I live in San Diego, own a home, have 2 older children and really want a change in my career. I need a business that can generate real cash flow and need some suggestions. Thanks.
2007-01-24 03:06:30 · 9 answers · asked by Mr. Fraser 1 in Business & Finance ➔ Investing
Well, you don't need that much to join mine, see my profile.
2007-01-24 03:10:23 · answer #1 · answered by Raye 3 · 0⤊ 2⤋
I'm an inventor with several designs but, like you, I'm stuck having to work a regular job (for the purpose of paying on the mortgage, & insurance). I'm married with twin boys (2 months), and have a house as well. Between working fulltime and being a father, I haven't had the time to write a business plan but, eventually intend to at some point. My goal is to eventually start my own business, so that I can develop my designs. One design that I'm focused on right now is for an electric motor that can be installed on it's own in a home, or office building, or in a car, so I don't have to pay for gas or electricity anymore. I live in Lincoln, Nebraska.
All I have time for lately is to research different sources of investment capital. I've also considered cashing out my 401K to use as start-up capital.
Hope I can help, thanks.
2007-01-24 03:29:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You might have to get out of the " heart" of San Diego, but look into real estate...a multi-unit building... You make a respectable down payment....do the bookwork...tenants pay the mortgage, taxes, insurance, repairs......then it's up to you to squeeze a profit out of what's left. If you didn't use the whole 150K for the downstroke...invest the rest..... Even look into monthly dividend investments: REIT's, Energy Trusts, MLP's
Your "new job" is to check on the building and get back home and check on the funds.
2007-01-24 04:46:24 · answer #3 · answered by jebediabartlett 6 · 0⤊ 0⤋
short answer : don't be stupid, you already comprehend the respond is not any. long answer : How do you propose justifying to the tax workplace paying somebody for doing no longer something, as you have reported on your own question. useful answer : Many self employed human beings can justify paying some funds to a stay-at-abode companion in comprehend of authentic artwork carried out which includes doing the invoicing & different bookwork, typing up expenditures and answering the telephone in comprehend of revenues queries etc. seek for suggestion from a qualified expert, such as you accountant in concerns which includes this. Edit word: to reply to De Deuces's question, the respond is termed "earnings splitting" and has the earnings of gaining one extra own allowance and the two (now fairly decrease) earning commencing on the backside tax band.
2016-09-27 22:27:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Keep working and build your nest egg to about 1/2 million before you venture out on your own. 150K wont cut it especially in San Diego
2007-01-24 03:40:22 · answer #5 · answered by Anonymous · 0⤊ 0⤋
i would keep working for awhile and invest your funds. you can try calling my financial planner at Moreland Capital Management. he will have some ideas for you. his number is 208-578-7931. best wishes,
hthwang
2007-01-24 04:55:21 · answer #6 · answered by Anonymous · 0⤊ 0⤋
When you find one let me know. It is not easy being selfemployeed. Lot of risk, lot of time and money investment.
2007-01-24 03:12:54 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Congratulations. What about being an insurance agent? http://www.nationwide.com/nw/careers/agency-opportunities/become-an-agent/index.htm?WT.svl=becoming_a_Nationwide
2007-01-24 03:11:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋
start a daycare. i get charged 135.00 a week for one kid you know someone is banking the bucks and it isnt me
2007-01-24 03:15:35 · answer #9 · answered by mrs. me 2 · 0⤊ 0⤋