What other income stream other than RealEstate & Stock?

It is funny how engineers would rather do anything besides engineering. I started my own engineering business at 33. Retired at 48. Not a bad business. But not nearly as lucrative as RE.

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We think we do. I think part of it is burning out. I can code all day long, but i dont want my side income to be coding. At least not 100%>

You aren’t going to make a living from 1 franchise location. You need to scale amd own a bunch. It can only be absentee if you have reliable management. Those businesses have very high turnover, so you need a plan for when managers quit. That’s another reason to have multiple locations. You can share staff across them.

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When it is too good, it can’t be true.

A female duck quacking in the street.

Rest and recreation?

Running a business is fairly complicated. Not everybody know how. The backend side of the business is a killer, if you don’t know you can’t make it profitable.

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Finally someone who actually know. You try?

I don’t think anybody particularly said anything against this. That’s my first question: How do you scale this? For fedex route, for example, one of the big issue is driver churn, so you need to be hiring very frequently. How do you find drivers, can the manager do the hiring etc.

If your drivers don’t show up, I assume you have to go drive

:scream:

Yup, constant problems. Maybe have part time people with shifts, and pay overtime or something.

What’s our advantage in these brick and mortar businesses? I think it’s easier for people in this forum to make 350k by working a job than owing such a brick and mortar business.

I don’t like these businesses. It’s very hard to find an absentee business or even a passive business in brick and mortar world. Even if you have a profitable milk tea shop, it usually doesn’t last long. I think RE is golden. Once you have a 350k cashflow, it’s moe likely to continue and increase in the long run. Also it’s much less labor intensive and it can be fairly passive, absentee is totally possible.

If you already accumulated some capital, just go the RE route. If you don’t have much capital nor much high value skill, but have too much time and energy to consume, you can become a small business owner.

I would rather own an apartment building in flyover state than own a small business in world class cities

Yes. That is what my friend who operate something like that do.

They are not satisfied with $350k. Extra money :slight_smile: not main job. Side job.

If there are, I would have already owned dozens of them. Wait… I own a RE rental business :slight_smile: PM of Austin is my employee.

You’re right. Sell it before the downtrend is known.

We are in agreement.

You have tons of time, did you ever investigated owing small businesses?

Manch has tried but his money maker is stock trading and RE. Who else has tried?

Talking to me? I have less time than you think. I am time sharing.
Actually I have a motivation to own a mom and pop business like those discussed but not for money. Is finding a wife for my sons. Need to expand the scope of meeting girls of their age :slight_smile: I will sell the business once the goal is accomplished. As you pointed out, RE rental is the best passive business. Owning dividend paying stocks like AAPL is similar. I have so much time available because I own businesses passively rather than owning passive businesses… I farm out the work to more capable guys and have a cut of their hard work. Is a fair trade.

I’ve always thought about this for any business. I almost join my friends in a software development business, and a private equity (small one :slight_smile: ) business.

I know some people who have done it. One owns multiple locations of a commercial carpet cleaning business. He’s basically FIRE now. In the beginning, he was the one going and doing a lot of the cleaning himself working 60-80 hours a week. He has to scale to multiple locations to clear enough money to hire a manager to run it. Now he has enough clients it mostly runs itself. It took ~5 years to hit that point.

I know another that owned 8 McDonald’s franchises (4 after divorce). They were a cash cow. He bought them in small towns there they were about the only thing in town at that highway exit. It seems counter intuitive, but they were dirt cheap locations to build and there’s almost no competition.

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I want to own a couple McDonald’s…

@harriet, you better watch out what boba places you frequenting now :rofl:

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@hanera is such a good dad :rofl: