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Updated about 6 years ago,

User Stats

869
Posts
920
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George W.
  • Investor
  • New Jersey
920
Votes |
869
Posts

would you start a business or invest in RE?

George W.
  • Investor
  • New Jersey
Posted

So I'm a journeyman plumber about to take the master plumbers exam. Ive been wanting to invest in RE more but have been having a difficult time finding anything I can afford in my state. I was considering buying outta state because I have money saved up. My accountant told me to not buy any properties for now and to start a business to make more $ a year then buy. The problem is I already work alot and it would be tough for me to manage a business especially if it isn't fairly passive. Would like to make another 2k a month before I invest. That way I have a good saftey net and can live comfortably while investing. I was considering starting a home improvement/handyman co because I have tons of experience in the industry but without hiring someone to work for me it's alot of extra exhausting work. I had a few ideas for companies that I could easily do part time.

-plumbing & home improvement
-cabinet & vanity building
-buying and selling used cars
-renting out construction equipment I own
-my father wants to do photography on the side but doesn't want to start a business. So maybe start and run the business end? Stock photos?
-junk removal/scrap metal
-material re-furburishing
-taxi co? Could be very passive if I found a driver.

Anyone else doing things like this on the side? Any advice? Or should I just try and stick to RE and house hack?

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