Two Plus Two Publishing LLC Two Plus Two Publishing LLC
 

Go Back   Two Plus Two Poker Forums > Other Topics > Business, Finance, and Investing

Notices

Business, Finance, and Investing Making money, investing in markets, and running businesses

Reply
 
Thread Tools Display Modes
Old 01-03-2009, 04:21 PM   #1
adept
 
Join Date: Dec 2008
Location: Florida
Posts: 775
Best Business for an Absentee owner?

Any ideas / suggestions regarding buying or starting a business that eventually & realistically can be owned & operated as an absentee owner?

I've been self-employed all my life, currently own a jewelry kiosk in a large mall, & have some rental residential real estate. The jewelry kiosk is a fair amount of work, the rental properties less so, but they don't throw off a lot of money yet. Would love to find a business to start or buy that would reliably net $100G/year for an absentee owner.

Best ideas at the moment:

1) Self Storage facility: could be run by a manager, no?

2) Develop or buy a mobile home park where people pay you a monthly fee to place their mobile home on your concrete slab. I play poker w/ a uber rich guy, he says it's the best business--he owns the land, a bunch of concrete slabs, and some water pipes. Pays a lawn company to maintain the place, longterm renters, very little management. Again, he doesn't own the mobile homes, just the concrete slabs they sit on.

Anyone have any good ideas or suggestions?
Pride of Cucamonga is offline   Reply With Quote
Old 01-03-2009, 04:25 PM   #2
veteran
 
campfirewest's Avatar
 
Join Date: Sep 2006
Posts: 2,353
Re: Best Business for an Absentee owner?

I think you're looking for some sort of internet based business.

As for the trailer park do you really expect trailer park people to all just pay their rent every month on time on their own?
campfirewest is offline   Reply With Quote
Old 01-03-2009, 04:42 PM   #3
banned
 
Watchmaker's Avatar
 
Join Date: Feb 2008
Location: Chicago, IL
Posts: 1,856
Re: Best Business for an Absentee owner?

Mobile Home parks are one of the best ways to develop cash flow from a flat piece of ground that's being held for the long term.

They're cheap to develop (roads, water and electric hookups), the tenants own their own "homes" thus you don't have to improve or maintain anything and once the land value finally came around, you could evict everyone and sell it as one big hit.

The only problem you might face is zoning; zoning laws in the past 20 years have shifted viciously against mobile homes, so depending on where you live, developing a new park might be a PITA.

Worst business for an absentee owner: Hotel. IM me if you want first hand tales in that regard.
Watchmaker is offline   Reply With Quote
Old 01-03-2009, 06:03 PM   #4
Carpal \'Tunnel
 
Join Date: Sep 2002
Location: Gold Bugs, One microbe at a Time
Posts: 8,939
Re: Best Business for an Absentee owner?

Laundromats, putt putt golf courses, go cart tracks, golf driving ranges, used bookstores and car washes. Any of these requires a manager that won't steal more from you than you can afford.
Jimbo is offline   Reply With Quote
Old 01-03-2009, 06:22 PM   #5
centurion
 
Str8 Dynamite's Avatar
 
Join Date: Nov 2008
Posts: 177
Re: Best Business for an Absentee owner?

If only I had the money to build some storage units I would do it. Pizza by the slice is a goldmine in a crowded, touristy location. You would of course need a trustworthy manager to run it (very hard to find if not impossible). A small liquor store is a great money maker in the right location with someone to run it for you.
Str8 Dynamite is offline   Reply With Quote
Old 01-03-2009, 09:41 PM   #6
adept
 
Join Date: Dec 2008
Location: Florida
Posts: 775
Re: Best Business for an Absentee owner?

Quote:
Originally Posted by campfirewest View Post
I think you're looking for some sort of internet based business.

As for the trailer park do you really expect trailer park people to all just pay their rent every month on time on their own?
I agree that an internet business might be a good choice. Being "technologically challenged" however, puts me at somewhat of a disadvantage there.

As for trailer parks, you're not taking into consideration two important factors:
1) The trailer park my poker-friend owns is in south Florida & is filled with snow birds and retirees, a fairly reliable & easy to deal with crowd, no doubt not the demographic you assumed.
2) The important point to remember is that in this type of trailer park, you own the land, but the renters own their own mobile home. No one wants to go through the expense of having to move the entire thing, so if a tenant can't/won't pay, you simple evict them, and there's nothing for them to damage if they get p***ed off, unlike if they were renting a house or apt. from you
Pride of Cucamonga is offline   Reply With Quote
Old 01-03-2009, 11:19 PM   #7
Real Estate Mogul
 
Join Date: Jun 2005
Location: who dares wins
Posts: 1,611
Re: Best Business for an Absentee owner?

I own two mobile home parks, as well as some apartment buildings and other real estate. By far the best investments that I've found in real estate are mobile home parks. I've made a killing on them.

In terms of development, it is more than likely impossible to get the zoning to build a mobile home park. Even if you can cities will generally create so many hoops to jump through that development won't work as an investment. This is part of what makes the MHP a great investment. If you have MHP zoning, you are essentially guaranteed that there will be limited competition.

But there isn't any reason why you couldn't own other types of real estate and do well absentee. IMO for absentee ownership real estate is probably the best way to go.
spex x is offline   Reply With Quote
Old 01-05-2009, 12:18 AM   #8
adept
 
Join Date: Dec 2008
Location: Florida
Posts: 775
Re: Best Business for an Absentee owner?

Watchmaker:

A hotel?!? You gotta' be kidding me! LOL Yea, I can imagine that would not be a hassle-free business! I'd like to own & operate a hotel about as much as I'd like to open a restaurant!
Pride of Cucamonga is offline   Reply With Quote
Old 01-05-2009, 01:22 AM   #9
centurion
 
Str8 Dynamite's Avatar
 
Join Date: Nov 2008
Posts: 177
Re: Best Business for an Absentee owner?

Quote:
Originally Posted by Jimbo View Post
Laundromats, putt putt golf courses, go cart tracks, golf driving ranges, used bookstores and car washes. Any of these requires a manager that won't steal more from you than you can afford.

Used bookstores, putt putts and go cart tracks all sound fairly risky to me, but what do I know.
Str8 Dynamite is offline   Reply With Quote
Old 01-05-2009, 11:21 AM   #10
Carpal \'Tunnel
 
Join Date: Sep 2002
Location: Gold Bugs, One microbe at a Time
Posts: 8,939
Re: Best Business for an Absentee owner?

Quote:
Originally Posted by Str8 Dynamite View Post
Used bookstores, putt putts and go cart tracks all sound fairly risky to me, but what do I know.
The question was what are good for absentee ownership, not whether or not the business model would be sound in this economic environment. Also I did mention that you need a manager that will steal only marginally and not so much to put you out of business.
Jimbo is offline   Reply With Quote

Reply
      

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -4. The time now is 04:11 AM.


Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 ©2011, Crawlability, Inc.
Copyright 2008-2010, Two Plus Two Interactive