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Looking for suggestions on invesyment / small business
#1
Some time in the next 5 years or so, I'm going to retire from the corporate world and do my own thing that I can either pass down to my kids, or sell for permanent retirement.

If you had about $1,000,000 to invest, what would you do? Looking to get far bette rreturn than just letting it sit in the stock market or mutual funds.

I'm thinking about several ideas, but thought I'd tap into the collective think tank here.

So far, the top of my list is a storage unit facility.
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#2
I know this guy in W. TN that has a mustang restoration. He is a good guy and really likes mustangs..... OK a bit more serious now. Alot depends on your area (assuming you want to stay local). What are the area demographics (Avg age group, Family incomes, etc. etc. etc. etc.) I recently read some articles regarding indoor go cart racing track franchises coming on strong. In the midwest that may be a good base for consideration for family activities during the colder months. This takes ALOT of homework so don't just say you have money to spend and find something quickly. The money will be gone and the venture could fold leaving nothing for you or the family. I always encourage entrepreneurship ( I did it once ), but definitly do your homework and cover your back legally. Things are not the same as they were 20 years ago in the business world.

BKDunha
72 Mach 1 H-Code (Concourse driven restoration)
67 S-Code Factory GT with 4-Spd

68 Mercury Cyclone (Pro-Street project)
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#3
If it was me, I'd buy land and build units or apartments...
Outlay upfront, project manage the building of the units, council approvals, inspections, etc.
Reap the rewards at sale or auction day.

It's a good way of getting the family involved also. My wife did a lot of the admin work.
It really depends on how your housing bubble is holding up also.
I trust the worst is over for you guys in the States.

[Image: Image3.png]
Jim
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#4
CZ-75;157896 Wrote:Some time in the next 5 years or so, I'm going to retire from the corporate world and do my own thing that I can either pass down to my kids, or sell for permanent retirement.

If you had about $1,000,000 to invest, what would you do? Looking to get far bette rreturn than just letting it sit in the stock market or mutual funds.

I'm thinking about several ideas, but thought I'd tap into the collective think tank here.

So far, the top of my list is a storage unit facility.

+1 on the storage units. they bring more $/sq.ft. than rental apartments and much lower utility costs plus no tennants/ associations or renter protection agencies to deal with. I used to work for a billionaire who was investing heavily in storage units.
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#5
I've got these people that make trips for me to Mexico.......

Cool

The storage unit thing WORKS. I know 3 folks that do that and all three are making money. the key word is "residual" income. Other than that, I would do something else real estate related. I LOVE the go cart thing and looking at just that myself right now along with another idea I'm not sharing.


67 Diamond Blue Vert

[Image: images?q=tbn:ANd9GcRveIaRU6OAzTfd2Mv6ypG...mJJrHJ_B_Q]

DUDE

LOL even my sig line offended somebody!
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#6
With that capital it would be safe to not lock yourself down to one market. Both ideas above are great, and if you could buy some apartments that are already functioning you take a chance of regaining a profit much quicker.
Car washes depending on the area can be a big money maker, I live in Colorado springs and they make a killing out here.
The reason I say don’t lock down one market is clear, but most will buy a rentals and then buy apartments and sure where one will go up the other could follow, but holding shares of another market, commercial clean/ janitorial supplies/ car wash/ small coffee shop/ mobile dog grooming. Everyone here with pets can vouch how much they spend on their pets every year, it is over 50 billion.

Make sure you check your markets and see how flooded they are. I was medically retired from the military and opened a cleaning company in Colorado. When you look up the stats the market was weighed down with fly by nights or certain sector cleaners( residential/ commercial/ post construction) so I was able to start on residential and we have only been opened for 8 months, and we have already made the move to straight commercial. I started with nothing more than 3K and have tripled that since opening date.
With your number you could buy a few shops that are already running and kick back

1973 MACH ONE H CODE "RUSS"
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#7
What you do with a million dollars depends on how much you "need it" to live out your life. If you have a good retirement coming in and it's just extra cash you can be more adventurous. If you need it for your retirement, careful on start up business investments, the majority of them are currently failing. Times are currently uncertain, there are tons of new regulations/taxes under review and none of them are favorable to making a profit, if the majority of them are passed, unless your in a green energy type of business, your million dollars will be redistributed to special interest groups; turning a profit will very hard. I would put it into secure investments until things settle down and we know where the Country is going. That's just me.

Jim

Jim

M code 71 Mach 1, 351 4V Cleveland, Ram Air (not factory), C6 Trans, 3.5 rear
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#8
Good advice guys!
I already have money set aside for tuition and weddings for my 2 daughters.

I have plenty (actually too much) life insurance that is paid up, and growing by purchasing additional paid up insurance with the dividends.

I have a decent sized IRA that should be ok to live on by the time I formally retire, which won't be for 10-15 years.

What I'm thinking about is taking inheritance and investing it into a cash rich asset that will require a manageable amount of my time so I can continue to work while it ramps up.

rpmcarter;157914 Wrote:I've got these people that make trips for me to Mexico.......

Cool

Ever see "We're the Millers"?
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#9
CZ-75;157936 Wrote:Good advice guys!
I already have money set aside for tuition and weddings for my 2 daughters.

I have plenty (actually too much) life insurance that is paid up, and growing by purchasing additional paid up insurance with the dividends.

I have a decent sized IRA that should be ok to live on by the time I formally retire, which won't be for 10-15 years.

What I'm thinking about is taking inheritance and investing it into a cash rich asset that will require a manageable amount of my time so I can continue to work while it ramps up.

rpmcarter;157914 Wrote:I've got these people that make trips for me to Mexico.......

Cool

Ever see "We're the Millers"?
okay.... lemme see here.
Nice Mach I....check
1 big ones...waiting ...check
kids are taken care of....check
TOO MUCH life insurance.... check

Is your wife Cute????


67 Diamond Blue Vert

[Image: images?q=tbn:ANd9GcRveIaRU6OAzTfd2Mv6ypG...mJJrHJ_B_Q]

DUDE

LOL even my sig line offended somebody!
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#10
One word:
bitcoins.

Let me check your shorts!
http://midlifeharness.com

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