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Old Today, 06:31 AM
 
113 posts, read 100,842 times
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Curious about the subj. I would like to retire from my corporate job at 45, worst case at 50. I should be on track to do so... but given my significant life expectancy (come from a long line of centenarians) I am figuring I'd like to buy a business at that time. Something that would not consume more than 2-3 days a week worth of attention at run-rate and would generate stable, non-cyclical cash flows for at least 15-20 years. I am interested in ideas - what kind of business is good for that? (i am thinking industrial laundromat) and experiences - did other people do that? What were the unexpected downsides?
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Old Today, 07:21 AM
 
Location: Rust'n in Tustin
2,466 posts, read 2,538,195 times
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Rental properties. Some other fool pays your mortgage.
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Old Today, 07:21 AM
 
6,625 posts, read 5,278,878 times
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Quote:
Originally Posted by urbandweller13 View Post
Curious about the subj. I would like to retire from my corporate job at 45, worst case at 50. I should be on track to do so... but given my significant life expectancy (come from a long line of centenarians) I am figuring I'd like to buy a business at that time. Something that would not consume more than 2-3 days a week worth of attention at run-rate and would generate stable, non-cyclical cash flows for at least 15-20 years. I am interested in ideas - what kind of business is good for that? (i am thinking industrial laundromat) and experiences - did other people do that? What were the unexpected downsides?
I was going to suggest laundromat
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Old Today, 07:31 AM
 
Location: Loudon, TN
6,107 posts, read 5,033,664 times
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I would think a storage yard would be really simple. Around here people pay a minimum of $100 per month to store a boat or travel trailer in a covered parking area. Multiply that by 50 or 60 spaces and absolutely no work, just make sure it's secure.
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Old Today, 07:43 AM
 
113 posts, read 100,842 times
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Originally Posted by TheShadow View Post
I would think a storage yard would be really simple. Around here people pay a minimum of $100 per month to store a boat or travel trailer in a covered parking area. Multiply that by 50 or 60 spaces and absolutely no work, just make sure it's secure.
Excellent idea. That or self-storage. Ty
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Old Today, 08:21 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
30,534 posts, read 55,544,190 times
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Better to not have to depend on employees, if at all possible. Owning and placing vending machines could work, just refill and collect the money. Not a big investment.
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Old Today, 08:52 AM
 
113 posts, read 100,842 times
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Originally Posted by Hemlock140 View Post
Better to not have to depend on employees, if at all possible. Owning and placing vending machines could work, just refill and collect the money. Not a big investment.
Another excellent idea. But... is this not historically a mob-controlled business? pardon my ignorance I am not super street smart.
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Old Today, 09:14 AM
 
565 posts, read 341,159 times
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Quote:
Originally Posted by urbandweller13 View Post
Another excellent idea. But... is this not historically a mob-controlled business? pardon my ignorance I am not super street smart.
That's more ikely on the East Coast. Don't know where the OP is located. The bigger problem is all the other machine owners fighting over turf. That might be tantamount to some sort of gang warfare

Also, unless you buy up an existing route you are the one who has to hustle up the business and get the locations for your machines. Or maybe hire a sales person but now we're getting complicated again.

The laundromat or self-storage place sounds ideal. Again , location is king and your area might have sufficient saturation, but as a business, it's simple with few moving parts
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Old Today, 09:26 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
23,080 posts, read 40,618,467 times
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NNN commercial property, leased to a national tenant. ~10-12% net.

93 yo friend owns a tire shop property 2700 miles away. In 14 yrs he has never been there, never plans to go. Gets $8k / month rent, 3 months in advance. 7 yr leases renewed / optioned for 20yrs.
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Old Today, 09:35 AM
 
6,625 posts, read 5,278,878 times
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Quote:
Originally Posted by fallstaff View Post
That's more ikely on the East Coast. Don't know where the OP is located. The bigger problem is all the other machine owners fighting over turf. That might be tantamount to some sort of gang warfare

Also, unless you buy up an existing route you are the one who has to hustle up the business and get the locations for your machines. Or maybe hire a sales person but now we're getting complicated again.

The laundromat or self-storage place sounds ideal. Again , location is king and your area might have sufficient saturation, but as a business, it's simple with few moving parts
i know of a family that owns three full service laundramats. Seem to be doing well

They do a big business in wash and fold by the pound. They have an attendent there all day of course. Do have a lot of oil field workers that drop off their items.
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