how would you invest $10K so as to supplement your regular income?

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alwayspackin

Well-Known Member
im a hard working father and husband but the money i make is never enough so ive been thinking of ways to earn extra cash above and beyond my everyday job and i have the option to cash in my 401k from my old job and ive been trying to figure how to use it to make more money (no long term investing; i need to make extra cash that is timely and consistent). ive been thinking about starting my own hydro supply shop biz but the area i live in is economically depressed and with times even tougher than usual im a little nervous. i also have another idea but its a bad one which consists of renting an apartment or trailer and growing a nice 1 or 2kw garden in it but then i got thinking what if theres a fire or something unexpected when im not there; that would ruin everything(i live in a non mj friendly state). how would you invest $10k so as to supplement your regular income?
 
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alwayspackin

Well-Known Member
i was thinking about buying some land but around here land is anywhere from 3-10 thousand dollars per acre. i could rent out for boat & rv storage maybe?
 
Airwave

Airwave

Well-Known Member
alwayspackin said:
im a hard working father and husband but the money i make is never enough so ive been thinking of ways to earn extra cash above and beyond my everyday job and i have the option to cash in my 401k from my old job and ive been trying to figure how to use it to make more money (no long term investing; i need to make extra cash that is timely and consistent). ive been thinking about starting my own hydro supply shop biz but the area i live in is economically depressed and with times even tougher than usual im a little nervous. i also have another idea but its a bad one which consists of renting an apartment or trailer and growing a nice 1 or 2kw garden in it but then i got thinking what if theres a fire or something unexpected when im not there; that would ruin everything(i live in a non mj friendly state). how would you invest $10k so as to supplement your regular income?
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A grow op sounds fine to me. As long as you know what you are doing you will have a regular income. 10k will get you a nice big set up and you could make your money back on your first crop. You have to know what you are doing first though.
 
sensisensai

sensisensai

Well-Known Member
Storage is good, however here is what my grandfather did. After his mother passed he took his inheritance and bought I believe 4 acres or so in lake havasu, laid some cement plots, ran some plumbing, and now he makes a solid 65-70k a year renting these lots out to tourist to park their rv's or pitch a tent. That fker is gna die loaded because of it. Not sure if 10k will quite get ya there but its not a bad start, and with the economy more people are inclined to drive and pitch a tent where they are rather than flying and moteling it. His business incres 2.66 percent last quater compared to non-recession quarterly profits apparently bad times make people want to vacation more, also they length of occupation increased and avereage of about 3 days extra. Whatever u decide be it small business or investment, ask a lot of questions and be very wary of everything, act as if everyoine is trying to rip you off, chances are that they are. Best of luck to you
 
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alwayspackin

Well-Known Member
thanks guys, i like the storage unit idea but 10k is just barely gonna cover an acre or two and my credit is for shit.
 
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alwayspackin

Well-Known Member
sensi i like your idea and those are some pretty good comp sales figures but thats just too major league for me; we do have a nice lake here that brings in alot of tourism but an acre of land anywhere near the lake is about 20k and you can forget about lakefront cause thats gonna run you some serious cheddar not to mention the taxes.........OUCH!
 
stupidclown

stupidclown

Well-Known Member
with 10k here you can rent warehouse space where no one cares what you do as long as rent is paid, that said pick up a grow partner put shit in their name rent, power, ect. set up the grow then let then manage it for a % of profit. you put in the cash they take the bust risk, you both make money.

the trick is to pick the right partner. who won't steal or skim. and doesn't have people over to see the cool grow op. just someone who is not an idiot and you can trust
 
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alwayspackin

Well-Known Member
if i were to buy land; ideally it would be adjacent to state land so i could grow outdoors but i feel more confortable growing indoors though it would be nice to tell someone or LEO that its your land when/if they ask what your doing on it.
it could be a dual use thing 1: i could rent it for boat&rv storage 2: i could grow on adjacent land nearbye
 
stupidclown

stupidclown

Well-Known Member
alwayspackin said:
if i were to buy land; ideally it would be adjacent to state land so i could grow outdoors but i feel more confortable growing indoors though it would be nice to tell someone or LEO that its your land when/if they ask what your doing on it.
it could be a dual use thing 1: i could rent it for boat&rv storage 2: i could grow on adjacent land nearbye
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just remember if you are inviting people to camp near your grow they will go for hikes.
 
A

alwayspackin

Well-Known Member
stupidclown: that may be a good idea for some and i appreciate your input but i fly solo; hell i dont even have any real friends.
im over 30 years old and i have kids and the whole lot so i dont jump into any thing without painstakingly researching first and thats why i need your guys help to generate some good ideas. thank you all please keep up the good suggestions
 
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alwayspackin

Well-Known Member
i thought about a small side biz like pressure washing or asphalt sealcoating or window cleaning but the market is flooded with these cats
 
ArrOgNt RocKstAR

ArrOgNt RocKstAR

Well-Known Member
hey man, 10K... open a beer distributer, or liquor store.

and pick up a 600 watt light and grow ya self a pound every 2 months.

The less money people are making the more they drink, and smoke.
 
A

alwayspackin

Well-Known Member
SmokesLikeBob said:
I'd do the grow op...or maybe even start an online business...(cannabis related if it were my choice...)
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i was considering an online hydroponic supply store but how could i keep my prices competitive without investing alot of $ towards having an inventory because i wouldnt want to eat the cost for something if it never sells. is it legal to have an online store that gets its supplies and prices from another (kind of like putting my name over theres and making a small profit on every sale) and if so how would i link the two together?
 
rabbogart

rabbogart

Well-Known Member
Before considering investing your $10K I suggest the following be completed first;

1) Pay off all debt. (credit cards, car loans, etc.)
2) Have a 6 - 12 month rainy day fund in case of family emergency.
3) Have a secure living arrangement. Own a home or rent from someone you can trust not to constantly raise the rent.

You are a family man and must remember the time for high risk (motorcycles, sky diving, gambling and investing to some degree) is behind you.

95% of all businesses fail within the first five years and the other 5% barely make a 5% profit.
 
A

alwayspackin

Well-Known Member
ArrOgNt RocKstAR said:
hey man, 10K... open a beer distributer, or liquor store.

and pick up a 600 watt light and grow ya self a pound every 2 months.

The less money people are making the more they drink, and smoke.
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not a bad idea especially around here cause theres alot of drunk welfare folks. even better would be a little store that sells nothing but beer, cigs, lotto tickets, and coffee $$$$ that could even be the business name! hahahaha
 
A

alwayspackin

Well-Known Member
rabbogart said:
Before considering investing your $10K I suggest the following be completed first;

1) Pay off all debt. (credit cards, car loans, etc.)
2) Have a 6 - 12 month rainy day fund in case of family emergency.
3) Have a secure living arrangement. Own a home or rent from someone you can trust not to constantly raise the rent.

You are a family man and must remember the time for high risk (motorcycles, sky diving, gambling and investing to some degree) is behind you.

95% of all businesses fail within the first five years and the other 5% barely make a 5% profit.
Click to expand...
i have a good paying steady job; im trying to do something on the side to supplement my income and maybe someday shift all my focus towards if it seems feasible. good suggestions though, thank you.
 
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