Real talk about businesses and money and what to do

[Gasser64]

Get

Where are all the customer's yachts

On audio book.

[zachary]

I remember talking to you a couple of years ago about getting into RV's. I have the cash to do it now but not sure how to really get started? Did you start off small? 1-2 RV's and expand over the years? What's your goal when buying a new RV? Do you pay cash and know you want it paid off within X amount of time? Buy the RV through a dealer with the goal of renting it out enough to pay the note?

RV rental is really hard to get into. There are only 2 insurance companies in America that insure commercial RV rentals. They are both IMPOSSIBLE to get in with - lots of hours of training etc - then you have to prove you know what your doing. I did this by buying a 20 year old existing business and their expertise. I was fortunate to get into an established business then it took off.

I have a regular 8-5 job as an Exploration Geologist. This is a side gig for me that has grown into something worth exploring.

If you are just renting to make the note payments your not winning. You need to have the financial stability to do it on the side or you will not get ahead.

We have been focused on paying down debt ONLY for the first 18 months. Not 1 personal draw has been made.

Paid 60k for the business name, website, and original inventory. Then went on to spend 350k more on new upgraded inventory, website redesign, and advertising. Some of this was personal loan funding the rest we got an OGL line from our bank so we are not constantly running our credit.

We have paid down over 160k in debt. Getting close to getting some payouts. This is a business we will ALWAYS carry debt in and rotate units out every 1-3 years. Just wanted all our personal debt wiped out and a good chunk of equity before we started making draws.

[black2002ls]

Anyone doing bouncehouse rentals?

My wife and I have been kicking around ideas to partner with my neice (HS Senior) and nephew (HS Sophomore). Something with a relatively low startup cost that they can run on the weekends and during the summer.

We've talked about a snow cone stand and bounce houses.

The plan would be to front the start-up costs and provide guidance. Set up such that we were all equal partners. Until start up costs were covered (paid back) revenue would cover operating expenses and wages for them working the business. Once start up costs were paid off, we would split revenue. Once my Nephew graduates high school, I would gift them the majority share of the business.

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[zachary]

Not "shark tanking" your bounce house idea here....

It is a hard business to make profit on with the amount of work. Now you find several that are going out of business get your inventory for cheap find the right college kids to run it ....open a dozen or so locations in different towns that offer complete party packages - get the name out keep expanding- now your getting somewhere

[zachary]

well lets bump this. So I began playing with some stocks aside from regular investments a while back. I do nto dabble in just a stock or 2, if i make a bet it is at LEAST 1-2,000$ per shot.

I CRUSHED it with AMC like F'in crushed it. Did well with Target, Nokia, IBM, Roblox - Disney one of my big flops but that is long term for me. I think they will buy some other streaming services out down the road once consolidation of them hit.

https://www.amazon.com/photos/shared/Ji07hwg-TrSftQOTcDnG0A.Z1kXnuHgmw1UphfgdCHVsZ

[Broncojohnny]

well lets bump this. So I began playing with some stocks aside from regular investments a while back. I do nto dabble in just a stock or 2, if i make a bet it is at LEAST 1-2,000$ per shot.

I CRUSHED it with AMC like F'in crushed it. Did well with Target, Nokia, IBM, Roblox - Disney one of my big flops but that is long term for me. I think they will buy some other streaming services out down the road once consolidation of them hit.

https://www.amazon.com/photos/shared...mw1UphfgdCHVsZ

Everyone is crushing it in stocks right now. It is hard to go wrong. When it blows the fuck up, it is going to be spectacular. Once it blows, that will be the time to buy the great companies that get flushed with all the shit.

[juiceweezl]

Everyone is crushing it in stocks right now. It is hard to go wrong. When it blows the fuck up, it is going to be spectacular. Once it blows, that will be the time to buy the great companies that get flushed with all the shit.

Every bit of this. Anyone who recently jumped into the market and thinks they're a genius is sorely mistaken. I think the wise investment right now is to stockpile cash in safe investments and then buy real estate when it crashes...because it will soon.

[Craizie]

Every bit of this. Anyone who recently jumped into the market and thinks they're a genius is sorely mistaken. I think the wise investment right now is to stockpile cash in safe investments and then buy real estate when it crashes...because it will soon.

Everyone's a genius in a bull market! A lot of people are gonna be stuck holding nothing but their dicks soon.

[4EyedTurd]

Everyone's a genius in a bull market! A lot of people are gonna be stuck holding nothing but their dicks soon.

I’m definitely ahead of the game then cause I’ve been holding my dick for a while.

[TX_92_Notch]

Every bit of this. Anyone who recently jumped into the market and thinks they're a genius is sorely mistaken. I think the wise investment right now is to stockpile cash in safe investments and then buy real estate when it crashes...because it will soon.

I'm under contract to sell my one rental property for $65k more than I was offered (and turned down) 18 months ago. We listed it on a Friday, had 8 showings over the weekend and received 4 offers. The worst offer was $9k over asking and the best was $21k over asking. And our asking price was WAY higher than I would've asked if it weren't for my realtor.

I almost feel bad for the buyer, but hey.

[Craizie]

I'm under contract to sell my one rental property for $65k more than I was offered (and turned down) 18 months ago. We listed it on a Friday, had 8 showings over the weekend and received 4 offers. The worst offer was $9k over asking and the best was $21k over asking. And our asking price was WAY higher than I would've asked if it weren't for my realtor.

I almost feel bad for the buyer, but hey.

Is it an investor or family ?

[TX_92_Notch]

Is it an investor or family ?

25 YO single kid buying his first home.

[Craizie]

25 YO single kid buying his first home.

Fucking oof

[Gasser64]

nay retire to jail

Hahahah!!

[black2002ls]

I'm under contract to sell my one rental property for $65k more than I was offered (and turned down) 18 months ago. We listed it on a Friday, had 8 showings over the weekend and received 4 offers. The worst offer was $9k over asking and the best was $21k over asking. And our asking price was WAY higher than I would've asked if it weren't for my realtor.



I almost feel bad for the buyer, but hey.

We had a realtor friend tell us last week that if we were to sell our house, the price she would list it at would be more than 100k over what we paid for it. We moved in just over 6 months ago. [emoji15][emoji15]

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