I always wanted to have a side income/business that I can scale and eventually leave my regular job. I am free this month so want to get a start.
I like real estate, but it requires significant investment. I have enough savings to put 20% down if I have to start there, but I am looking for other ideas. My background is in technology consulting and was in banking early in my career.

like
Posting as :
works at
You are currently posting as works at

It’ll be a cash man, parking lot, laundromats, landscaping, all cash businesses

like

Cash businesses are only worth it if you properly report income… otherwise you’re sitting with a business that no underwriter will touch if you want to leverage it at some future date…

Plus, banking for heavy MSB related activities are difficult to get approved…

like

Buy a parking lot or small business

like

I’d have to be turn key… and people don’t normally exit performing turn key passive income businesses… unless there’s an estate dispute forcing the sale…

like

When I was younger I bought a condo in Myrtle Beach… it was the equivalent of a studio for $49,900… I put it on the hotels rental program and it pumped out rental income of $15K/year net of fees… all in I maybe made an extra $5K/year… so a 10% CapRate… it was good, bought a second and a third… but sold them all to buy a primary residence, and rented out the other two bedrooms to a couple buddies of mine…

That was in 2011-2013… prices are probably higher now, but it’s outside of the box vs. a single family LT rental…

like

These go for 100-150k now with large HOA dues. Very hard to make money in Myrtle in this area now.

like

Wholesaling houses requires significantly less cash than owning your own long term rentals

At the end of the day, it’s a sales job and you really have to be a People’s person

like

Related Posts

I’ve been in sales for nearly 3 years doing alright and all of a sudden I have developed an anxiety towards sales that has made my job unbearable in the last few months.
I haven’t made any major mistakes that triggered this, I just gradually developed so much self doubt.

Like I spend way too long overthinking my phrasing in communication lately…

Has anyone else experienced this?
Any advice on how to get through this?

like

Warm greetings Fishes,

Can I please get 11 likes to enable DM

like

माफ़ी_माँग_ओबामा (In response to Obama’s comments on Rahul Gandhi)

Post Photo
funnylike

I was told getting CFE could increase my earing potential by 17%, has this been anyone else's experience?

funny

What is the best place to get a massage?

like

New Vat and CIT law 4 Costa Rica

like

Hi!

I’m keen in getting into a finance role (DF&A Analyst) at
Apple - would anyone be able to refer me to their office in London?

Happy to connect and share a bit of my background!

like

My wife and I just had our second child, and we have also been dealing with her cervical cancer diagnosis. It has been a stressful year, to say the least. I want to do something nice for her, but money is tight right now because of the cancer treatment costs, and her being on unpaid leave because of the cancer treatments. What is something low cost I can do that will be a nice “couples thing” so we can de-stress, but also make her feel special?

like

I have done a big mistake by joining EY.. I regret daily.. i don't know where I am going n what I am doing.. they have made me sick n mentally ill.. even I want to cry but i m not able to do.. just want to left this organisation but not able to do so because of the market condition.

Please advice me what I can do to cope with all this?
:(

likehelpfulfunny

Someone made disposable Hijabs as part of PPE. Super cool idea!

like

Anyone at Ogletree Deakins, Jackson Lewis, Littler, or Fisher Phillips who can share the latest on their remote work policies?

like

Hi Everyone, has anyone worked in the field of HR Analytics?

like

Bain & Company Best non-MBA master’s program to get into consulting in US/EU (preferably MBB)Boston Consulting Group McKinsey & Company Bain & Company Kearney

like

Got offer from Salesforce for the role: Sr Platform Solution Engineer with salary 160k(70/30). Is it a fair salary with 6yrs of consulting exp and SE as the first time(total 6yrs of exp)? Location FL.

like

Hey guys, anyone from Axtria here? Had some questions on company culture and employee benefits

What's the salary range for a Consultant at Deloitte?

like

Health question: How to deal with chronic back pain? I may have a herniated disc and wondering if surgery is a viable option. I hate being restricted actively and constantly reinjuring myself.

like

Reports are that the average tenure of people in top consulting firms is 2.4 years. Interesting how the industry is even shorter. Thoughts?

Post Photo
like

Any strong performing seniors looking for a pay increase and potential fast track to manager? Reach out to me. Expanding the team and would love to bring in some new talent.

like

Anyone know the agency who did the Ontario workplace safety spots? Thought those were funny.

like

Additional Posts in The Real Estate Bowl

Bought a 300k end unit townhouse in Atlanta, 14 months ago with 10% down (3.65% interest rate). Prices in subdivision have been increasing over that period. This month 2 non-end units listed for 330k and sold right away. The opposite end unit on my 5 unit building was listed for 340k and is currently pending. What is the best way to stop paying PMI since since I should be at 20% equity?

like

We just moved into a 50 year old house. We got the popcorn ceiling removed in the garage plus had the walls done. We didn’t use an official asbestos expert because of the price.

The horrible, dirty people that lived there before us left us a crappy mess. Hope we are not exposed, nor the neighbors.

like

Currently looking for a roommate to share a 2 bed apt with in suffolk county long island. Message me if you are interested. Budget around 1300-1600

like

The threat of nuclear bombs flying over cities should crash the real estate market

like

At what income level should one be comfortable to spend 2400/mo on rent in HCOL? Assuming single, no kids, no debt or major expenses.

like

Hello Everyone, If you are a Real Estate Broker , Realtor or a business Broker please kindly send me a Dm

like

Due to a family situation we are looking to move to a different state. Normally we would sell our current home and buy a new home in our new location. However, with todays prices and interest, will it make more sense to rent out our current home and rent a home ourselves vs. selling and buying immediately when we move? We are moving from Vegas to Sacramento and we are not sure how long we would stay in the new area. Thoughts?

Any one knows what’s the easiest way to order a radon test for new construction?

like

How long did it take you to purchase your first rental property once you started looking? I’ve been working with an agent for about a month with one offer not accepted, feeling discouraged

like

First time homebuyer here. Any good 101 course which covers end to end of home buying. I know there are few government affiliates who offer in person courses but am looking for an online course.

I am looking to buy my first property soon - preferably new constructions (anything except condos) anywhere in Ontario/Canada. Any suggestions where I can turn to find new construction projects? I understand I need an agent. Until I find a good one, I am looking at the houses myself. Any suggestions where I can get information about new projects happening in the province?

like

Looking to buy in the DMV suburbs (northern VA). Is this the wrong time for such a move? Beyond down payment, got about 6mo emergency fund and must tap into it for moving&house expenses like furniture

like

Is there an investment fund or group that anyone knows of? I heard of Fundraiser but it seems very convoluted. Looking for an investment group or development group to invest with

like

Who has done FSBO? Thinking of doing it for 2 of my houses that I’m selling in the spring time.

like

I really need recommendations. I want to replace the through-the-wall AC units in my condo. Anyone buy ones you really like? Or rent an apartment and are happy with your (newer) AC units?

Tried doing research online but reviews are all over the place. And would love firsthand recommendations.

like

Got a letter of default and acceleration notice from bank who repurchased my mortgage due to what they thought was mortgage fraud but wasn’t. I’m contacting a lawyer but has anyone gone through this? I know they want it off their books and suggesting I refinance but my rate will increase and they’re demanding legal fees too

like

Can I get a commercial loan without 25% down?

like

If anyone has problems with leaks or anything facade related I work in facade restoration, preservation, rehabilitation, retrofitting in NYC. I’d be happy to discuss potential solutions.

like

Are the <3.5% rates gone for good?

like

(1/2) People who work in the Bay Arae peninsula (Menlo Park) and live in the east bay- which is a good place to buy a house, upcoming, easy to rent or Airbnb in case I have to move back to my country! Prefer single family home as young as possible.
1- brentwood
2- Pleasanton
3- Dublin (expensive)
4- San Ramon (very expensive)
5- what else?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal