Have 100k, buy a condo in cash or buy a small business already profitable?

My vote is a Business ALL THE WAY!

Bro, my business that I own is actually a forum ( [link to www.LoanSafe.org] this that helps Americans who are losing their condos and homes. They have been and will continue to get slaughtered.

With a business, if you do it right, you can have income for life and with a condo, ummmm.... not so much dude.

What is cool is I started the forum with $10 in 2007 and now it makes multiple 6 figures a year and all this during the Greatest Depressions ever.

Last Edited by Gnostic Warrior on 08/03/2011 06:21 AM

Had that choice...went with the house in cash. That was four years ago. House has lost about 8k in value, but its still my home and will be forever, so I think it was a good choice. At least I don't have to sweat out things like the economy and market. But I have an income and don't need to worry about a job, so if the business is going to be your job - it would be nice to be your own boss, wouldn't it? I think it would be fun! :)

Well, if you consider working from home, eating EVERY meal with my wife and children as I watch every single day and baby step they make as I get to surf whenever I want and I do not have to answer to any other Ceasar than the true Ceasar and post on GLP all day, then yeah, it is A HELLUVA A LOT OF FUN

PS

You are VERY luck to only lose $8k in value because many of the homeowners I know who bought in the last few years have lost $50-100k plus

Last Edited by Gnostic Warrior on 08/03/2011 06:27 AM

Neither. Sign up to GLP for a thousand years. Think of all the extra emoticons you could post!

DO BOTH... but BE VERY CARFUL.... most businesses are doing very bad. Make sure that business is still a going concer as many business are selling because they see the lack of business.

It would be better to take the $50K and start your own business.

Don't depend on just the FINANCIAL STATEMENTS as this years is worse than last.

Take a week and just volunteer to WATCH and LEARN is there really business befoe you buy.

And what about expenses.

IF you want put $50K down on a condo and $50K down on business... belive me... you can make a DEAL with any cash today.

But of the two, buing ANY BUSINESS TODAY is risky.

Shit, your rich. Just not in America. Move to Ecuador and rent a house with some acreage. Plant crops. Consider yourself lucky you escaped the famine & other problems that are sure to be happening here for the next 10+ years.

True and people sale businesses for a reason and unless they are retiring with no heirs to their biz, then that should be a flashing red light for concern.

I am a HUGE advocate for starting a new business based on our new economy because the old one is gone. Hence, it will take creative people to rebuild the US and these entrepreneurs will be the humans who have the best lives in the new age.

I think you should pay some money to your parents for letting you live in there house

I think AW.com brings up some good points. Think of (or look for) a business that is recession proof. You know, will be needed and/or used during a down-period.

A forum is not such a bad choice, for many will have more time on their hands. Yet, running a forum is not for everyone and takes a lot of work and at a certain level, technical knowledge.

My thing is, what can I (create)sell for $1/1£/€1, of which one billion people will want, with a 50% margin?

Figure that out and you can buy a full-on house and a condo.


But, it comes down to what you want. You must have a decent job, so maybe the condo and working the same job is for ok for you?

Buy Junk Silver, Pre-1964 quarters or dimes, and wait until next year to decide. Sit on it for a year, but buy them NOW!

I don't know why people want to buy glorified apartments personally. Buy a house, or rent and buy gold bullion. Why a condo? People actually think 'owning' it that good of investment? Well it's not. Everyone get their cut.. the realtor, the bank, both on the buy and sell side, then there's maintenance costs and association fees. A money pit, homes and condos especially.

You don't want your money going to a landlord? Fine, give it to the realtor or just piss it away on maintenance, utilities, and property taxes, and depreciation, which is what most condos will go through the next few years.

I suppose there are exceptions, some condos have no doubt become extremely cheap relative to houses since the crash.

why can't I reply to my own thread?

Hmm, must be because I had to paste in the answer due to tech issues?

Hey AW!

Good points! I actually made much of my money from SEO Marketing working from home but I am looking to diversify and get away from being at Google's mercy, esp after the Panda update. So was thinking about a brick and mortar biz like a laundromat, grocery store or apt building. I do kinda miss going to work, lol. But I don't want to work for someone only to get laid off in a few years so don't want to be the mercy of some corp.

(k...going to try to reply again...testing)

That's true w/a biz, I will have something that will buy my condo. Congrats on your success w/the forums! I may try something solid like that or buy an ecommerce biz and advertise with Adwords or find something on flippa.

I pay rent (low rent but I do help out). And give them bonus money if I need them to run an errand for me.

Buy a house as business in this day and age is very risky atm...when the economy picks up...then look into a business.

I'm looking more into getting a townhouse that has gated security (single 30 year old woman). I haven't found anything nice/cheap house-wise here in the Portland, OR area but there are nice townhomes that are not in shady areas.

I can't live w/my parents forever, lol. I did move back a few years back so did live on my own for awhile.

Actually I am leaning towards that now. My credit isn't the best but if I could find a nice townhouse/condo for 80k, taking out a 30k loan wouldn't kill me.

I am probably best waiting til I have 200k in my bank acct, lol.

Thanks brother and for the wise words as well.

My thoughts on forums and online ventures is that we have around 8 billion humans who DO NOT KNOW what we know here on the GLP. Hence, we see the train coming or one could say we see the Titanic going down even before our own captain realizes it. These 8 billion humans ARE going to get economically and should I say, literally slaughtered.

What does someone in pain do when the pain becomes unbearable? They seek SOLUTIONS and CHANGE to help them fix their lives and they are doing this online and a forum with real honesty and loving support WILL THRIVE in this new age if you choose the right niche.

For example, I am somewhat of a modern day prophet and knew homeowners were going to get slaughtered in 2007. So, still on parole from prison 1.5 short years before, I took $10 and started a website based on KNOWLEDGE and then with some creativity and A LOT of hard work, it now makes multiple 6 figures.

I base it on the doing what is right, telling the truth, service to humanity and charity. If you do this, you WILL become successful because the facts are that so few are willing to do what I do and did. Hence, the competition to succeed is MUCH lower than people realize.

Any business you can buy for 100K is not bringing in much money...buy a house, not a condo, and continue to do whatever allowed you to save the 100K

I am a webmaster 1st and seo 2nd. Hence, Google updates rarely effect me and if anything they help me because I do what is rite and I help my users with the best information available and offer charity daily. Most SEO's try and game the system and are selfish.

Bro, I owned a brick and mortar as well with a $250,000 a month over head and 70 employees. I'd rather shoot myself, live with brain damage and be a Wal Mart greeter than have a %250 k nut every month and 70 lil American 40-50 year old babies that have the intelligence of a 10 year old and emotional of a 4 year old.

A home business is the ONLY way to go and if you do not want a web business, start a home biz that maybe services brick and mortars.

neither. buy some gold and silver and watch your dollars grow. and as a benefit, you'll have some real money!

That's good advice!

Only OP might have a decent job s/he has not mentioned.

Small grocery deli and rent your space.

I think there's going to be a market for a new kind of micro housing soon. Think tiny efficiency apartments about the size of the average bedroom...generally four to the space of a normal apartment...but here's the catch. You make it kind of artsy and sophisticated looking and market it to ass broke yuppies who've just managed to get their jobs back and don't EVER wanna be stuck with debt again. And you charge them $600 a month..essentially doubling the amount of money you could get from a normal apartment building spread.