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Buying a small business

Old 01-11-2019, 10:07 AM
  #151  
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Default Re: Buying a small business

Shamoo were you planning on paying cash? There are all sorts of sweet loans out there. I think you can even borrow tax free from retirement funds and stuff
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Old 01-11-2019, 10:22 AM
  #152  
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Default Re: Buying a small business

Originally Posted by 2LEM1 View Post
Shamoo lives in CA guys. Homes are a million dollars and rent out for 3-4k tops. Your mortgage is more than that, you can't make money renting out houses unless you bought years ago.


Shamoo like someone mentioned earlier, just buy a bot and start reselling shoes. Ultra low risk for a decent return. I know guys that make 5 or 6 grand a month in their spare time.
Dealing with smelly shoes? Dunno if shel'll go for that.
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Old 01-11-2019, 10:23 AM
  #153  
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Originally Posted by shamoo View Post
No she can't. She doesn't have the personality. She won't even call to order pizza because she doesn't like talking so I have to do it.
I have a gut feeling I know what she wants to do, sit at home.
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Old 01-11-2019, 10:36 AM
  #154  
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Originally Posted by mistersparco View Post
do you guys have any hobbies you can turn into a business?
Yes, but I don't know about starting one from the ground up. That's why we are looking at ones for sale which we have an interest in.

Originally Posted by 2LEM1 View Post
Shamoo like someone mentioned earlier, just buy a bot and start reselling shoes. Ultra low risk for a decent return. I know guys that make 5 or 6 grand a month in their spare time.
I never heard of this. Will Google this.

Originally Posted by 90hatch94dsm View Post
Shamoo were you planning on paying cash? There are all sorts of sweet loans out there. I think you can even borrow tax free from retirement funds and stuff
For the business or a rental property? I guess it depends on how much it is. For the rental, probably will take a loan on the current rental we have since we own it outright.

Originally Posted by tony_2018 View Post
I have a gut feeling I know what she wants to do, sit at home.
Haha. She certainly wouldn't mind, but she is also willing to work. I told her she can quit when I hit a certain income or we do something with this business venture.

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Old 01-11-2019, 10:51 AM
  #155  
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Default Re: Buying a small business

She could just roll like my wife and not work for the past 10 years. :\
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Old 01-11-2019, 12:38 PM
  #156  
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Default Re: Buying a small business

Watch these when you get a chance Shamoo.


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Old 01-11-2019, 02:09 PM
  #157  
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Default Re: Buying a small business

is that a competitive/saturated market?

edit: watched the video. it's something you need to have a passion for. I mainly wear sandals

Last edited by kidcool1977; 01-11-2019 at 02:24 PM.
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Old 01-11-2019, 05:38 PM
  #158  
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Default Re: Buying a small business

Interesting thread- don't have time to read it all

Shamoo - I, too, always scan that site for businesses to look at. The idea of my own business is intriguing.

My dad owned his own business - after he moved back from working out of state for a wealthy friend he closed his business. I asked him why and he said that the stress and hours wasn't worth the extra money. The emotional toll plus lack of benefits etc didn't make it worth it.

I don't think people realize how much benefit packages are worth.
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Old 01-11-2019, 07:03 PM
  #159  
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Default Re: Buying a small business

Have you considered an IT consulting company? I have a friend that started his own consulting business and he is doing very well for himself. He became an expert at something while working for someone else for years then that that experience and knowledge in the industry and started his own company. Nice having a friend like that because he almost always hangs out with me shooting when I ask him too and that him working from home with the occasional call.
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Old 01-13-2019, 11:05 AM
  #160  
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Default Re: Buying a small business

Originally Posted by 96dxB16 View Post
She could just roll like my wife and not work for the past 10 years. :\
If she watches kids full time, I would take working over watching kids all day 10 times out of 10. They get bored out of their minds at home with us, and it's near impossible to get anything done. I have a new respect for stay at home moms.
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Old 01-13-2019, 11:27 AM
  #161  
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Default Re: Buying a small business

Originally Posted by 2LEM1 View Post
Shamoo like someone mentioned earlier, just buy a bot and start reselling shoes. Ultra low risk for a decent return. I know guys that make 5 or 6 grand a month in their spare time.
Dont need more people without a clue what their doing once again ruining a good thing.
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Old 01-13-2019, 11:28 AM
  #162  
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Default Re: Buying a small business

Originally Posted by shamoo View Post
Over the last few months, I've just lost all motivation to work. Too much stress, not enough pay, never can take a true day off (I've worked every PTO day), not enough resources due to budget (I can't add headcount), etc. Basically the company wants a Mercedes, but is operating like a Kia. No matter how much you mod the Kia, it is not a Mercedes. Plus after all that I do, people still complain about my team (when they're not the problem).
Outside of Tech, with seemingly endless budgets, isn't that always the case? We're in two very different fields but I have all the same problems. Work my *** off, everyday, PTO included. Maxed out salary ceiling. Budget constraints prevent any true movement in effectiveness, but yet they always want more with less. Culture is preached but it always comes down to an accountant in a far away place looking at a spreadsheet or data model.

Even if you buy your own business, this will be the same, if not worse, except now you're the bean counter.

Only exception I've seen are people that work as freelance consultants, and command such a rate that they can truly take large amounts of time off in between jobs.
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Old 01-13-2019, 11:33 AM
  #163  
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Originally Posted by BauleyCivic View Post
If she watches kids full time, I would take working over watching kids all day 10 times out of 10. They get bored out of their minds at home with us, and it's near impossible to get anything done. I have a new respect for stay at home moms.
Yeah... I work 4a-1230p and wife works 3p-1130p and we do this without babysitters or daycare and I can verify, childcare is a PITA and unless you're one of those people that live for it, in the end, not terribly rewarding on a day to day basis.

I love my kids but no way I'd want to do that 24/7 without a professional outlet.
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Old 01-13-2019, 11:48 AM
  #164  
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Default Re: Buying a small business

Originally Posted by rino924 View Post


Dont need more people without a clue what their doing once again ruining a good thing.
Cash in on it and just don't smoke your own supply
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Old 01-13-2019, 11:51 AM
  #165  
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I keep way more than I sell and the connections I have to make to get what I want is exhausting
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Old 01-13-2019, 04:14 PM
  #166  
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Default Re: Buying a small business

Originally Posted by Skelly View Post
Sham let’s go in on a multi family property.
One 4 plex in PHX just sold, $250k rents were $800 a month.

$3200 in rent, $1200 month debt service... $2k a month cashflow... with 20% down...
Pays for itself in two years. 4 cash offers in less than 5 hours of being listed.

This is how I plan to retire before I'm 40.
Hard to find deals like this, but I have found a few. Slow going, all very profitable.

Currently managing 25 people in addition to my day job. 1-3 calls a month for minor items.
Initial purchase and setting up things is a TON of work though. Helps avoid calls/problems down the road.
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Old 01-14-2019, 08:29 AM
  #167  
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Just got through shooting the **** with the porta potty man. I pay him $65 per week for a porta potty at my remodel. He usually charges $85 - $100 per week. And he's the only employee. He said he was in seminary school in Ft. Worth and decided that's not what he wanted to do.

He came back to Bama and got a job with septic cleaning company and decided to go out on his own with porta potties after working for them for 2 years.

He owns over 60 of them and he said he usually has anywhere from 40 to 50 of them out on jobs. That's some pretty serious cash.
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Old 01-14-2019, 08:30 AM
  #168  
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Default Re: Buying a small business

poop>god
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Old 01-14-2019, 08:43 AM
  #169  
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Originally Posted by 90hatch94dsm View Post
poop>god
He has to been raking it in. He has 6 kids and 5 of them go to the local private school that is $900 per month per child. And his wife stays home. There ain't no shame in that ****!
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Old 01-14-2019, 09:00 AM
  #170  
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Default Re: Buying a small business

Originally Posted by rockcity View Post
Just got through shooting the **** with the porta potty man. I pay him $65 per week for a porta potty at my remodel. He usually charges $85 - $100 per week. And he's the only employee. He said he was in seminary school in Ft. Worth and decided that's not what he wanted to do.

He came back to Bama and got a job with septic cleaning company and decided to go out on his own with porta potties after working for them for 2 years.

He owns over 60 of them and he said he usually has anywhere from 40 to 50 of them out on jobs. That's some pretty serious cash.
Good ****.




























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Old 01-14-2019, 09:01 AM
  #171  
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shitty joke































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Old 01-14-2019, 09:04 AM
  #172  
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He's Number 1 in a Number 2 business.





Booyah!
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Old 01-14-2019, 09:08 AM
  #173  
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I"m sure if he started that in another state that needed it because they can't keep up with demand, he be bankrolling.
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Old 01-14-2019, 01:25 PM
  #174  
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Originally Posted by rockcity View Post
Just got through shooting the **** with the porta potty man. I pay him $65 per week for a porta potty at my remodel. He usually charges $85 - $100 per week. And he's the only employee. He said he was in seminary school in Ft. Worth and decided that's not what he wanted to do.

He came back to Bama and got a job with septic cleaning company and decided to go out on his own with porta potties after working for them for 2 years.

He owns over 60 of them and he said he usually has anywhere from 40 to 50 of them out on jobs. That's some pretty serious cash.
I guess it is okay, but I'm sure there's a lot of overhead/insurance which will eat up revenue.

Assuming $90/week for 50 units. Times 4 weeks is $18K a month. You have the truck, fuel, waste disposal, and other expenses. Then you're probably looking at $10-15K a month which isn't a TON for a lot of shitty (huehuehue) work. Then you're still taxed as normal. If you hired anyone, that would eat into costs. It is a lot of manual labor, and you might have to work weekends. Probably would rather work in a nice air conditioned office for the same, if not more pay right?

Originally Posted by SkyeC View Post
Outside of Tech, with seemingly endless budgets, isn't that always the case? We're in two very different fields but I have all the same problems. Work my *** off, everyday, PTO included. Maxed out salary ceiling. Budget constraints prevent any true movement in effectiveness, but yet they always want more with less. Culture is preached but it always comes down to an accountant in a far away place looking at a spreadsheet or data model.

Even if you buy your own business, this will be the same, if not worse, except now you're the bean counter.

Only exception I've seen are people that work as freelance consultants, and command such a rate that they can truly take large amounts of time off in between jobs.
Yep, exactly. Do more with less. I'm an expert in that now.

However, the plan is to do something to replace my wife's current job. I intend to keep working while she does the day to day in this "business". Once things pick up, and I can leave my job, then I'll do that.
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Old 01-14-2019, 05:00 PM
  #175  
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hmm, it def has to be something she can do and work on. I'm sure you'll be busy with your work so its gonna be hard to constantly rely on you.
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