as i approach retirement (still 4-5 year away), i'll have all my retirement accts to live on… but id still like to be somewhat active and have some passive income.. the idea is i'll have about $100k-$150k to start or get involved with some passive income. Have glanced at some franchise things, thought about maybe some real estate.. not needing to make a lot of passive income with that $100+k, just something to keep me busy at my own pace maybe… thoughts from the Ags here?
passive income
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Last: 3 mo ago by Camo
Dairy Queen franchise
No idea if it's worth it
Just always thought this as a "that'd be cool" retirement gig
No idea if it's worth it
Just always thought this as a "that'd be cool" retirement gig
Taco Casa often surprises wuth the number of people inside or going thru the drive thru
Their tacos have a lot of.meat and cheese, feels like a good deal as far as a meat and cheese to the dollar type ratio
Their tacos have a lot of.meat and cheese, feels like a good deal as far as a meat and cheese to the dollar type ratio
VTSAX
Operating a restaurant isn't "passive". Taco Casa puts black olives on tacos.
Operating a restaurant isn't "passive". Taco Casa puts black olives on tacos.
b0…. huge fan of just following the SP, most all my current retirement sits there.. but looking for something a little more active, something that will get me out of the house some once retired.
jamey said:
Taco Casa often surprises wuth the number of people inside or going thru the drive thru
Their tacos have a lot of.meat and cheese, feels like a good deal as far as a meat and cheese to the dollar type ratio
We used to go there. I think they are pricing themselves out, at least here in B/CS. There used to be two locations and now only have the one in Bryan.
Dude, do not do a franchise. You will lose your a**. VTSAX is the definition of passive income. You buy it and don't touch it unless you need it. It works for you every day and costs you 0.0004% per year.
BucketofBalls99 said:jamey said:
Taco Casa often surprises wuth the number of people inside or going thru the drive thru
Their tacos have a lot of.meat and cheese, feels like a good deal as far as a meat and cheese to the dollar type ratio
We used to go there. I think they are pricing themselves out, at least here in B/CS. There used to be two locations and now only have the one in Bryan.
I think its worth it because they put so much meat and cheese on the tacos. Taco Bueno by comparison, I think you'd need 3 or so Taco Bueno tacos to equal the meat and cheese of Taco Casa
Ghost of Bisbee said:
Dairy Queen franchise
Ha, you wish you were Boyd Crowder, don't you.
i probably should not have used the word "passive"… looking for an investment that keeps me a little active, gets me out the house a little.
I've always pictured a franchise as more of a 60 hr per week type job. Maybe i have the wrong impression
I've never owned/operated a restaurant, but I feel like that would keep you more than a little active. That seems like a 50-60 hour a week job.
I'd stay away from a restaurant. Unless you have a rockstar manager, you might be working more than you were before retirement.
These likely require quite an influx of capital but something like RV storage, carwash, laundromat seem less time intensive than the restaurant business.
These likely require quite an influx of capital but something like RV storage, carwash, laundromat seem less time intensive than the restaurant business.
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AG
Rent house. You decide which repair jobs you want to tackle and sub out the rest. Hopefully most of the year there isn't much to do.
Not really a "passive income" per se but, more of a hobby that can make a few dollars. Keeps you active, tools are cheap, can start your YT channel for marketing, spin up an e-commerce site, and maybe take the occasional trip to the flea market to sell some stuff.
Check out this guy's channel.
EDIT:
e-Commerce site
If you feel like taking a trip to McMinn, Oregon, this guy offers classes to ease the learning curve.
Classes
Tools
Check out this guy's channel.
EDIT:
e-Commerce site
If you feel like taking a trip to McMinn, Oregon, this guy offers classes to ease the learning curve.
Classes
Tools
Señor Chang said:
I've never owned/operated a restaurant, but I feel like that would keep you more than a little active. That seems like a 50-60 hour a week job.
and you get to deal with every single problem that comes up in a fast food restaurant
sounds easy!
Find a golf course and see if they need a starter or marshall to cruise around and keep the pace of play.
What am I missing here? It only pays out about little over 1%?
I always thought about mini storage. I had to use one a couple years ago and it was all online/phone. Never had to speak or meet with anyone in person, just filled out the forms online. Had a phone conversation and I had to pay them every month for the next year or so till I could move all my stuff into my new shop. Seems pretty simple and the hardest part would be finding the right spot/acreage at the right price in a growing area of town that doesn't already have mini storage or doesn't have enough.
Ag97 said:
I always thought about mini storage. I had to use one a couple years ago and it was all online/phone. Never had to speak or meet with anyone in person, just filled out the forms online. Had a phone conversation and I had to pay them every month for the next year or so till I could move all my stuff into my new shop. Seems pretty simple and the hardest part would be finding the right spot/acreage at the right price in a growing area of town that doesn't already have mini storage or doesn't have enough.
I know a guy that owns one of these. He's on the phone all the time and at weird hours.
Ag97 said:
I always thought about mini storage. I had to use one a couple years ago and it was all online/phone. Never had to speak or meet with anyone in person, just filled out the forms online. Had a phone conversation and I had to pay them every month for the next year or so till I could move all my stuff into my new shop. Seems pretty simple and the hardest part would be finding the right spot/acreage at the right price in a growing area of town that doesn't already have mini storage or doesn't have enough.
No, the hardest part is chasing down people who can't pay their bill every month. It's the biggest headache by far for this type of business. Hard pass.
Username checks out.
An rv storage lot has got be one of the easiest incomes.. and great margins too.
Man where I park mine, it's a big slice of unincorporated land within the town limits. 20 acres, there are ~600 slots there, at about $130/mo average.
It's a crushed asphalt lot, a fence perimeter, an automatic gate with keypads, and that's about it. There is a sign on the gate with a phone number and website for any potential new renters or current ones with issues I suppose.
$80k a month, and this guy has ZERO employees, very little operating costs, doesn't have to show up (there isn't even an office), and he bought the land 25ish years ago, so surely it's paid off. Most of the growth of this town is newer than that, so he probably paid a few grand an acre.. now worth more like $100k/ac if not more.. but who in their right mind would sell land for just a few million that's making $1mm a year?
You go to website at any given time, and there are maybe a dozen available slots.. this thing is perpetually full.
Guy hit the jackpot when he bought that land. I met him just one time, a dude in a land rover checking out the construction on the road at his entrance, so I figured it was him and said hi. He was about late 50s, maybe early 60s.. so I'm betting he hasn't worked a day since his 30s.
Man where I park mine, it's a big slice of unincorporated land within the town limits. 20 acres, there are ~600 slots there, at about $130/mo average.
It's a crushed asphalt lot, a fence perimeter, an automatic gate with keypads, and that's about it. There is a sign on the gate with a phone number and website for any potential new renters or current ones with issues I suppose.
$80k a month, and this guy has ZERO employees, very little operating costs, doesn't have to show up (there isn't even an office), and he bought the land 25ish years ago, so surely it's paid off. Most of the growth of this town is newer than that, so he probably paid a few grand an acre.. now worth more like $100k/ac if not more.. but who in their right mind would sell land for just a few million that's making $1mm a year?
You go to website at any given time, and there are maybe a dozen available slots.. this thing is perpetually full.
Guy hit the jackpot when he bought that land. I met him just one time, a dude in a land rover checking out the construction on the road at his entrance, so I figured it was him and said hi. He was about late 50s, maybe early 60s.. so I'm betting he hasn't worked a day since his 30s.
I Am A Critic said:Ag97 said:
I always thought about mini storage. I had to use one a couple years ago and it was all online/phone. Never had to speak or meet with anyone in person, just filled out the forms online. Had a phone conversation and I had to pay them every month for the next year or so till I could move all my stuff into my new shop. Seems pretty simple and the hardest part would be finding the right spot/acreage at the right price in a growing area of town that doesn't already have mini storage or doesn't have enough.
No, the hardest part is chasing down people who can't pay their bill every month. It's the biggest headache by far for this type of business. Hard pass.
See my post above.. this rv storage lot makes you sign up for auto payments when you sign up.. either ach or credit card.
Can't be that hard. And it's not like you're out some hard material or goods costs if some one misses a month.. just a missed opportunity cost of another potential renter.
I've thought about the mini storage/rv lot quite a bit over the last couple years since I had to use that one. My biggest concern would be liability. I know people sign waivers but surely these places get broken into on a regular basis? The only security is usually chain link fence with razor wire on top, a couple of video cameras and some night lights. I wonder what the headache factor is for dealing with theft/damage of the renters property?
Buy a four-plex and become a landlord. Not so much work that it takes 40 hours a week but it can keep you busy enough while providing an income stream. If you enjoy it then add more doors to your portfolio.
People think I'm an idiot or something, because all I do is cut lawns for a living.
Ag97 said:
I've thought about the mini storage/rv lot quite a bit over the last couple years since I had to use that one. My biggest concern would be liability. I know people sign waivers but surely these places get broken into on a regular basis? The only security is usually chain link fence with razor wire on top, a couple of video cameras and some night lights. I wonder what the headache factor is for dealing with theft/damage of the renters property?
I assume if you have the fence lights and cameras, and they are in all good shape and working, then your liability clause would hold up.
Now, if you have a huge gap or hole in your fence or an authority asks for surveillance footage and you can't provide it.. might have an issue on your hands.
Interestingly, we just got an indoor storage unit for some extra stuff we needed to get out of our basement while we finished it, and it required insurance. It gave you 1 free month through their partner, and after a month you can prove you have your own and cancel the provided one, or it begins to charge.
So
Buy into or build a mini-storage facility.
Ghost of Bisbee said:
Dairy Queen franchise
No idea if it's worth it
Just always thought this as a "that'd be cool" retirement gig
Narrator: It's not.
I don't think buying a franchise will be the kind of "retirement" you're looking for. If you want to work yourself to your literal death then do that. Another reason to never come to Texags for advice
bulverdeaggie93 said:
as i approach retirement (still 4-5 year away), i'll have all my retirement accts to live on… but id still like to be somewhat active and have some passive income.. the idea is i'll have about $100k-$150k to start or get involved with some passive income. Have glanced at some franchise things, thought about maybe some real estate.. not needing to make a lot of passive income with that $100+k, just something to keep me busy at my own pace maybe… thoughts from the Ags here?
No idea your asset level but last I checked the constantly growing dividends from the most profitable and cash heavy businesses that America has to offer are about as passive as it comes. You can create an income stream that grows at twice the level of inflation with virtually zero effort.
Find something else to keep you busy.
buy a business called ULTY for six figures
work a couple minutes a week checking the weekly payout
earn $30K-50K per hour
work a couple minutes a week checking the weekly payout
earn $30K-50K per hour
This! Ours is probably closer to $175 average per and about 300 spots onsite. The original owner was a lawyer and had 2 or 3 other locations. Sold to a couple of young dudes. Little to no maintenance and everything is automated. Had to produce proof of insurance for storage otherwise they forced you to purchase theirs. Everytime I go to our trailer, I think about buying land and doing the same thing.
I think it's important to differentiate between passive and residual. No matter the investment or project there is always work to be done. You're either doing it or paying to have it done.
I think in most cases "passive" isn't nearly as good as advertised.
I think in most cases "passive" isn't nearly as good as advertised.
I've been looking into this without having discussed with a "pro", not yet. To retire and live off dividends, interest, cap gains tax, rentals, etc.
Thoughts:
500k in Fidelity top index funds
500k in Schwab top index funds
500k in Treasuries (terms pending yield/risk)
500k in Munis (terms pending yield/risk)
4 rental properties (paid)
200k in BTC (possibly lend out between .5 - 1BTC)
I think that is a conservative monthly income is $16-$20k.
Please break this down for me, all criticism welcome.
Thoughts:
500k in Fidelity top index funds
500k in Schwab top index funds
500k in Treasuries (terms pending yield/risk)
500k in Munis (terms pending yield/risk)
4 rental properties (paid)
200k in BTC (possibly lend out between .5 - 1BTC)
I think that is a conservative monthly income is $16-$20k.
Please break this down for me, all criticism welcome.
How much percent wise do your properties generate for you?
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