buy land etc to have an income making tool?

[ezbtr]

is what I was thinking, maybe a parking area(theyre in Oakland) to rent out? less complicated than a rental condo?
My head is all over the place on this subject, just dont have that much info on subject. Buy a business, donut shop, etc???
And as for a townhouse/house purchase, going to keep saving as here in Contra Costa county, prices will prob fall another 10% by year end..
Any suggestions would be great>

 

[Kiwi Phil]

Re: buy land etc to have an income making tool?

parking idea - very clever - but first stop has to be Town Planning for usage and compliance.

buying a business - where do i start. First Q I would like to ask, is how much tax did you pay on the businesses profit. Just my theory, but I like businesses that pay tax, as it is a pretty fair indication as to the level of profit being made. Maybe you need to talk to a straight shooting accountant, who will express honest opinions and facts, and not fear loosing you as a client for "telling the whole truth and nothing but the truth".
Ever thought of starting your own?
What are your skill levels?

As for real estate. It is slow but you do have control.
Cheers
Phillip

 

[greenbush future]

Re: buy land etc to have an income making tool?

I'm doing the land thing, just got dicouraged with the stock market and I am not interested enough to do well. Buying 1-2 rentals a year, near a very growing area, I have renters lined up before I even purchase. Still need to do your homework to know what works and how.
I can do most of the stuff I need to do around these homes, and I enjoy it too. Sure isnt for everyone.