What business adventures are you involved in?

[wagrxm2000]

The investment thread is getting old. Are there any businesses people have started or invested in that they want to talk about?

With the market at a peak, I'm interested in seeing what people have done with their money.

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[BMBiology]

We don't need to start another investment. You two need to send PMs to each other.


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[wagrxm2000]

Well it gets a little annoying when everytime I post my thoughts I get shot down as though I don't know anything.

So I want to see what side projects/jobs people do to make good use of their money.

I've always been intrigued by the restaurant business but always hear its hard to start your own restaurant.

 

[ldiot]

The investment thread is getting old. Are there any businesses people have started or invested in that they want to talk about?

With the market at a peak, I'm interested in seeing what people have done with their money.

Have you ever considered indexing?

Jokes aside I'm pretty sure like 2/3 restaurants that open fail. Tons of people open restaurants. Why? Probably because every average Joe understands how a restaurant works. Anyone who wants to start a company is only going to consider business models that they are already familiar with.

While I don't have any suggestions I'd personally go for something with more upside potential as opposed to service industry/retail sales.

 

[Rukn]

The investment thread is getting old. Are there any businesses people have started or invested in that they want to talk about?

With the market at a peak, I'm interested in seeing what people have done with their money.

just shutup

 

[CMUchicka]

Well it gets a little annoying when everytime I post my thoughts I get shot down as though I don't know anything.

So I want to see what side projects/jobs people do to make good use of their money.

I've always been intrigued by the restaurant business but always hear its hard to start your own restaurant.

i know two people:
Person A - Bought 10+ fast food chains stores in span of 10-15 years i think, never practiced after owning 2 chains and living pretty nice life..
Person B- Buys properties across country, left practicing while ago.

What i heard from people is that if you have 500K lying around, you can definitely start something with chain businesses..

 

[wagrxm2000]

Have you ever considered indexing?

Jokes aside I'm pretty sure like 2/3 restaurants that open fail. Tons of people open restaurants. Why? Probably because every average Joe understands how a restaurant works. Anyone who wants to start a company is only going to consider business models that they are already familiar with.

While I don't have any suggestions I'd personally go for something with more upside potential as opposed to service industry/retail sales.

Yeah that's what I've heard too. It seems like you have to go way outside the box to have a hit. We once ate at a place that would sausage any meat like alligator and its always packed. Burger joints have gotten out of hand.

 

[wagrxm2000]

i know two people:
Person A - Bought 10+ fast food chains stores in span of 10-15 years i think, never practiced after owning 2 chains and living pretty nice life..
Person B- Buys properties across country, left practicing while ago.

What i heard from people is that if you have 500K lying around, you can definitely start something with chain businesses..

Every so many years I get really into rentals but I always end up not wanting to get calls late at night. Plus this isn't really an area where you can have a manager and make a decent profit.

 

[TheBlaah]

Every so many years I get really into rentals but I always end up not wanting to get calls late at night. Plus this isn't really an area where you can have a manager and make a decent profit.

I currently lease out 6 properties. I generally talk through text. And a general rule of thumb I have is never call past 11PM. It's not like I can call a handyman or service guy at that time anyway. I use a manager for 2 of them. It does cut down the profit by a decent amount.

But it's a decent enough side business. It was especially profitable right after the housing bubble; I was nearly earning a profit of double my investment just for the sale alone for my properties after ~3-4 years. Housing growth rates have slowed down a bit now though. I'm earning a net return of around 6% annually through leasing and around 17% annually once I sell them.

 

[Schwimmy]

My friend in Florida is a retirement investor/wealth transfer specialist. Top 1% in the nation, can clear an obscene amount of money monthly just by working out of his own little townhouse with his dog. He has a passion for what he does, and he pays his secretary (prior secretary to the CEO of Sears) bonuses for referrals. I've thought about discussing setting him up a website on my own dime and having him kick back referrals to me like he does with the secretary.

Other things my wife and I have considered was opening a business we could work together at. The problem is that she doesn't want to do any of the work, just spend time with me and socialize with strangers. She wants to do photography (bleh) while I'm in favor of a hot dog stand (now we're talking!).

 

[holymolys]

I'm really into rental properties being friends with a real estate & property manager, they aren't charging me a monthly %fee on the rent I collect. Also my dad can do repair work if needed, saving a bucket load. Current tenant is great, monthly return feels like free money, hasn't had to do any major fixes yet, Looking to buy a second in the near future.

 

[TheBlaah]

I'm really into rental properties being friends with a real estate & property manager, they aren't charging me a monthly %fee on the rent I collect. Also my dad can do repair work if needed, saving a bucket load. Current tenant is great, monthly return feels like free money, hasn't had to do any major fixes yet, Looking to buy a second in the near future.

Just wait until you have your first bad tenant and have to evict someone. It can be a giant hassle depending on what state you live in.

As for the property manager, that sounds like a great deal, but how are they making money without the monthly fee? Just a flat fee? I currently have to give them the first month's rent and 7% monthly.

 

[confettiflyer]

I'm equal partner shareholder and director for a corporate holding group I helped start. It houses two separate divisions in the creative arts (one was a personal hobby turned business). We're starting a third division comprised of a boutique clothing shop, not yet open (maybe in the fall).

I do mostly financial/tax strategy and compliance with some bookkeeping/payroll/benefit administration now. No day to day operations anymore, just hired our 4th employee last week for the clothing division and retained an attorney for IP matters related to the other divisions.

Profitable, very low recurring overhead, but not a billion dollar corp, it's nice having extra cash and the flexibility of running your own business. I find it much easier to manage a corp. than a sole proprietorship for some reason.

Long term plan might be to amass money and buy commercial property or franchise opportunities, but nothing set in stone. Definitely not leaving pharmacy, but if in a pinch, this can pay the mortgage and food with a little extra effort.


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[BenJammin]

I run several gaming servers. They earn enough to pay for my yearly vacations and alcohol budget.

 

[holymolys]

Just wait until you have your first bad tenant and have to evict someone. It can be a giant hassle depending on what state you live in.

As for the property manager, that sounds like a great deal, but how are they making money without the monthly fee? Just a flat fee? I currently have to give them the first month's rent and 7% monthly.

She is borderline family and get a lot of business referral from us, so only charged me first month's rent. They screen applicants for me and I'm on my second tenant, my 1st tenant left about half way into the contract, but he paid last 3 months worth of rent up front so it turned out not terribly

 

[Humble Sloth]

She is borderline family and get a lot of business referral from us, so only charged me first month's rent. They screen applicants for me and I'm on my second tenant, my 1st tenant left about half way into the contract, but he paid last 3 months worth of rent up front so it turned out not terribly

you should have started some civil litigation against them. A lease is a binding contract. I had a tenant do the same to me. She skipped out of state with 3 months left. I contacted her nothing. Her brother said aunt is a super lawyer, they will fight it blah blah. I file the civil complaint and her parents call me begging to stop the litigation. They payed up in full plus all the penalty i added from subsections of the lease.

 

[ldiot]

I run several gaming servers. They earn enough to pay for my yearly vacations and alcohol budget.

Interesting. A few years back I made ~30k in gaming (real world trading). Almost paid for my undergrad.

 

[TheBlaah]

Interesting. A few years back I made ~30k in gaming (real world trading). Almost paid for my undergrad.

Dayum. You put them gold farmers to shame. I remember selling my account for WoW for like 1000 back in its prime. What game did you play?

 

[ChalupaBatman86]

Business adventures or ventures?

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[ldiot]

Dayum. You put them gold farmers to shame. I remember selling my account for WoW for like 1000 back in its prime. What game did you play?

Runescape lol

 

[Pharm_D2B]

Runescape lol

Staking?


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[ldiot]

Staking?


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Yup lol. Reached 70b and got cleaned then rebuilt to 130b. Only sold ~60b before losing the rest again. Had a maxed level 113 with 1 prayer then another level 113 with around 85/85/85 and 70 prayer. Maxed account was named Cavs321O (with the letter "o") and the other account was Cavs3210 (with a "zero"). Not sure how much you know about the game but basically people would think the letter "o" was the number "zero" and look up the wrong account on the highscores. So I would have way better stats. After a few weeks after free trade returned people started to catch on so the profits were short lived. If I could go back in time and do it again I could have walked away with 100-200k but I made some stupid decisions that resulted in some major losses. Losing 15 grand in 60 seconds and over 50k in 1 sitting will give you nightmares for a few months that's all I can say; but can't complain I still made a descent amount.

You can see me losing the equivalent of 4 grand in this video at 1:15

 

[PAtoPharm]

Runescape lol

I have played videogames my whole life, but I've never really been into online games. I don't know much about Runescape. Do most people play that particular game for the purpose of making money? If someone wants to play it with the goal of generating income, do you know how to go about doing that?

 

[Pharm_D2B]

Yup lol. Reached 70b and got cleaned then rebuilt to 130b. Only sold ~60b before losing the rest again. Had a maxed level 113 with 1 prayer then another level 113 with around 85/85/85 and 70 prayer. Maxed account was named Cavs321O (with the letter "o") and the other account was Cavs3210 (with a "zero"). Not sure how much you know about the game but basically people would think the letter "o" was the number "zero" and look up the wrong account on the highscores. So I would have way better stats. After a few weeks after free trade returned people started to catch on so the profits were short lived. If I could go back in time and do it again I could have walked away with 100-200k but I made some stupid decisions that resulted in some major losses. Losing 15 grand in 60 seconds and over 50k in 1 sitting will give you nightmares for a few months that's all I can say; but can't complain I still made a descent amount.

You can see me losing the equivalent of 4 grand in this video at 1:15

Yeah I used to stake all the time, I only really got away with selling 5B the rest I just staked over and over again.


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