Retirement

[seguidordejesus]

Originally Posted by Esaias

Actually I would advise him to look into buying a business. Real estate (even multifamily) generally doesn't produce near enough cash flow to BUILD wealth or a retirement nest egg. Real estate is more for a place to park your money once it's been made (generally inflation proof as rents adjust for inflation over time, as opposed to say a bank account which just loses money every year due to inflation). At least that has been my experience.

But as far as multifamily goes, the BEST two investments are RV parks and mobile home parks. I have watched people build an RV park in the middle of literally nowhere and as soon as it's open for business it fills up. OF course, the RV park business will collapse in about 30-40 years as all the older boomer generation (main RV owners) die off, but it could then be converted to a small mobile home park.

Mobile home parks are great because 1) it's affordable housing which is always in demand, and 2) they aren't making any more because practically every city has regulations preventing construction of new parks.

But really, a recession proof business seems the best way to go (ie a boring, stable business providing a product or service that lots of people need regardless of the economy): HVAC, laundromat, etc.

OR a business that caters to the wealthy, like private jet rentals, pool cleaning services, luxury car rentals, etc. Because the super-haves are ALWAYS around regardless of what the economy is doing.

I own a small campground and some multifamily. Just got my real estate license so I can be in the first position to get more Gotta fund my wife's retirement!

Keeping my eyes open for laundromats and car washes. Some in my area are for sale but I'm waiting for the price to go down - they want big money!

[diakonos]

Originally Posted by seguidordejesus

I own a small campground and some multifamily. Just got my real estate license so I can be in the first position to get more Gotta fund my wife's retirement!

Keeping my eyes open for laundromats and car washes. Some in my area are for sale but I'm waiting for the price to go down - they want big money!

I remember when you bought the campground. That was a good move. How’s the business? Steady?

I was let go from my job in March. I have considered getting my real estate license. Not sure how lucrative it is in my area. And, I mean, would you buy a house from a guy in an old beat up Honda?

More than likely, I’m going to land with the U. Ess. Dee. A.

[seguidordejesus]

Originally Posted by diakonos

I remember when you bought the campground. That was a good move. How’s the business? Steady?

I was let go from my job in March. I have considered getting my real estate license. Not sure how lucrative it is in my area. And, I mean, would you buy a house from a guy in an old beat up Honda?

More than likely, I’m going to land with the U. Ess. Dee. A.

I built it from the ground up, but yes, steady according to my predictions It's hot in Texas so it's slowing down for the summer as with all campgrounds and they'll show back up as it cools down.

Gotta start somewhere with real estate but fortunately I have an easy online job that pays the bills and doesn't take much time while I work into the real estate market in my area. I am transitioning out of that field so whenever they've had enough of me, I'll wash my hands of the whole mess

Good luck! It's no fun being jobless!

[Monterrey]

Diakanos, where will you be in 5 years?

[diakonos]

Originally Posted by Monterrey

Diakanos, where will you be in 5 years?

Jerk

[Esaias]

Originally Posted by CC1

You remind me of why I rarely post here anymore.

Hey, no thanks needed, just glad I could help!

[Monterrey]

Originally Posted by diakonos

Jerk

Bwahahahahahaha

[Evang.Benincasa]

Originally Posted by CC1

Of course you are going to criticize anything I post.

I thought that was my job?

But seriously, when you say things that can be agreed upon you have been given a thumbs up. It maybe that you rarely post things which are agreeable to the opposition?

Originally Posted by CC1

That is just you.

No

Originally Posted by CC1

The funny thing is you criticize me for pointing out that it is not an ideal time to invest in real estate with some idiotic accusation that I am just buying into media news.

Well, you could of turned it into a good discussion by bypassing your offense. Then proving why your assessment isn't based on media talking points.

Originally Posted by CC1

Uh....interest rates are what they are and the real estate market is what it is and analyzing that situation has nothing to do with any mass media.

Like I said, you could of prove your thoughts instead of getting offended.

Originally Posted by CC1

But then of course apparently only you have wise advice to post

Actually this makes you look like Esaias was correct with his assessment of you. Instead of coming back at him with a well thought out argument, you toss an insult.

Originally Posted by CC1

and advice that comes from your vastly superior knowledge. At least in your own mind.

CC1, how long have we been posting together? Since FCF?

Originally Posted by CC1

You remind me of why I rarely post here anymore.

Are you looking for an echo chamber? Years ago this place was a shark tank filled with every flavor of liberal and Apostolic Holiness hater. Yet, I remember back then you were cool with posting disparaging comments on "old time Pentecost." Or should I say, being disagreeable? Why? Because you had enough posters who were like minded as you were. Who were more than ready to dog pile on any "ultra con" or Holiness Pentecostal. No cries of you not wanting to come back and post. Bro, this place only has less than a handful of posters, and you shockingly can't hold your own? Since FCF, arguments abounded. When the Brother Jim Yohe passed away, then his sister tried her hand at it. I didn't hear any moaning from you.

Bro, you aren't hurting anyone's feelings when you repeat how we are the reason you rarely post here anymore. We aren't the sensitive ones. Don't get offended, post what you believe to be true. If you want to insult fire away, it's cool, but be ready to take every bit you dish out. If you are looking for100% agreement, then don't post. Nothing has changed only the amount of people in either amen corner. But, may I ask you a question? What are you looking for in a forum?

[Evang.Benincasa]

Originally Posted by diakonos

Do you have a 401k? IRA?

Or are you going to trust the Lord and social security?

My grandmother turned 90 this year. I will turn 41 shortly. Knowing her circumstances , I’m looking at my own. I have nothing.

I looked at my ss profile and if I continue at this rate my ss payout will be really low. I wouldn’t be able to live on that NOW. The cost of living is projected to double in 24 years.

Welding school? Carpentry? Mechanic? Arborist? Sell gym equipment?

Seriously, what do you love to do?

[diakonos]

Originally Posted by Evang.Benincasa

Welding school? Carpentry? Mechanic? Arborist? Sell gym equipment?

Seriously, what do you love to do?

Monterrey called me yesterday. We’re discussing a salary for me to be his assistant pastor.