stevie_b Posted July 28, 2009 Share Posted July 28, 2009 Perhaps a background on what interests you would help... or is it simply a money maker regardless of if you enjoy it or not?? Good question. IMO it'd need to be something you like doing (not necessarily love, but at least like). Quote Link to comment Share on other sites More sharing options...
JustGav Posted July 28, 2009 Share Posted July 28, 2009 What about extending the building business into something still related, means you still have access to leads/contacts already established in your trade. Currently chatting to a building firm at the mo about some ideas I've had, but I'll chat to you in private about those. Quote Link to comment Share on other sites More sharing options...
SupraAyf Posted July 28, 2009 Share Posted July 28, 2009 Looking for some ideas? Small rental holiday cottages in the Dales/Northumberland/Cumbria/Scotland etc. You could buy them cheap, do them up and make a killing with your know-how Jamie! People won't be able to afford expensive hols abroad for a while yet so getting away to the country is going to be a very popular activity for a good while to come. Quote Link to comment Share on other sites More sharing options...
creative Posted July 28, 2009 Share Posted July 28, 2009 I've always wanted a bar/pub. and right now it would be one of the worse decisions you could make! The industry is fooked and after 15years of doing it im hanging up my pint pot. +1 on the buying property and refitting..... how about buying my house to get you started... importing cars/boats/random stuff...ala jurgen... how about opening a branch in Oz... Quote Link to comment Share on other sites More sharing options...
tbourner Posted July 28, 2009 Share Posted July 28, 2009 I'd definitely go with property. If you don't have the cash available then remortgage your house on interest only and use the equity as a deposit on a BTL mortgage (interest only again), then do it up and remortgage again before renting it out, you then get gained equity every 3-6 months to buy another mortgage, and you end up with plenty of houses. People in the building trade are perfect for this kind of deal. Quote Link to comment Share on other sites More sharing options...
brettjones Posted July 28, 2009 Share Posted July 28, 2009 I'd definitely go with property. If you don't have the cash available then remortgage your house on interest only and use the equity as a deposit on a BTL mortgage (interest only again), then do it up and remortgage again before renting it out, you then get gained equity every 3-6 months to buy another mortgage, and you end up with plenty of houses. People in the building trade are perfect for this kind of deal. tried that never again interest rates go up and so does the repayments nealy cost me the family home Quote Link to comment Share on other sites More sharing options...
Scott Posted July 28, 2009 Share Posted July 28, 2009 Not sure about the housing market down south but if you want to sort out your pension, and give yourself something to do, how about buy to let mortgages? Thats my plan for later in life anyway. You can make approx £200 per month profit per house. You need approx 20-30k to get a house. You can usually buy a port folio for around the 1/4 million mark and that way you aren't starting from the bottom. The thing is, that just makes money. It doesn't really give you something to do. However, if you start developing your own port folio using fixer uppers then the jobs a goodun Edit: Didn't read through all the previous posts so sorry to the above folks who already mentioned it . Quote Link to comment Share on other sites More sharing options...
Tom Posted July 28, 2009 Share Posted July 28, 2009 Those car activity days at northweald and other places seem to be quite popular, can you get hold of some land and do the same thing? would be fun too Quote Link to comment Share on other sites More sharing options...
brettjones Posted July 28, 2009 Share Posted July 28, 2009 drag strip in the south would be a good thing there is nothing down here i have tought of this a few times Quote Link to comment Share on other sites More sharing options...
The Raven Posted July 28, 2009 Share Posted July 28, 2009 I know but im not telling you lot Quote Link to comment Share on other sites More sharing options...
jamesmark Posted July 28, 2009 Share Posted July 28, 2009 Private Hire taxi firm. My Mates uncle owns one and he is very well off and that is in Leeds where the place is over run by Taxi firms, he has appx 40 drivers working for him plus a waiting list of drivers wanting to taxi for him. Apart from the initial outlaw of the equipment it nows runs itself. He only rents out the devises that give the drivers the work, so he does not have the headache of the up keep of the cars. He rents it out for £90 Mon-Fri & £60 if you only do weekends. The only part he effectively has to manage is the control room to make sure it is staffed. Quote Link to comment Share on other sites More sharing options...
JamieP Posted July 28, 2009 Author Share Posted July 28, 2009 Some good ideas, keep em coming:) New business wont have anything to do with property or building as i do most of that stuff now and want to try something else. It dont have to be something i enjoy doing as more than likely it wont be me doing the work, i will stay running the building firm. It just needs to earn money:) Quote Link to comment Share on other sites More sharing options...
pedrosixfour Posted July 28, 2009 Share Posted July 28, 2009 A driving school for those with suicidal tendencies! Quote Link to comment Share on other sites More sharing options...
Chris Wilson Posted July 28, 2009 Share Posted July 28, 2009 The wife's boss runs a medical supply company, and therefore LOVES wars and natural disasters, so he's definitely having a ball financially, these days. I once asked my accountant what business on his books made the most money, profits wise, and it was an abortion clinic. So don a white coat, buy a powerful vac, or sell gunshot wound stuff to the MOD and the Met and have fun Quote Link to comment Share on other sites More sharing options...
JamieP Posted July 28, 2009 Author Share Posted July 28, 2009 Sex sells and Stuart wants to open up a whore house but we would forever be arguing who does the quality control:d Quote Link to comment Share on other sites More sharing options...
Lbm Posted July 28, 2009 Share Posted July 28, 2009 Some good ideas, keep em coming:) New business wont have anything to do with property or building as i do most of that stuff now and want to try something else. It dont have to be something i enjoy doing as more than likely it wont be me doing the work, i will stay running the building firm. It just needs to earn money:) That's a tough one Jamie. If, as you say you don't need to be interested in it and you wouldn't be doing the work yourself I would find it hard as to where to start. I too would like to make money by doing very little and having zero passion for it Are you prepared to invest substantial money or are you looking at a low risk/low return thing? Quote Link to comment Share on other sites More sharing options...
JamieP Posted July 28, 2009 Author Share Posted July 28, 2009 The wife's boss runs a medical supply company, and therefore LOVES wars and natural disasters, so he's definitely having a ball financially, these days. I once asked my accountant what business on his books made the most money, profits wise, and it was an abortion clinic. So don a white coat, buy a powerful vac, or sell gunshot wound stuff to the MOD and the Met and have fun Quote Link to comment Share on other sites More sharing options...
JamieP Posted July 28, 2009 Author Share Posted July 28, 2009 That's a tough one Jamie. If, as you say you don't need to be interested in it and you wouldn't be doing the work yourself I would find it hard as to where to start. I too would like to make money by doing very little and having zero passion for it Are you prepared to invest substantial money or are you looking at a low risk/low return thing? I dont care what its doing, i dont want to invest massive money incase it goes tits up, its just about earning money, what im looking for is people saying my boss does XYZ and earns a bloody fortune, then ill do the same:d Quote Link to comment Share on other sites More sharing options...
supramkivcork Posted July 28, 2009 Share Posted July 28, 2009 Build another mental single supra rent it out similar to the aston martin, lamborghini, ferrari days. I'd bet a lot of people would pay for the experience ! I know I would Quote Link to comment Share on other sites More sharing options...
hogmaw Posted July 28, 2009 Share Posted July 28, 2009 Car parks are the best way to make money. Just a plot of land and you pay some gimp to stand around taking their money all day. How easy is that? Quote Link to comment Share on other sites More sharing options...
JamieP Posted July 28, 2009 Author Share Posted July 28, 2009 Build another mental single supra rent it out similar to the aston martin, lamborghini, ferrari days. I'd bet a lot of people would pay for the experience ! I know I would I dont think the money would be in something like that to justify the outlay. How much are you willing to pay to drive my car at a trackday? i take the car to the track of your choice, you drive it for say 4 20min sessions and i take it home after? Quote Link to comment Share on other sites More sharing options...
supramkivcork Posted July 28, 2009 Share Posted July 28, 2009 I'd pay the same as I would for any of the other exotic trackdays, maybe its a bit too specific to just Supra owners but maybe I'm just being greedy wanting to drive your car ! Quote Link to comment Share on other sites More sharing options...
JamieP Posted July 28, 2009 Author Share Posted July 28, 2009 Boat drystack is a good money maker i think, you need a big forklift and a yard on the river near to cost, the place i keep my boat charges me £3000 a year (bigger the boat the more they charge) and mine is a mid to small boat for what they have in the yard, they must have about a 100 boats there, on top of that they do a valet service and boat servicing/repairs, i reckon they make a fortune. Quote Link to comment Share on other sites More sharing options...
sprag5 Posted July 28, 2009 Share Posted July 28, 2009 Build a care home with your building knowledge, get a manager out of another care home to work for you (so they can sort out staff and what is exactly involved) and you make a fortune! My company own a few and an average one holds 80people. average cost per person to live there is £400 a week £400 x 80 people =£32000 £32000 x 52 weeks =£1,664,000 minus your costs! Quote Link to comment Share on other sites More sharing options...
JamieP Posted July 28, 2009 Author Share Posted July 28, 2009 Build a care home with your building knowledge, get a manager out of another care home to work for you (so they can sort out staff and what is exactly involved) and you make a fortune! My company own a few and an average one holds 80people. average cost per person to live there is £400 a week £400 x 80 people =£32000 £32000 x 52 weeks =£1,664,000 minus your costs! Now thats what im talking about, great input, might be out of my league but thats going on my list of things to look into. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.