Thinking about taking the plunge with ~$175k

[Bobby Stainless]

Buy more rental property.

Do not get into the pot biz, while warehouses and dispensaries are being clipped off left and right. The pot biz is still in beta testing, IMO.

No one is going to come and tear down your duplex or condo. Like 5-10 new properties putting down about 10k on each. Then charge 200 over your mortgage in rent. That's 2k a month, on top of the equity that is being built.

To me the safe bet is the smart one.

You could also start a lucrative auto sales business. Get a dealers license, and buy perfectly good 8-15k cars. Rent a garage, hire a couple mechanics, and a detailer. Shoot for 500-1k profit on each sale. Just selling 5 cars a month could gross you 5k. I know guys who sell 5 in a day.

 

[CalcioErba2004]

What rez said...You are not going to do it. There are people that have been established in this industry and the price of a lb is dropping faster than weight off a crackhead. Dude if you are making 100k+ a year why would you want to change that and jump into a grey area industry where you can lose everything...

 

[Greenwich Pope]

Buy more rental property.

Do not get into the pot biz, while warehouses and dispensaries are being clipped off left and right. The pot biz is still in beta testing, IMO.

No one is going to come and tear down your duplex or condo. Like 5-10 new properties putting down about 10k on each. Then charge 200 over your mortgage in rent. That's 2k a month, on top of the equity that is being built.

To me the safe bet is the smart one.

You could also start a lucrative auto sales business. Get a dealers license, and buy perfectly good 8-15k cars. Rent a garage, hire a couple mechanics, and a detailer. Shoot for 500-1k profit on each sale. Just selling 5 cars a month could gross you 5k. I know guys who sell 5 in a day.

This.

Or if you're adamant about becoming a compassionate CG, why not limit your initial exposure and grow into your dream as climate allows?
No sense in being foolhardy with your hard earned.Kudos on the plan all the same.

 

[Abja Roots]

175K would not be enough to buy a building and build a business. Even if you could I wouldn't buy the building. The feds would love to take it from you.

If you can find a good spot to rent or some open acres with water up in Nor-Cal, I suppose you could start something. The legal landscape is changing all over the country. Still it's completely federally illegal. With as much as you have to lose and a solid income right now. I think it would be an unwise decision.

If anything keep on enjoying your personal grow.

One day when you can move somewhere more tolerant, you'll be able to put a huge greenhouse in your backyard. A great way to live out your retirement.

Throwing down on some outdoor land in Nor-Cal would still work, but then you're going to have to deal with all kinds of issues. From the growing, processing, and selling. I imagine it will not be as rewarding(personally) as you think.

If you have the kind of job where you can take a few months off a year. Maybe you can buy a spot in South or Central America where you can hire a caretaker to tend to the farm and house while you're away. Some friend have a place in Costa Rica where they go for 4-5 months a year. Not very large, but a nice farm. Fresh Coffee and great quality of life.

If it's about money. Sounds like you're doing fine. I'd stick to it.

 

[TruthOrLie]

you can still double up on silver and gold in the next 2 years

if you like gambling with your hard earned income... just so you can "give" it away to charity?

not trying to hate, but if you are so generous, why not set up a food kitchen or farm to teach people how to grow food crops?

I can't stand folks that think by helping some dying desperate "sick" person they are doing the bees knees... but we got starving kids with nobody to feed them. They'd be perfectly healthy if they got some food.

Don't they come before the sick and dying?

...I'm just saying, if you're trying to do something to help people vs. make some loot

 

[silverhazefiend]

Not to sound like a hater but u should have kept the $$ out of.it ..people will take it as ur being an ass ..some people dont understand ...

Imo ..I dont have 175k ..but its not that much in nyc ..not even 1/3 of a house here ..

I wouldn't take the gamble ..if ur making a steady living ..wait tilll u retire or have more time to venture out ..that way if something happens u won't be kicking urself for ruining your own life ...if ur that passionate and making money isn't the goal ..then buy a 50 acre ranch and go crazy ..open a hydro shop or something with REAL prices ..if u wanna help the people ..but trying to make 350 a yr off bud is gonna upset people u dont want 2

 

[TruthOrLie]

I wonder if Eddy Lepp got busted by the feds...

or if local distributors and brokers saw a big profit margin loss from "patients growing their own" and made some phone calls.

you're stepping on toes.

 

[Yes4Prop215]

yea why not open a hydro shop instead? just like the 49er gold rush...the ones that got rich where the ones selling shovels and picks not digging for gold.....growshop down my street does TONS of business...

either invest in a legit business or buy more rental properties and rent them out, stack capitol and stack properties.

 

[TruthOrLie]

yea why not open a hydro shop instead? just like the 49er gold rush...the ones that got rich where the ones selling shovels and picks not digging for gold.....growshop down my street does TONS of business...

either invest in a legit business or buy more rental properties and rent them out, stack capitol and stack properties.

the ones that really got rich sold TNT

 

[Bobby Stainless]

Here ya go!

175k should cover this!

onlyliveonce

/thread

 

[forty]

We actually own our house out-right, and we have 2 rental properties. Our investment portfolio is pretty good right now, we are fairly safe investors, but I just really wanted to do something I was passionate about. We both like our jobs, and we make a very very very good living, but you can only deny passion for so long, lol.

get very familiar with asset forfeiture and weigh that against your urge to pursue your passion... sounds like growing great erb as a hobby and sharing amongst friends is a safer bet.

 

[Yes4Prop215]

you could also buy some outdoor land in humbolt, and i'l lease it from you and tend the herd for you. then you get paid a over-market rent payment plus perks and you get to keep your 100k job and live somewhere else, far away from risk of bust.

works same with a warehouse or SFH...you are just the landlord who "unknowingly" rents to someone who happened to grow. as long as the cops dont trace our phones and catch us talking about "hey man next crops ready il pay you soon" they wont be able to take your house..

 

[habeeb]

I should mention that it's really not worth it for us to quit our jobs here and move unless we can net at least $350k per year.

anything done with any mindset of money first.. only turns out bad

it's funny, because later you use the word passion.. you really have not the slightest clue what true passion is..


what you are is a business man.. not an artist

 

[Hash Zeppelin]

yea why not open a hydro shop instead? just like the 49er gold rush...the ones that got rich where the ones selling shovels and picks not digging for gold.....growshop down my street does TONS of business...

either invest in a legit business or buy more rental properties and rent them out, stack capitol and stack properties.

I like the hydro shop idea.

 

[Yes4Prop215]

^yea alot of hydro shops are slacking....we need a hydro shop with more sq ft of space....better parking and loading too. my local spot has trucks backed out into the street sometimes its hard as hell, plus their parking is street parking on street so not too discreet. then i gotta drive across town to a decent store but its cramped in there and they dont stock everything they should be....

i wanna see a hydro shop built on the OSH model but without the crappy 4 dollar dafodils and miraclegrow for old ladies planting flowers....

construction + hydro gardening, have standard building supplies too like PVC piping, manifolds, etc...im so tired of having to go to the hydro shop and home depot...one stop shop for all!

 

[303hydro]

I can't count the guys I know on both hands who moved out here to CO with 6 figures in the bank and now they have 0. And they all work 7 days a week. If you want to make money you should go somewhere it is just starting and try to be one of the first. Even then you may lose all your money, here in Colorado they have sucked even the wealthiest business owners dry with all the bullshit. With that kind of money, I would say however there are other aspects of the industry out here you could get into and still profit from just not growing. Colorado is nice, but it is def saturated if your selling the ganj.

 

[medicalgreen]

It looks like you'll need a financial adviser, a manager, a consultant and a supervisor. I do it all for $15,000. I tell you where you can set up, what you need, what you need to stock, how to purchase meds, how to deal with unruly patients, how to stay alive, stay afloat and survive in general. Paypal to [email protected]

If you don't like it, I can also tell you where to go with that, as well. But it costs extra. lol

 

[medicalgreen]

anything done with any mindset of money first.. only turns out bad

it's funny, because later you use the word passion.. you really have not the slightest clue what true passion is..


what you are is a business man.. not an artist

That's not necessarily true. It's also very rude to tell someone they are not an artist. We are all artists. Sometimes we are artists who are in the process of business, and sometimes we are in the business of art. Every artist is a businessman, and every business man is an artist. You may not like their art, but that does not mean it's not art.

 

[Tela]

Plan A:Id roll with stocks @ this point if you like your job and dont want to move.

Plan B: I'd start a hydrostore somewhere in the northeast or southeast if you sorta want to be in the biz but dont want to risk a potential legal fiasco. Then open another.

Plan C: Move to Michigan if you are looking for the fastest growing, easiest, lowest cost entry point for mmj entrepreneurs. Potential legal fiasco. Must not like your current job.

Plan D: Purchase a warehouse in Cali. Rent it for above market rates to a mmj nonprofit company. Live anywhere. Visit anytime.

Plan E: Colorado was looking better in 2008.

 

[Anti]

Wish I had this problem.

My shitty job (which I fucking HATE) pays significantly less than $175k a year. It pays fractionally less, actually.

Mo money, mo problems? Fuck that. Anyone who believes that story can give that extra money to me. Being poor trumps having tax hassles.