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SVTPerformance's Chain of Restaurants
Road Side Pub
Can't decide what business to start. Please offer knowlege if you know about....
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<blockquote data-quote="Soupy" data-source="post: 3416434" data-attributes="member: 41030"><p>Don't know if it was said but, look into 1031 tax deferment plan if you do the real estate deal. IMHO, don't get into the "property flipping" game if you're going to pay interest on the money you need to buy your properties...</p><p></p><p>I own a business, and everybody says "that must be great, being your own boss, blah, blah, blah. Truth is, I work for my customers, my vendors and my employees. The numbers just get bigger on both sides of equation with very little left in the middle. I spent a long time trying to get out of being an employee in the real world, now I think of ways to get back in! The reality is that I'm too invested (literaly and figuratively) to ever leave my business ventures. So, if you're set on starting your own gig, my advice is to get into some type of sales (doesn't really matter what) with built in residuals. If you have the space available, try to get into the distribution end of things if you can avoid the tax man. The ultimate deal is some type of cash business where you can skim money for your bad habbits... Ask your local breakfast restaurant owner or bar owner, but then ask them how many hours they are there. I wish you luck with your search, and I hope this helps.</p></blockquote><p></p>
[QUOTE="Soupy, post: 3416434, member: 41030"] Don't know if it was said but, look into 1031 tax deferment plan if you do the real estate deal. IMHO, don't get into the "property flipping" game if you're going to pay interest on the money you need to buy your properties... I own a business, and everybody says "that must be great, being your own boss, blah, blah, blah. Truth is, I work for my customers, my vendors and my employees. The numbers just get bigger on both sides of equation with very little left in the middle. I spent a long time trying to get out of being an employee in the real world, now I think of ways to get back in! The reality is that I'm too invested (literaly and figuratively) to ever leave my business ventures. So, if you're set on starting your own gig, my advice is to get into some type of sales (doesn't really matter what) with built in residuals. If you have the space available, try to get into the distribution end of things if you can avoid the tax man. The ultimate deal is some type of cash business where you can skim money for your bad habbits... Ask your local breakfast restaurant owner or bar owner, but then ask them how many hours they are there. I wish you luck with your search, and I hope this helps. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Can't decide what business to start. Please offer knowlege if you know about....
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