Updated over 11 years ago on . Most recent reply
I am at a fork in the woods- which path would you choose?
I am avid content consumer who is "on the sidelines". Listening to the most recent podcast with Brian Burke, one of the statements struck me about the time period you start- and the time you make that your main career. So a little about me- I am currently employeed in a day gig- climbing the ladder and well compensated. The down side is the gig is a 45-55 hour/week gig.
Like Brandon Turner has said in previous blogs- one of the side ways to make passive income is through buying- or in my case building a business. I have one break even business a homebrew/wine making shop which has led to my second business- a fairly successful brewery. The brewery is on track to be able to almost replace my "day-jobs" income within 2 to 3 years.
The crux of my issue is that time is the new commodity which seems to be shortest in demand. I have a goal of getting into real estate (buy and hold multi-family) to diversify income stream. Based on the successful brewery launch- I also have the opportunity to launch several more breweries with investors already lining up to back me if that is the path a choose. When a single business of this type could generate cash-flow= 30-40 units at $200 dollars a door- which would you do? Would you start down the path of real estate investing or would you spin up more businesses?
Looking for some opinions-
Cheers! Bill