Owning multiple businesses

[danny x]

Wondering if those owner/operators of HVAC/R businesses own other businesses as well, and what they might be.

Dan

[HeyBob]

My wife and I have commercial rental property

[dhvac]

I used to have rental properties
now i am also doing "flip houses"
buy em cheap fix em up sell em high

[flange]

rental property also. if you buy well, you can sit back and enjoy the profit each month. i have a cabin that nets in one weekend enough to pay all costs on itself. i use it for ski weekends all winter.

[danny x]

I am starting to see a trend

Dan

[James 3528]

Rentals and starting something else.

[spotts]

here too. Should net an extra 60 grand this year off them. Finishing my last one now. Bought it in lousy shape for 32,000, putting 15 in it, should sell for a little over 100.

[Edited by spotts on 10-04-2005 at 11:00 AM]

[t527ed]

rental triplex, looking for another or flip house.

[James 3528]

The best thing going is land in areas where growth is projected. Less troubles than buildings

[flange]

for anyone out there who is doing some real estate, if you use an inexpensive property to build to a more expensive one, there is a tool called a 1031 tax free exchange. this can save you thousands in taxes depending on your situation. my latest saved me just under 23 g's, of course i did have to buy another property. if you need info, google 1031 exchange

[Dad]

I have a monkey with a tin cup and with my organ grinder we produce enough income to .... never mind....

[Green Mountain]

We have several real estate investments as well. Unless you can run it full time I would suggest not getting into renting residentual. One of the worst things I ever did. Really is a PIA. There is far less were and tear on yourself and your property if you go commercial.

When I retire I will probably do some flip houses.

Back when the kids where little we had an ice business. That was a fun thing. The kids would help me deliver ice on the weekend. They helped my wife bag up the ice during the week. We made enough money one year to fly us all down to DisneyWorld. So they were happy.

[bennytec]

Alot of Companys I've worked for over the years ( not all Hvac) have had rental propeties. Its great to keep a constant income it helps during the slow times and during big jobs ya don't get paid till the end.

Someday I hope to start getting rental properties, to gain money cause it takes money to make money.

[danny x]

I understand the concept of owning property, but I feel owning/renting residential property is a long term investment. And could potentially cause problems with tenants, ever increasing taxes, damage to property. and general upkeep expenses, not to mention the capital it takes to get going.
I am trying to find more of an absentee business like a coin operated laundry mat, or women’s fitness club like curves. Perhaps even a dunkin donuts
Anyone have any experiences to share?

Dan

[jacob perkins]

Originally posted by danny x
women’s fitness club like curves even a dunkin donuts

I am not an astute business person,so help me with my vocabulary...

If you put these two next door to each other,what would that be called? Is there a term for that?

[danny x]

Originally posted by jacob perkins

Originally posted by danny x
women’s fitness club like curves even a dunkin donuts

I am not an astute business person,so help me with my vocabulary...

If you put these two next door to each other,what would that be called? Is there a term for that?

yeah...

good marketing

Dan

[shet talker]

I moonlight as a purse snatcher. That is also how I get my work out.

[spotts]

that makes more $$$$$$ unmanned than my whole biz.

[oroy54]

I only have one rental house at this moment. I have made more than it costs me. I am looking for another one. One Tip, no renters on a septic tank or Mobile homes. Roy

[condenseddave]

I tried selling my body, but that went bankrupt.