Opinions, please

[SpaceMountain]

Hey fellas:

I'm wondering if any of you guys are in the same situation as me:

1. Approaching 40 yrs. old & single.

2. Have amassed close to 1 million in mutual fund investments. (stock funds that are balanced.........large, mid, small & int'l)

3. Looking to change career path. Would like to explore options of purchasing or investing in an EXISTING business. Problem is, don't know what kind of business to pursure?????????

4. Am a little nervous to take a chance by liquidating my assets.


Any thoughts guys?

 

[ComputerGuru]

Look to investing in the mini storage business. I work for a private owner who owns a few. Making cash hand over fist.

 

[HE]

Don't Do it!!!

Do not get married!!!!!

 

[8ate]

..

..get married; have some children; spend a lotta time with them and the wife..!!

best damn return on investment you'll ever get..>>

When you're on your deathbed; you won't be thinking about investment options you had when you were 40, but why you didn't spend more time with the ones you love..!!

just the facts..!!

gl

:howdy:

 

[whalewager]

chicken wings

 

[CookieNBabe]

I would only go into business at age 40, cold, if I was 99.9% sure I would love it beyond any job that put the $1,000,000 in the bank that you now have.

Having said that, I am retired, but looking seriously at a Pizza parlor on 1.5 acres of highway land, with a house in back of it, for $1.5M. It grosses $629,000 a year (avg for last 9 years reported to the IRS, so that number is reliable), and nets $170k, with 9 employees running it. If I decide to work hard a year or two, the net could be improved to around 240k.

In ways, it is tempting....But do you need the headaches, and that big a gamble? That is the big decision.

 

[ComputerGuru]

I would only go into business at age 40, cold, if I was 99.9% sure I would love it beyond any job that put the $1,000,000 in the bank that you now have.

Having said that, I am retired, but looking seriously at a Pizza parlor on 1.5 acres of highway land, with a house in back of it, for $1.5M. It grosses $629,000 a year (avg for last 9 years reported to the IRS, so that number is reliable), and nets $170k, with 9 employees running it. If I decide to work hard a year or two, the net could be improved to around 240k.

In ways, it is tempting....But do you need the headaches, and that big a gamble? That is the big decision.

If you go through with this transaction, I would break it into 3 separate transactions and 3 separate LLCs.

LLC1 = Land that business is on
LLC2 = Building that business is in
LLC3 or just your name like a normal house purchase = House and Land that would be included with the house

The reason I would do it this way is to protect you. If the business goes bankrupt or gets sued for everything and loses, the land, which being on the highway could be worth a lot in the future, and the house would be untouchable.

You would lease the land to the actual building LLC. If you ever decided to sell the business, you could keep the land and continue leasing it to the new owner. That would be a continuous flow of cash with little or no effort involved on your part.

Good Luck.

 

[CookieNBabe]

Thanks CG. I was thinking one LLC, but like your idea, and will talk it over.

 

[gfrommiami]

buy a commerical bulding and lease it out thats good cash flow

 

[guychance]

Why would you mess with a good thing?

$1,000,000 gives you annual return of 10% or more mutual funds ...

So..you can make possibility 100K every year on average with 15% longterm capital gain...if you withdraw...

If you don't need the money...You will more than likely have $2 million in 6 to 8 years or $4 million in 12 years or so...The mutual funds just have to be a bit more agressive.

Still a lot safer than any other investments...

But I do agree with the board on marriage. Don't do it or else your hard earn returns will be gone...