in it than you could recoup in a fairly quick sale.
Posted on 12/19/19 at 6:01 pm to BLG
quote:
My wife makes 3 to 5% on her stocks. I make 12 to 18% on my rentals.
Your wife is hiding money from you,or she is a fricking terrible stock picker. Jesus Christ
Posted on 12/19/19 at 6:04 pm to JohnnyKilroy
quote:
Your wife is hiding money from you,or she is a fricking terrible stock picker. Jesus Christ
she doesn't pick stocks and she isn't an active trader. She wouldn't even know the balance on her accounts if I asked her. She has an account with a local broker and she is very conservative, which of course is less risk.
That aside, I am pretty sure none of my friends or family make as much ROI on stocks as I do real estate but I've been in real estate since the 1980's, know the local market, and most of my property I bought during that hard recession for about a 3rd what I could sell for in this market. That, plus rental rates are rising quickly in this area. All those people that lost their houses accounted for that. A lot of those houses sold to investors that now rent them.
The point was to the poster that said you can make more with stocks than real estate and that it's less risk. I think most stock brokers will even tell you that stocks are more risk and more volatile than real estate. Real estate markets don't generally drastically change over 24-48 hours. Stock market can and sometimes does.
This post was edited on 12/19/19 at 6:14 pm
Posted on 12/19/19 at 6:11 pm to BLG
Stocks are more risky, thus they generally make you more money.
3% lol. That's barely keeping up with inflation. What a waste
3% lol. That's barely keeping up with inflation. What a waste
Posted on 12/19/19 at 6:16 pm to JohnnyKilroy
most of that 3 to 5% are ETF and mutual funds. It's her money and as noted, she's conservative. I damn sure am not going to tell her what to do with it. If I did and then she lost money I'd never hear the end of it. Screw that noise. She can do as she pleases with what she works for and so will I. She does also invest in stocks at the bank where she works, and does pretty well on that, but we know from experience that is more risk and can change pretty quickly.
oh yeah, and I bet you aren't consistently making 18% so don't tell me stocks make more money because I know better. If I walk into a local broker's office tomorrow and tell him I want to make 15% with as little risk as real estate I'd be the laughing stock of this town. So would you.
edit: To be fair, most folks aren't going to make 15 to 18% on rental property. I bought most of mine in the recession. I won't even buy in this seller's market, though I am building a couple of rentals (I am a residential contractor). Should also note that if you have to borrow the money to buy a rental, that obviously will cut deep into your return. Anyway, may you all make money next year, however you do it, and Merry Christmas.
oh yeah, and I bet you aren't consistently making 18% so don't tell me stocks make more money because I know better. If I walk into a local broker's office tomorrow and tell him I want to make 15% with as little risk as real estate I'd be the laughing stock of this town. So would you.
edit: To be fair, most folks aren't going to make 15 to 18% on rental property. I bought most of mine in the recession. I won't even buy in this seller's market, though I am building a couple of rentals (I am a residential contractor). Should also note that if you have to borrow the money to buy a rental, that obviously will cut deep into your return. Anyway, may you all make money next year, however you do it, and Merry Christmas.
This post was edited on 12/20/19 at 7:06 am
Posted on 12/19/19 at 8:04 pm to JohnnyKilroy
quote:
Stocks are more risky, thus they generally make you more money.
could go either way depending on measurables being used
and who is doing/investing in one or the other or both.
LINK
This post was edited on 12/19/19 at 8:05 pm
Posted on 12/22/19 at 8:07 am to BLG
hmm. I hadn't calculated ROI since I raised some rental rates closer to the prevailing market. ROI now ranges from 17% to 25% except for one house my where my daughter lives. As noted, however, I bought most of those houses in the recession and thankfully there are no loans. On the flip side, you don't do loans for stocks either. To each his own.
Posted on 12/22/19 at 9:54 am to BLG
I looked at the real estate angle pretty heavy last year. While I have no doubts that it’s a good avenue for passive income I don’t believe the start up is as easy as people make it out to be.
Most of the heavy hitters bought majority of their properties during the recession. So not only were they able to buy at lower costs they also now have more equity due to the resurgence of the market. This enables them to in turn buy more properties. The days of going out and buying a home for cheap are gone. Most of those homes don’t even reach the MLS. Agents and investors get them before even being listed. And if you were to find one, the price point you’d have to buy it at would severely lower your ROI. It takes multiple doors to make decent money. Buying a single property and expecting to sit back and make money isn’t gonna happen.
Most of the heavy hitters bought majority of their properties during the recession. So not only were they able to buy at lower costs they also now have more equity due to the resurgence of the market. This enables them to in turn buy more properties. The days of going out and buying a home for cheap are gone. Most of those homes don’t even reach the MLS. Agents and investors get them before even being listed. And if you were to find one, the price point you’d have to buy it at would severely lower your ROI. It takes multiple doors to make decent money. Buying a single property and expecting to sit back and make money isn’t gonna happen.
Posted on 12/22/19 at 10:10 am to GAFF
quote:
The days of going out and buying a home for cheap are gone
it is defitely a seller's market right now but it will eventually wane. Though I am pretty apathetic about politics and don't remember the last time I voted in a presidential election, I lean to the right and am particularly fiscally conservative. That said, as long as this economy and employment numbers are this good, the real estate market will at least remain stable. If the Dems were to beat Trump in this next election, watch for the economy to stagnate, and when that happens, real estate should depreciate. Probably a moot point because I think Trump is going to kick their arse. House impeachment notwithstanding.
I see that you're in Georgia. All my rentals are in the west metro area. The real estate market is especially strong in all the extended metro Atlanta market, which is like about 16 counties. Not a great time for an investor to buy houses, though occasionally you can find a very good deal in an estate sale, distress sale, or foreclosures. I hate that families are losing their home in a distress sale, but somebody is going to buy the property. It may as well be you as the next guy. If you work with a good real estate agent they can sometimes find these pre-foreclosures for you..
This post was edited on 12/22/19 at 10:30 am
Posted on 12/23/19 at 12:03 pm to Chasin The Tiger
quote:Storage rental units and car washes.
Real estate is probably the easiest.
Posted on 12/23/19 at 12:41 pm to tigerpawl
quote:
Storage rental units and car washes.
share with us your experiences owning these. Very curious. What is your cash flow monthly? profit after revenue and expenses? I do not own these but would like to hear more.
This post was edited on 12/23/19 at 4:52 pm
Posted on 12/24/19 at 10:10 am to hungryone
quote:
Based on your posts here, I can only imagine the Amazon reviews. Share a link to your author's page with us, why don't cha?
Posted on 12/24/19 at 10:23 am to tigersfan1989
quote:
So you’re telling me maintenance and property management fees can’t take away profits?
why can't you read?? why??
i posted:
quote:
maintenance whether with or without a PM can eat away at cash flow. it is part of the game.
what do you not comprehend about that?? Where does that say it does not affect profits?
The point is i buy with the PM expense already incorporated into my cash flow aka buying right. if numbers are not what i want i do not buy. WHat do you not understand about that?
You stated:
quote:
you are pretty much eating up any profits unless you're buying properties on a large scale ie apartment complexes.
so my profits are basically all eaten up unless i have apartments? such a stupid uninformed statement.
This post was edited on 12/24/19 at 10:34 am
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