All Forum Posts by: Chris Lynch

@Bill Gulley 

With that said is fix and flip ok? Buy and hold?

I am looking to dive into Real estate full time. My question will I have any conflicting problems wholesaling property as a Licensed agent?

I am looking to start a service business part time while I work full time so I can save more and in result invest more in real estate/ other assets. My work schedule is Monday- Friday 9-530. So only certain types of start-ups will work. Landscaping seems to be out and so does a bunch of others. 

The few I can think of include mobile window tinting/ auto detailing or a commercial cleaning business of some kind. I need to start a business and take control. If anyone has an idea of a service market that can be started night hours ( After 530) I would love to know about it. 

I was doing a little research and found that you can get houseboats at a fair price. Has anyone considered buying a houseboat. putting it in a nice slip and renting it out per-night as a vaca rental? 

Any feedback would be awesome.

I am looking to start a career as a Real estate agent which can lead to investing.  I am young so It is going to be hard to start. What is the best way to find a Team to join so I can learn the ropes? 

I am just getting out of banking. So I have experience that can be applied. However I am young. 

Any advice would be great.

@James Stevens 

I have read the whole rich dad series. Great book. 

@Joel Owens 

Thanks for the response, great info. 

I completely agree. I do not want to buy a job either. But It sounds like a great road to go down to start building cashflowing streams of income considering I do not have enough coming in now.

What type of business's work best for a semi absentee owners in your experience?

After some research I have found Hair salons, massage places, coffee places, laundry mats, dry cleaners ( High profit from what I heard ), coin laundry's, car washes, and newly maybe subway's.

My plan was to buy an existing established business based on revenue. When buying an existing business do you feel it is better to buy a used franchise or a traditional established business?

With a fairly low income (43k) I have been searching for investments that will increase my income so I can then snowball the larger amount of income into more investment's ultimately creating long term wealth. 

After some research in Real estate I noticed my area is not a huge application area. With that said I know I there are tons of deals that will cash flow nice. I like Real estate because it is a tangible asset that keeps paying and provides you with tax benefits. 

I have also been browsing on Bizbuysell.com and I have seen some local franchises for sale that seem to provide great cashflow/Net profit. For example there is a semi absentee subway that makes 55k per year * Cashflow not gross* for 140k with financing.  Also a couple dry cleaning business's with great margin. 

My question is will it make more sense to use my investment capital to purchase something that cash flows like a business and then roll that into investment property's? Or am I missing something here all together?

@Zach Sikes 

 Thanks for the response Zack. So you are saying you make more as an agent then a broker? I would never guess this due to the broker taking a cut from every agent.

I have been looking into Real estate for some time now. I have not been an agent in the past but I have interest in starting and managing a Real estate company. I have experience in marketing. However I am still looking into the right path to take. I see many agents starting "teams". My question is why. Wouldn't it be much better to build an asset you own that you can resell like a company?

How much do good broker's make ( With agents under them) on average.