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Old 02-21-2018, 06:55 AM
 
10,604 posts, read 14,205,380 times
Reputation: 17203

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BTW, OP.

One of the skills I'd recommend is to not lodge a personal attack on a person who took a long time to write up information for you, educating you on how to actually decide on a business, and how to START and operate a business successfully.

It would be more productive for you to just ignore advise that you think is not applicable to you.

If I had known at the time that your goal was to spend 2 days a week, getting up whenever you wanted and quitting whenever you felt like it, I wouldn't have bothered.

That's called a hobby, especially in the eyes of the IRS.
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Old 02-21-2018, 06:56 AM
 
1,253 posts, read 568,339 times
Reputation: 2310
Quote:
Originally Posted by runswithscissors View Post
Why the personal attack?

Two or three days a week? I can't even. Sorry.
Same to you. If you can't even.. don't post.

Frankly if I could get rid of my property management company and get paid the same amount.. I would. But the fools in my HOA seem to believe that they know something or provide some service but, they don't.

Everyone who has posted about this do not know what your talking about. I can't go down all the untrue claims but as for example my property management company ONLY attends 4 meetings a year. This was contracted in the fee. We do the minutes. We do the newsletter... we draft letters... 90% of the items are self service... via the PM website.

A property management company can contract anything that it likes if it complies with the law. There is nothing in my condo that would require 24 hour service. We don't even have anyone in arrears. We have no amenities.

If you live in Florida with a tight legal structure and many large condo communities with amenities well then maybe not but I live in a state with very little regulation and small condo communities absolutely.
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Old 02-21-2018, 07:03 AM
 
1,253 posts, read 568,339 times
Reputation: 2310
Quote:
Originally Posted by runswithscissors View Post
BTW, OP.
One of the skills I'd recommend is to not lodge a personal attack on a person who took a long time to write up information for you, educating you on how to actually decide on a business, and how to START and operate a business successfully.
Your doing the personal attacks. I am in no way obligated to do anything with regard to your postings.

Up do you if you want to post or not but I owe you nothing -- not even reading your post.
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Old 02-21-2018, 07:17 AM
 
Location: Charleston, SC
1,362 posts, read 767,627 times
Reputation: 2428
Wow. I see this thread has gone off the rails. Some good advice was given here. Perhaps the OP should read through it again.

Or perhaps, the US Attorney General's job will be opening up soon. After recusing from any important legal issues.....that should be a 2 or 3 day a week gig.

Good Luck !!
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Old 02-21-2018, 07:25 AM
 
1,594 posts, read 1,700,688 times
Reputation: 1688
Quote:
Originally Posted by runswithscissors View Post
Another personal attack?

Doesn't phase me. I actually DO own my OWN business, actually DO make my own hours, and live in the most beautiful tourist beach area on the east coast of Florida.

Nice try though.
Not an attack. You're way too worked up over literally nothing. Try some mindfulness.
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Old 02-21-2018, 10:29 AM
 
Location: Middle of the ocean
31,667 posts, read 19,975,978 times
Reputation: 45731
Quote:
Originally Posted by EmilyFoxSeaton View Post
Same to you. If you can't even.. don't post.

Frankly if I could get rid of my property management company and get paid the same amount.. I would. But the fools in my HOA seem to believe that they know something or provide some service but, they don't.

Everyone who has posted about this do not know what your talking about. I can't go down all the untrue claims but as for example my property management company ONLY attends 4 meetings a year. This was contracted in the fee. We do the minutes. We do the newsletter... we draft letters... 90% of the items are self service... via the PM website.

A property management company can contract anything that it likes if it complies with the law. There is nothing in my condo that would require 24 hour service. We don't even have anyone in arrears. We have no amenities.

If you live in Florida with a tight legal structure and many large condo communities with amenities well then maybe not but I live in a state with very little regulation and small condo communities absolutely.

Sorry, I was on the board for our tiny 131 home HOA, and you would have spent more time then you want on OUR property alone.

Who does all the accounting and all the other stuff? You list attend meetings like that's it.
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Old 02-21-2018, 12:29 PM
 
Location: Coastal Georgia
37,118 posts, read 45,641,400 times
Reputation: 61751
Quote:
Originally Posted by EmilyFoxSeaton View Post
I have always wanted to have my own business. When I retire I want to do that on a part time basis. I will have a pension and won't have to worry about money.

But I am kind of stumped at to what I want to do. I am a lawyer by trade but pretty much hate the law. I would like to get into some sort of real estate thing ... such as property management or flipping homes but I don't know if I have what it takes for that.

Any thoughts?
I know a property manager who became friends with the real estate agent who sold her her house. She is a military wife who has to be home with her children when her husband is gone. Anyway, she partnered up with the RE agent to handle the rental management end of the agentís business and it is the perfect balance for her. She doesnít manage a huge portfolio, but just a dozen properties or so.

Do you have friends in the real estate business? You could feel them out about what is involved. I bet your legal experience would be a valuable asset in that kind of business.
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Old 02-21-2018, 12:42 PM
 
1,253 posts, read 568,339 times
Reputation: 2310
Quote:
Originally Posted by gentlearts View Post
Do you have friends in the real estate business? You could feel them out about what is involved. I bet your legal experience would be a valuable asset in that kind of business.
Yes, but as I mentioned I need only to send in a form to be a real estate agent in my state. The law degree waives you in.

And prior to law school I worked in accounting. I suspect strongly I could handle quick books.

Quote:
Sorry, I was on the board for our tiny 131 home HOA
131 homes isn't tiny. My current condo is a fraction of that and my state has tons of small condo developments. 10 to 20 units. They have to be managed but there aren't a ton of good options. Most quality property managers want LARGE condos. But even there they don't do a lot of work and have more than one. If they do a good job they can have only a few good ones but if they do a crud job they can have much more.

Our property management company does the accounting but it isn't hard. It is literally a quick books type program. We have about 7 expenses every month and we even pay a CPA to do our taxes because the property management company's controller isn't a CPA.

We pay 900 a month for property management and frankly IMHO they do nothing. But our last property manager was worse.. we paid 1200 and they "claimed" they would do things but, did them in a poor way. Enough to satisfy the contract but not enough for anyone to be happy.
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Old 02-21-2018, 05:39 PM
 
Location: Cebu, Philippines
4,418 posts, read 1,676,659 times
Reputation: 8038
Quote:
Originally Posted by EmilyFoxSeaton View Post
But then I would be working for someone else.. which I want to avoid. I want to get up when I want and do the work when I want.



I don't see how, would still have the pension - 401K - and social security NO matter what.

I don't like volunteering as most opportunities IMHO are meaningless busy work. Though I hope to do some volunteering with animals. But I would want to see if I could run a business.
The reason (my opinion) that most small business startups fail is because the entrepreneur does not know how to run a business. If you don't already know if you could run a business, this is a very bad time to find out that you (like a great majority of people) can't. Especially as they get older and discover that their energy and enthusiasm wanes. You have nothing to fall back on, except your pension/SS, and if your failed startup generated debt, it will cut into your future income.

I am not trying to be a wet blanket, but I think it is very important to give serious consideration to the fact that your chances of being successful are very, very slim.

As for volunteering, you might consider teaching English to immigrants. Many communities nave an organization that will give you free basic TEFL training, and it is a very enjoyable way to spend your time doing something that really matters in people's lives.,
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Old 02-21-2018, 05:52 PM
 
1,831 posts, read 2,137,902 times
Reputation: 2602
Some activity in which you have some control over your time.
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