It’s because it’s nowhere near as easy as you make it sound and it’s not for everybody it takes a toll on a lot of people mentally being around death 24/7 but if you can get use to dead people all day then you have to account for the business aspect and knowledge of taking care of dead bodies especially if business is booming do you know to work with dead bodies preserving the body etc it’s a lot that goes into that it doesn’t matter about it booming it’s a lot that comes with owning a funeral home especially by yourself
As a past owner operator of a transportation company for over 10 years. Unless people have an established route and an extra 50k for maintenance, repairs, equipment, and compliance, it's a recipe for disaster. My insurance company told me the average trucking company lasts 9 months. When I finally got out of the business, I was about 70k in debt.
Yep. I’m a company driver never leased or O/O but have done research into it, when she said the success rate I knew immediately she didn’t do any research into it.
Especially now with the whole $8000 to get a cdl and then insuring drivers that u don’t know much about or if they’ll stay long enough to be able to drive in their own after the company forms over that big wad of cash for the cdl expense…they made being a semi driver into what they did to a dental assistant becoming a dental hygienist that now costs a fortune to be and requires excessive pay to cover the expense of the government forced requirements….things are too expensive as it is…they probably haven’t seen the end results of what was done to trucking/delivery yet…inflation caused by government over reach big time
I agree with you, TH-camrs sometimes they suggest the route of failure to others, why I’m not sure lol.. be aware and present everyone do your own research, trust ur gut feelings and Trust God! A lot of misleading info.. out there
Be careful about acting like a senior care center is just some simple great way to make money. The number of senior care centers that are mismanaged slums where seniors are abused and neglected because the owners view them purely as a money making schemes instead of a socially responsible part of the longterm healthcare system is unconscionable.
most businesses should not be a corporation, this is 1 that cannot be. churches/religious should be, same as hospitals. it's not about profit greed is a horrible god.
I'm going to start a roaming laundry mat double bus that rents out the top with cots to a bunch of seniors who also pay for lower compartments for storage. The seniors can also stock my vending machines and run packages to doors as I drive around the city. Gonna cross all 6 of these off my list in one master plan
Having real estate can be different than having rental properties. And having rental properties can fail if it’s not managed right. I’m speaking from experience. I had a rental property and had to sell it because it wasn’t profitable. And it’s difficult finding the right tenants.
@@Mrs.Rhoden yeah that part. thats what make it a fail or a win. finding good tenants. someone once told me doing section8 is an option. i dont know how thatd work with a good property that one might have sentimental attachment to though. but at least your money would be a sure thing.
Damn right. Look what happened in Europe and France recently: the whole sector got their stock price divided by 1000 (!!) following a scandal on the way people were treated, resulting in inability to pay their debt instalments, recapitalisation etc the rest is history
She said 97 % success rate... guess you're in that 3%.. We don't know how you're running your business but whomever wants to start this type of business go for it and trust God for your business success don't let anyone discourage you!
Let's not forget our Check-To-Cash place too. If you are drinking and pawning stuff regularly, chances are, you aren't a 'client' banks want to have... Gotta cash that check from your Blue-Collar employer somewhere
Only problem with liquor store is times are changing. Millennials and gen z don’t purchase alcohol as much as the older generations did but cannabis seems to be excelling. Those stores are popping up everywhere.
As a 16 year realtor I totally disagree about rental properties. I've seen them drive many into debt. Maintenance issues, non paying tenants, vandalism, etc. So overrated. They can be profitable, but they fail way more than people think
My only loss was from covid. Thanks to our government throwing every landlord under the bus. My two year lease paid only one year's rent. No point going after her. She lied about losing her job, claimed her daughter died of covid, gaslighted me the entire year. Aside from having a heart and conscience during that year, I couldn't do anything legally anyway. Generally if you background check potential tenants they are pretty good. At least in my market.
There is a 100% caution if starting a transportation company. 90% fail within the first eight months. This business is NOT recession proof! Carriers are failing daily in this economy.
@@charchar7897 How does a good dispatcher help with doubled insurance premiums or lack of loads? It is not about connections in this economy. A company will do better with signed contracts. However, the freight market is low, very low. Even if a carrier has a contract, that does not equal to loads. I had both a dispatch service and a carrier service.
TH-cam videos like this should require sourcing of statistics... these seem spurious at best... all of these are very capital intensive, and in many cases low margin due to OPEX
@@Kath0080 After 27 years on Wall Street I know that people with a YT channel are not considered as a serious source of information on investing. They are peddling their brand not anything insightful. This is information available in any freshman business class so imagine my surprise that it’s as insightful as water is wet.
Senior Care: Because we're all getting OLDER! (I PRAY THAT SOMEHOW YOU ALL WILL MAKE JESUS CHRIST 👑 YOUR LORD AND SAVIOUR BEFORE YOU PASS AWAY. BECAUSE THEN IT WILL BE TOO LATE!)
Really? Rental properties There’s business and there’s investments.. and while they overlap, rental properties should be their own category, under investments Difference being start up costs for example landscaping business 5k to get started. But 5k to start rental properties? Good luck
As a result of the pandemic and mass evictions, property owners are getting out of the business or turning over property to management companies. The results are higher rents and reduction of affordable housing. As for retirement homes, my state requires facilities to be licensed. Occasionally, the state will shut down such a facility. All facilities that get government funding must comply and the state will inspect all facilities. Assisted living requires certain certifications including CPR.
@@juliaagnes7 talking to property owners, rentals are more of an investment/ tax write off. State/ local restrictions dictate what a property owner can or cannot do. Once I was required to make 3 times the monthly rent and produce pay stubs. That was an indicator of what sort of person renting was like. Once upon a time rentals were income producers, not today. These big complexes you would think made money. Investment companies kept them for so long for tax purposes. Shows like I Love Lucy, the Mertz’s relied on long term rentals and interest rates were much lower, plus people tended to be long term renters. When I rented, I tended to stay in an apartment 3 to 5 years and that made the owners happy. It costs the property owners money (loss in rent plus renovations) when one moves out and another moves in.
Anything essential and b2b actually. Just depends how simple or complex they are. For my Chinese entrepreneurial family b2b is the best because most businesses order in bulk, no need for marketing, and it will surely sell. Most are cleaning services/crew, fabric/beddings for hotels and hospitals, tires and car parts, etc
In the United States army, I drove trucks, some people got out and made a business of it in the civilian world. I talked to somebody and they were telling me how much of a grind it was. They had freedom to own their own business, but it sounded rough.
If you can't make it in Logistics, there's something wrong! I help new O/O get set up and established, and I also dispatch them. I have one guy who I set up Juiy 2023, and by Oct 2023 he had his second truck. He's buying 2 more trucks now. There's billions in trucking, you've just make the right connections.
Transportation is hardly a good business. Lot of competition, razor thin margins, and can easily go bankrupt if gas prices go up. If transportation was that great, Amazon and others would not have outsourced it
My city (London) have started a 24 hour laundromat machine so think washer/dryer vending machine type thing. It’s located at gas stations and outside so doesn’t matter if the gas station is closed.
Owning real estate is only not risky for the super rich. Thats why they're buying all of it. And the land. If you're not rich already and dont have an actual idea for a business its not a good idea to try to get rich by owning property
In my experience, most people who do real estate do it wrong. They're lazy and don't fix up properties, and they don't follow the laws regarding evictions properly, or laws about cleanliness/livability. I did all the work myself when I started out, and would file eviction for non payment after just 15 days late, as the law allowed. No one messed around with not paying after that, and I had no trouble getting renters because they all said my units were nicer for cheaper than others. Plus, I flipped townhouses on the side. Be a good property owner for the tenants but don't let them walk all over you, gain mutual respect, and it works out. I heard countless stories of owners not fixing issues or tenants taking too long to evict. Both are completely avoidable.
What products are you selling on eBay and Amazon? I’m sure it won’t affect your grand plan to share, but it will give budding entrepreneurs ideas of how they can monetize something they love or have not thought of..❤
So if she just said that “senior care centers” like the one my very aged grandmother just hd to move into yesterday, are “really expensive to get in to” maybe by that meaning the 5k a month for absolute shit prison food, questionable care behind closed doors, deplorably depressing surroundings, but yet this was the absolute best my mother could find?? It is a serious criminal act if those Owners are getting rich off of govt grants while my grandmother spends her last days in questionable care. I just have to work harder, see her less, stress more, to try to get rich to care for her. 🤞🏼🙏🏻
Or you could quit your job, upend your life and care for memaw like they do the rest of the world. You are paying for the privilege of someone else caring for her. Guess storage of things and people really is good business...
😢 Tbh, in 10 years, 5k a month will need to be upped to 10k, or they will let her languish in any for profit care, esp as boomers die off, and homes slowly become empty. Now, if you (or any relative) took care of her currently, would the government cover her "rent"? Would they provide a nurse to visit and help out, and rides to the doctor visits? They sort of do where I live. Maybe, if such gov money can be made available to you, as it is for others, ask about how to care of her, and buy a house with the money they give plus her share of ss, as long as you can give her a better place, food, and access to friends and family. You buy a house, she gets to live healthy. In 20 years, you will thank her, and she will thank you.
So become a landlord on a care home (simply one residential house) and put 5 seniors in there. You only need one caregiver (not a nurse or a CNA) on staff. My mom did that and paid $3000 per month
I am actually strongly interested in it because I absolutely have loved working as a CNA and then serving the elderly. Any tips on how to make it profitable while doing what I love with the people I love.
Rental properties only work for people who are already rich. Been like that for the whole of human history. People think they can compete in real estate with the literal people they pay their mortgage to
The thing that really shocks me about this is that you named 3 of the businesses I’ve always wanted to get into. Had I done it 30 years ago when I thought of it, my circumstances would be sooo so different from now. Why I 2nd guessed myself, I’ll never know.
Storage, laundromat, and vending... combined! Imagine if an arcade was across from a school and had a laundromat and they could get to their stored stuff the same day?
There is a bar in my hometown (across from a major college) that also functions as a laundry mat and mini arcade. Of course they have vending machines and ads for other local businesses posted everywhere for more passive income😂
Now way I could get into that business. My family and culture absolutely are against and I would spend my time trying to get my customers to quit rather than sell it to them. Not a good way to keep consistent clients.
Business shouldn't be about just making quick easy money. You need to have a purpose and good reason to run one, otherwise you'll fail. Because running a business isn't that easy, it requires works , consistency, and good ethics to make it. Otherwise you'll fail and you'll compare yourself to other businesses and stress the self out of you. It's risky and it is not as easy as she says it is.
Senior care centers don't work out in the long run because even as they charge astronomical rates for usually substandard care, the margins are eaten up by staffing and various other care needs. Unless you neglect those and run off with the money, which I'm pretty sure qualifies someone as being evil.
Tip no. 7, make you tube videos about top 6 businesses that never fail🤷. I hope someone doesn't go into rental properties because of this video. Only a small portion of property owners become cash flow positive early, and the rest has to wait it out for 10 to 20 years.
CODIE LET ME CONGRATULATE YOU!!! YOU ARE DOU G AN AWESOME JOB TEACHING US MORTALS THIS VALUABLE INFORMATION RHAT WILL CHANGE OUR LIVES!!!! YOU ARE A TRUE LEADER. DO YOU HAVE ANY SMALL COURSE ON HOW TO BUY A BUSINESS WITH FINANCE BY OWNER WHEN ONE DOES NOT HAVE A LOT OF MONEY FOR A LOAN????
Own two large assisted living. Worst business on earth. Grants or any other gift money does not make up for all the drains on cash. Many, many, many of these are in bankruptcy or heading there. Its a 24/7 365 business, not rental. What could be worse than that? I have 2 for sale for anyone with delusions of grandure
Best advice I can give those wanting to step into any of these ventures. Always BLOCK OUT THE STATIC AND NEGATIVE NOISE, focus all your attention on your pursuits, take notes, take action and dive in. Success WILL find you, the universe LOVES when you take action and are consistent with your pursuits. All the best! You deserve it. 😉🫡
If you only a few, it's better to do it yourself and save the money Also, screen your tenants well... If you find a decent tenant. It's better to give them a discount and keep them for the long term. Less headache! Bad tenants although willing to pay more are never really worth the headache and damage they cause @@nf325
Repairs go with rental homes. If a person doesn't have a vast knowledge of maintenance they have to contract it out and then there is material chasing and costs...while you work a full time job. Then there is the desperation to get it rented..I know of landlords checking out potentials media.
Renters wreck your house and default on rent. You cant go after them in Ontario Canada. You also cant increase rent rate even if your mortgage interest and utitities and maintenance go up. Many Landlords are filing for bankruptcy in Ontario
Its all part of the plan. Bigger corporations that want to gain a monopoly on the rental market are lobbying for such laws. Bl@ck rock is the most notorious and corrupt with pockets full of paid off politicians.
My wife ran a home daycare back when my kids were babies (23 years ago). Everything was highly regulated by our state, it was a nightmare what the state put us through just to make a few hundred dollars per week. Watching the kids isn't the hard part, it is dealing with dozens and dozens of regulations and knowing that at any minute you could get a random visit from a state inspector. My wife closed down our home daycare once our kids were old enough to start school. It is a very tough business because of these rules and regulations.
@@stevehumble8865 babies are precious. ofc you need regulation so you dont feed them junk and let them watch tv/ipad all day until their parents pick them up. not to mention inappropriate touching/photos from pedo caretakers.
I would like to learn more about the senior care business. My grandfather who recently passed away lived in a few before his passing. I always hated how they were run and felt like there was a lot to be desired in how they care for the residents. I also think it’s a very promising business given all the baby boomers who are well into retirement years. Sounds complicated to start, what’s the best way to learn more?
Costs on senior care facilities have increased drastically, don’t try this unless you really know what you’re doing. Don’t know where this success rate come from
The delivery services can fail if the economy goes down. People have no money to buy online or anywhere for that matter. The laundromat business is always booming. That's #1 recession proof right there.
I am not from the US, so my English is not that good. But you opened a garage that you rent out to logistic vehicles, is that what you mean? And how did they find your location? Thankk you and great for you!
Out of the 6, 3 have to do with Real Estate. In all 3 of these cases, there are two (2) elements that are absolutely essential for them to be successful. On top of that, each of these three have their own quirks that makes them successful. How do I know ? I know because I am in all three areas and other RE areas as well.
With success rates like that, it makes it very tempting to dump your money into one of them hoping it does turn out successful, but I think we’re only looking at it from a very positive lense and missing the hardships one would encounter and how to actually make it successful
Transportation is a tough game though! Lots of freight brokerages are failing. There is too much capacity in the market. Even new transportation companies that are asset based are going belly up. You also need licensing and to cover transportation costs (fuel + drivers). You need to know if you're going to do drayage, interstate, long hauls, etc. Do not get into transportation without having some lanes for you. Otherwise you might sit with empty backhaul lanes.
Amazon business I disagree with. Amazon can run stats and drop a whole company like nothing in a heartbeat and if that’s all you have your investment devoted t towards, you can be in bad luck very quickly.
SENIOR CARE shouldn't be a business! We take care of our seniors at home because they raised us ❤ If I as a daughter am getting all my parents assets then should I not take care of them ??! American society is regressive !
Agreed. But that isn’t the prevailing American mentality. Caring for elderly and children is seen as a degrading nuisance that many people like to pawn off to others. I blame feminism.
Not everyone can. Many adult children still work full time. Some seniors require complex medical care that can't be managed daily except by professionals. To stay at home with family = often the ideal, but is not always possible.
Here’s some more Salon Painting Roofing Sports center with membership Cafe Internet cafe, remember those? Every business has its downside you can make anything work well if you’re committed and prepared
Yea I think she meant the units themselves. In other words you can scale by buying more atms but once a single machine in up and running putting more $$ in is not going to make more people use your machine
The vending machines reach a saturation point per location. So if you have 5 vending machines you fill, you'll do better at the location with 2 or 3 choices but if you stick 5 machines, 5 choices in one location you'll do less because your cost to stock and machines will increase while your revenue will stagnate. You could corner the market on one type of product and spread them around but some places come down to avalability of free space. A few machines in one location is ok but many machines in one location is cramped. (Unless you are in a vending society like japan that can sell just about everything in a room full of a maze of vending machines...) So it doesn't scale easily. I think you'd be better off with a 7/11 party store than scaling vending machines.
@@BurninGems This is why vending machines in Japan have gotten so creative. No two vending machines have the exact same thing. But the varieties of what's in them are endless.
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
No one ever mentions funeral homes. They will never go out of business. It’s a constant flow of customers.
You need schooling behind this business.
It’s a fairly advanced profession. It’s also highly consolidated (monopolized).
It’s because it’s nowhere near as easy as you make it sound and it’s not for everybody it takes a toll on a lot of people mentally being around death 24/7 but if you can get use to dead people all day then you have to account for the business aspect and knowledge of taking care of dead bodies especially if business is booming do you know to work with dead bodies preserving the body etc it’s a lot that goes into that it doesn’t matter about it booming it’s a lot that comes with owning a funeral home especially by yourself
You are a genius !!!
Especially in Detroit and Chicago. ❤
As a past owner operator of a transportation company for over 10 years. Unless people have an established route and an extra 50k for maintenance, repairs, equipment, and compliance, it's a recipe for disaster. My insurance company told me the average trucking company lasts 9 months. When I finally got out of the business, I was about 70k in debt.
Yep. I’m a company driver never leased or O/O but have done research into it, when she said the success rate I knew immediately she didn’t do any research into it.
Thanks for sharing
Especially now with the whole $8000 to get a cdl and then insuring drivers that u don’t know much about or if they’ll stay long enough to be able to drive in their own after the company forms over that big wad of cash for the cdl expense…they made being a semi driver into what they did to a dental assistant becoming a dental hygienist that now costs a fortune to be and requires excessive pay to cover the expense of the government forced requirements….things are too expensive as it is…they probably haven’t seen the end results of what was done to trucking/delivery yet…inflation caused by government over reach big time
I agree with you, TH-camrs sometimes they suggest the route of failure to others, why I’m not sure lol.. be aware and present everyone do your own research, trust ur gut feelings and Trust God! A lot of misleading info.. out there
She is not necessarily referring to tractor trailers ...more than likely last mile
Be careful about acting like a senior care center is just some simple great way to make money. The number of senior care centers that are mismanaged slums where seniors are abused and neglected because the owners view them purely as a money making schemes instead of a socially responsible part of the longterm healthcare system is unconscionable.
My dad left my grandma in an upscale center they were treating her terrible my brother checked her out and lived with him until she passed 😔
Exactly what I was thinking. Do not encourage people to start a senior care center just for money! Those poor old people!!
😂
most businesses should not be a corporation, this is 1 that cannot be. churches/religious should be, same as hospitals. it's not about profit greed is a horrible god.
😢😢🙏🏽🙏🏽🙏🏽 so true! It makes me sad and needs to be reported. That further tells me how some treat their family own members... poorly! 🤦🏽♀️
I'm going to start a roaming laundry mat double bus that rents out the top with cots to a bunch of seniors who also pay for lower compartments for storage. The seniors can also stock my vending machines and run packages to doors as I drive around the city. Gonna cross all 6 of these off my list in one master plan
😂
That actually might work 😂😂
Man that is the best idea ever!!!!!!! If you need any help at all feel free to contact me!
Very nice!
Lol
Having real estate can be different than having rental properties. And having rental properties can fail if it’s not managed right. I’m speaking from experience. I had a rental property and had to sell it because it wasn’t profitable. And it’s difficult finding the right tenants.
Facts. My husband and I are dealing with this currently
location location location....AND a good property management company. takes the stress off of you and you can steadily grow some income.
@@Mrs.Rhoden are you guys self-managing? what are some of the issue being experienced?
@@sterlingkayon84 no we’re working with a property management, but finding good tenants is the biggest problem
@@Mrs.Rhoden yeah that part. thats what make it a fail or a win. finding good tenants.
someone once told me doing section8 is an option. i dont know how thatd work with a good property that one might have sentimental attachment to though. but at least your money would be a sure thing.
Laundromats ,you got to have a good location...
Like with anything.
and that location can be poor with higher crime
@@ST-rj8iu True...
@@ST-rj8iuit has to be poor because everyone else has their own washing machines
Laundry 😵💫 cancer . Chemicals big time . Get ready to sleep there work is 🥹
The business built with passion, focus and consistency will be the business that rarely fails😉💫
Getting into storage businesses is unattainable now. Big corporations have flooded the industry. So frustrating
You can actually start dropshipping business
storage = future homes ??
Right. Pods Moving & Storage and Life Storage has the game on lock.
@@tsaunders4684
I was hoping to get into RV storage but you cannot break into that market without millions to start now
Big investment companies are buying everything they can, including homes. "You will own nothing and be happy."
When I think of senior care centers I think of liability and lawsuits. The others not so much.
Damn right. Look what happened in Europe and France recently: the whole sector got their stock price divided by 1000 (!!) following a scandal on the way people were treated, resulting in inability to pay their debt instalments, recapitalisation etc the rest is history
Not so much. Who’s gonna sue? The elderly die every day.
I am a senior living owner/operator. 97% success rate is plain false. It's not remotely close to that.
No? Pray tell.
Could you share some specifics please? Genuinely curious. 😊
@@vivekparmar7576
I hope he/she answers
She said 97 % success rate... guess you're in that 3%.. We don't know how you're running your business but whomever wants to start this type of business go for it and trust God for your business success don't let anyone discourage you!
And seeing your care centers scam off the government getting that money jacking up the rates and the care and the quality of food is not that good
I have rental property, and if you have bad tenants, you won't be profitable. I will never do this again. My market is bad.
bad tenants will Always screw things up. its appalling how messy and destructive people can be. omg smh.
Exactly
I'm buying if you're selling!
Which city you based in?
Just invest through REITs.
liquor stores rarely fail,pawn shops
Ppl always be drinking if they just had to pawn the family jewels. Probably set up next to each other. With a gun store capped on the end.😂
And tattoo shop also
The average liquor store makes $300,000/year.
Let's not forget our Check-To-Cash place too. If you are drinking and pawning stuff regularly, chances are, you aren't a 'client' banks want to have... Gotta cash that check from your Blue-Collar employer somewhere
Only problem with liquor store is times are changing. Millennials and gen z don’t purchase alcohol as much as the older generations did but cannabis seems to be excelling. Those stores are popping up everywhere.
As a 16 year realtor I totally disagree about rental properties. I've seen them drive many into debt. Maintenance issues, non paying tenants, vandalism, etc. So overrated. They can be profitable, but they fail way more than people think
ok slay
My only loss was from covid. Thanks to our government throwing every landlord under the bus.
My two year lease paid only one year's rent. No point going after her. She lied about losing her job, claimed her daughter died of covid, gaslighted me the entire year. Aside from having a heart and conscience during that year, I couldn't do anything legally anyway.
Generally if you background check potential tenants they are pretty good. At least in my market.
Rental properties are a HUGE risk. People squat and don't pay their rent and there is little you can do about it (especially in the winter months)
@@SuperMortiki great points. Certainly is true in my part of the country
@@SuperMortiki Depends where you live.
There is a 100% caution if starting a transportation company. 90% fail within the first eight months. This business is NOT recession proof! Carriers are failing daily in this economy.
Hell yeah. Amazon can barely keep people with they 🥜🍑 demands!
The cost of fuel must heavily influence the profit margin which is mostly out of your control
New trucking companies need a dispatcher with connections. Pay the 10% fee and scale your business the right way.
@@charchar7897
How does a good dispatcher help with doubled insurance premiums or lack of loads? It is not about connections in this economy. A company will do better with signed contracts. However, the freight market is low, very low. Even if a carrier has a contract, that does not equal to loads.
I had both a dispatch service and a carrier service.
@@mapgrrlfuel and insurance cost is out of control.
TH-cam videos like this should require sourcing of statistics... these seem spurious at best... all of these are very capital intensive, and in many cases low margin due to OPEX
Online business advice channels on social media rarely fail because no one does any research into the authors of these channels.
Right!
😮
Lol okay... Is that a dig at Codie? Might wanna look into her businesses and assets...
@@Kath0080
After 27 years on Wall Street I know that people with a YT channel are not considered as a serious source of information on investing. They are peddling their brand not anything insightful.
This is information available in any freshman business class so imagine my surprise that it’s as insightful as water is wet.
@@Kath0080What are they? Inform us.
Senior Care: Because we're all getting OLDER! (I PRAY THAT SOMEHOW YOU ALL WILL MAKE JESUS CHRIST 👑 YOUR LORD AND SAVIOUR BEFORE YOU PASS AWAY. BECAUSE THEN IT WILL BE TOO LATE!)
Really? Rental properties
There’s business and there’s investments.. and while they overlap, rental properties should be their own category, under investments
Difference being start up costs for example landscaping business 5k to get started. But 5k to start rental properties? Good luck
Shush
Jesus was an ordinary human being. And please let people alone. Let your neighbors live in peace in an honest and free country.
@@tw8464 what's it like being wrong?
Amen believe in the Lord Jesus christ and be saved. He's coming soon.
As a result of the pandemic and mass evictions, property owners are getting out of the business or turning over property to management companies. The results are higher rents and reduction of affordable housing. As for retirement homes, my state requires facilities to be licensed. Occasionally, the state will shut down such a facility. All facilities that get government funding must comply and the state will inspect all facilities. Assisted living requires certain certifications including CPR.
Rentals are not money makers!
@@juliaagnes7 talking to property owners, rentals are more of an investment/ tax write off. State/ local restrictions dictate what a property owner can or cannot do. Once I was required to make 3 times the monthly rent and produce pay stubs. That was an indicator of what sort of person renting was like. Once upon a time rentals were income producers, not today. These big complexes you would think made money. Investment companies kept them for so long for tax purposes. Shows like I Love Lucy, the Mertz’s relied on long term rentals and interest rates were much lower, plus people tended to be long term renters. When I rented, I tended to stay in an apartment 3 to 5 years and that made the owners happy. It costs the property owners money (loss in rent plus renovations) when one moves out and another moves in.
Your comment is spot on. I am definitely getting out of renting.
Anything essential and b2b actually. Just depends how simple or complex they are. For my Chinese entrepreneurial family b2b is the best because most businesses order in bulk, no need for marketing, and it will surely sell. Most are cleaning services/crew, fabric/beddings for hotels and hospitals, tires and car parts, etc
Thanks for such excellent advice. Your family is very wise.
I have to say, transportation is crashing. As a truck owner, I can speak on this directly
Why is that?
In the United States army, I drove trucks, some people got out and made a business of it in the civilian world. I talked to somebody and they were telling me how much of a grind it was. They had freedom to own their own business, but it sounded rough.
Bidenomics to thank for that
If you can't make it in Logistics, there's something wrong! I help new O/O get set up and established, and I also dispatch them. I have one guy who I set up Juiy 2023, and by Oct 2023 he had his second truck. He's buying 2 more trucks now. There's billions in trucking, you've just make the right connections.
He just doesn’t want more competition lol
My in-laws owned a laundry mat and it was nothing but a headache unless you like sacrificing your Sundays to fix machines
We had friends who made a very good living from a laundromat in Europe. But they lived about it & it was easy for them to check on all the time.
Transportation is hardly a good business. Lot of competition, razor thin margins, and can easily go bankrupt if gas prices go up. If transportation was that great, Amazon and others would not have outsourced it
Fuel prices can be hedged, but most don't do it or don't know how.
My city (London) have started a 24 hour laundromat machine so think washer/dryer vending machine type thing. It’s located at gas stations and outside so doesn’t matter if the gas station is closed.
where is it?
Here we have this too. Is simply called Laundromat
@@guilhermehx7159 this out in the open not in a storefront and it’s at gas stations
Rental properties are a HUGE risk. People squat and don't pay their rent and there is little you can do about it (especially in the winter months)
And the government protects tenant's rights so it's hard to deal with bad renters.
I saw on TH-cam and movies, they call cops to evict, is that false info?
Owning real estate is only not risky for the super rich. Thats why they're buying all of it. And the land. If you're not rich already and dont have an actual idea for a business its not a good idea to try to get rich by owning property
In my experience, most people who do real estate do it wrong. They're lazy and don't fix up properties, and they don't follow the laws regarding evictions properly, or laws about cleanliness/livability. I did all the work myself when I started out, and would file eviction for non payment after just 15 days late, as the law allowed. No one messed around with not paying after that, and I had no trouble getting renters because they all said my units were nicer for cheaper than others. Plus, I flipped townhouses on the side. Be a good property owner for the tenants but don't let them walk all over you, gain mutual respect, and it works out. I heard countless stories of owners not fixing issues or tenants taking too long to evict. Both are completely avoidable.
#1 the OLDEST PROFESSION !!!!
Farming?
@@mlayton1904 More like,, clamming.
Escorts is the oldest profession
@@Chakdefatte194 👍 yes --- and how respectful and cultured you are!!! 😊
@@mlayton1904🤣
2 Businesses that kept me from working since 2009..... eBay and Amazon
How?
Do you do FBA.. what products do you sell 😊
Care to expand/explain? Please do
What products are you selling on eBay and Amazon? I’m sure it won’t affect your grand plan to share, but it will give budding entrepreneurs ideas of how they can monetize something they love or have not thought of..❤
Crickets. 🤷♀️
Funeral homes, I hear people are dying to get in!
💎
I don't know, I heard funeral homes are pretty dead.
😂
So if she just said that “senior care centers” like the one my very aged grandmother just hd to move into yesterday, are “really expensive to get in to” maybe by that meaning the 5k a month for absolute shit prison food, questionable care behind closed doors, deplorably depressing surroundings, but yet this was the absolute best my mother could find?? It is a serious criminal act if those Owners are getting rich off of govt grants while my grandmother spends her last days in questionable care. I just have to work harder, see her less, stress more, to try to get rich to care for her. 🤞🏼🙏🏻
Or you could quit your job, upend your life and care for memaw like they do the rest of the world. You are paying for the privilege of someone else caring for her. Guess storage of things and people really is good business...
😢 Tbh, in 10 years, 5k a month will need to be upped to 10k, or they will let her languish in any for profit care, esp as boomers die off, and homes slowly become empty.
Now, if you (or any relative) took care of her currently, would the government cover her "rent"? Would they provide a nurse to visit and help out, and rides to the doctor visits? They sort of do where I live.
Maybe, if such gov money can be made available to you, as it is for others, ask about how to care of her, and buy a house with the money they give plus her share of ss, as long as you can give her a better place, food, and access to friends and family. You buy a house, she gets to live healthy. In 20 years, you will thank her, and she will thank you.
Get her a CNA & room in your home. You must be Caucasian.
So become a landlord on a care home (simply one residential house) and put 5 seniors in there. You only need one caregiver (not a nurse or a CNA) on staff.
My mom did that and paid $3000 per month
@@highonsmognot really. One must quantify.
Senior care as a profit making endeavor is a tedious road if you want to provide proper service.
I am actually strongly interested in it because I absolutely have loved working as a CNA and then serving the elderly. Any tips on how to make it profitable while doing what I love with the people I love.
The problem with businesses like laundromats, is that you’re not setting it up in a nice part of town. Those people can afford machines.
I love the short and concise video and to the point.
Excellent
Thank God i got your channel back. You have been a motivator
All ideas are a good start but no rich or famous person will give you the whole story. They will sell it to you and even then it’s not all of it.
Anything senior business will always be lucrative. Multiple forms of senior businesses will never go out of business
Rental properties don’t give a lot of cash flow though especially for small investors. It’s a long term stressful expensive investment.
Rental properties only work for people who are already rich. Been like that for the whole of human history.
People think they can compete in real estate with the literal people they pay their mortgage to
The thing that really shocks me about this is that you named 3 of the businesses I’ve always wanted to get into. Had I done it 30 years ago when I thought of it, my circumstances would be sooo so different from now. Why I 2nd guessed myself, I’ll never know.
Maybe you can start now!
1. Real Estate Rentals 85% success rate
2. Laundromats 95%
3. Self Storage 92%
4. Transportation 90%
5. Vending Machines
6. Senior Care Centers 97%
Bonus: Funeral Homes
Storage, laundromat, and vending... combined!
Imagine if an arcade was across from a school and had a laundromat and they could get to their stored stuff the same day?
There is a bar in my hometown (across from a major college) that also functions as a laundry mat and mini arcade. Of course they have vending machines and ads for other local businesses posted everywhere for more passive income😂
Thanks for the idea 💡
How about a combination liquor, beer and wine store, plus tavern. New Jersey has them because grocery stores can’t sell beer.
And if you convince old people to live in the empty storage units kaboom
Hear me out. Liquor store, divorce lawyer, and bankruptcy lawyer in same building. And cleaners. When the guy gets taken through it. 😊
Weed/Smoke Stores....especially since it's legal now
Now way I could get into that business. My family and culture absolutely are against and I would spend my time trying to get my customers to quit rather than sell it to them. Not a good way to keep consistent clients.
Self storage. No wonder. The fees, the people stealing your stuff, what a racket
Fees for what? Who stealing stuff? Take your meds.
THEY STOLE ALOT OF MY STUFF?
Business shouldn't be about just making quick easy money. You need to have a purpose and good reason to run one, otherwise you'll fail. Because running a business isn't that easy, it requires works , consistency, and good ethics to make it. Otherwise you'll fail and you'll compare yourself to other businesses and stress the self out of you. It's risky and it is not as easy as she says it is.
Senior care centers don't work out in the long run because even as they charge astronomical rates for usually substandard care, the margins are eaten up by staffing and various other care needs.
Unless you neglect those and run off with the money, which I'm pretty sure qualifies someone as being evil.
This is TERRIBLE input and incorrect on many levels! My brother just opened a SECOND l9cation in february and business is THRIVING
@@choosewisely6705 Maybe, it holds pretty true for our local area though. How are the patients?
Tip no. 7, make you tube videos about top 6 businesses that never fail🤷. I hope someone doesn't go into rental properties because of this video. Only a small portion of property owners become cash flow positive early, and the rest has to wait it out for 10 to 20 years.
CODIE LET ME CONGRATULATE YOU!!! YOU ARE DOU G AN AWESOME JOB TEACHING US MORTALS THIS VALUABLE INFORMATION RHAT WILL CHANGE OUR LIVES!!!! YOU ARE A TRUE LEADER. DO YOU HAVE ANY SMALL COURSE ON HOW TO BUY A BUSINESS WITH FINANCE BY OWNER WHEN ONE DOES NOT HAVE A LOT OF MONEY FOR A LOAN????
You really know it all. I’m happy for you.
Own two large assisted living. Worst business on earth. Grants or any other gift money does not make up for all the drains on cash. Many, many, many of these are in bankruptcy or heading there. Its a 24/7 365 business, not rental. What could be worse than that? I have 2 for sale for anyone with delusions of grandure
I had a feeling this was Too Good To Be True ❗🤔😬😡
This woman is just bulls*** talk
My brother just opened a sec one in february! Business is BOOMING, mainly because of HOW he runs them, he has waiting lists they so good. 😉
Best advice I can give those wanting to step into any of these ventures. Always BLOCK OUT THE STATIC AND NEGATIVE NOISE, focus all your attention on your pursuits, take notes, take action and dive in. Success WILL find you, the universe LOVES when you take action and are consistent with your pursuits.
All the best! You deserve it. 😉🫡
SUPERMARKETS!!!!
Even during a pandemic they get rich!!!
Transport is doable and ATM machines well less cost effective I guess.
The 2 best business that Never Fail
The Funeral parlor with Crematory on site
And Good old IRS ❤😊
I'm running the first one.. She's spot on
Do you use a property management company? When I was a landlord for renters it was SO stressful!
If you only a few, it's better to do it yourself and save the money
Also, screen your tenants well... If you find a decent tenant.
It's better to give them a discount and keep them for the long term. Less headache!
Bad tenants although willing to pay more are never really worth the headache and damage they cause
@@nf325
@@nf325My Wife and I are thinking of getting into rental properties but we don’t know much about it. What were some of the pitfalls you faced?
Owning houses to rent is not a business. Literally not a business, its rent.
How do you own the property? You have to start with money
Repairs go with rental homes. If a person doesn't have a vast knowledge of maintenance they have to contract it out and then there is material chasing and costs...while you work a full time job. Then there is the desperation to get it rented..I know of landlords checking out potentials media.
Renters wreck your house and default on rent. You cant go after them in Ontario Canada. You also cant increase rent rate even if your mortgage interest and utitities and maintenance go up. Many Landlords are filing for bankruptcy in Ontario
Its all part of the plan. Bigger corporations that want to gain a monopoly on the rental market are lobbying for such laws. Bl@ck rock is the most notorious and corrupt with pockets full of paid off politicians.
Thank you for your advice and assistance
I want to start a storage business, just need to come up with a few million first 🤣
You can actually start dropshipping business
That why banks exist; first you have to have a solid plan.
Your so Boss 😊 can't help to listen to you command the viewer with your powerful eyes ! Respect the 🧠 and the beautiful in your videos.
That’s why humanity is doomed. Real estate and greed
What would you say about Daycare??? I want to start one and would love to hear something from you.
My wife ran a home daycare back when my kids were babies (23 years ago). Everything was highly regulated by our state, it was a nightmare what the state put us through just to make a few hundred dollars per week. Watching the kids isn't the hard part, it is dealing with dozens and dozens of regulations and knowing that at any minute you could get a random visit from a state inspector.
My wife closed down our home daycare once our kids were old enough to start school. It is a very tough business because of these rules and regulations.
@@stevehumble8865 babies are precious. ofc you need regulation so you dont feed them junk and let them watch tv/ipad all day until their parents pick them up. not to mention inappropriate touching/photos from pedo caretakers.
You can start a dropshipping instead
I would like to learn more about the senior care business. My grandfather who recently passed away lived in a few before his passing. I always hated how they were run and felt like there was a lot to be desired in how they care for the residents. I also think it’s a very promising business given all the baby boomers who are well into retirement years. Sounds complicated to start, what’s the best way to learn more?
Become a CNA to get a ground level view of how care operates in a facility. Then work on becoming a Nursing Home Adminstrator to understand the "biz".
I think they need full time onboard medical staff. That's the point. It's not a campus you can organize for teens.
I know a CEO of a senior care business - maybe you could talk to him 🤷♀️
Thank you lady ❤
Costs on senior care facilities have increased drastically, don’t try this unless you really know what you’re doing. Don’t know where this success rate come from
Laundromats are high maintenance and you better be handy yourself because it's hard to find repairmen
I assume laundromats usually have plumbing issues. Plumbers are hard to find?
@@thehawk5141 it's not just plumbing, the machines themselves need maintenance; mechanical and electrical, and they break down a lot
@@lkd06 very true
I noticed she didn't mention self-serve car washes.
it is almost as good as parking
The delivery services can fail if the economy goes down. People have no money to buy online or anywhere for that matter. The laundromat business is always booming. That's #1 recession proof right there.
True, I opened a workshop that is geared towards logistics vehicles. I made back the capital in 2 and a half months!
I am not from the US, so my English is not that good. But you opened a garage that you rent out to logistic vehicles, is that what you mean? And how did they find your location? Thankk you and great for you!
@@biancaol6968 I mean I opened a workshop to provide logistics vehicles maintenance such as Mercedes Sprinter, Peugeot Expert, Ford Transit.
Senior care seems like it would be insanely prone to lawsuits though. I can see a million ways from Sunday how that could become a severe liability.
Good to know
finding ebook called Hidden Manifestation by Oliver Mercer should be your top priority, even if it's the last thing you do in life
Are you a bot
Love these ideas, love you, thank you! 🙏🏽
People have an emotional attachment to stuff they don’t need
You're the man Codie!
Senior centers. Yup. . People are living longer...
Hun?
Imo Boomers are... Gen X and Millenials are stressing into early graves
I think 4 and 6. Delivery with van. Anything bigger is hard to maintain
Another banger from Codie hell yeah
Good information
Out of the 6, 3 have to do with Real Estate. In all 3 of these cases, there are two (2) elements that are absolutely essential for them to be successful. On top of that, each of these three have their own quirks that makes them successful. How do I know ? I know because I am in all three areas and other RE areas as well.
What 2 elements?
That the $64,000 question that I charge $25,000 for the answer.
@@streamingrevenue3053 hahaha I can get the correct answer from a spiritual consultant for $50. Thanks though
Thank you for sharing 😊
With success rates like that, it makes it very tempting to dump your money into one of them hoping it does turn out successful, but I think we’re only looking at it from a very positive lense and missing the hardships one would encounter and how to actually make it successful
The video has 30 secs and a different objective.
Life isn't easy.
Transportation is a tough game though!
Lots of freight brokerages are failing. There is too much capacity in the market.
Even new transportation companies that are asset based are going belly up. You also need licensing and to cover transportation costs (fuel + drivers).
You need to know if you're going to do drayage, interstate, long hauls, etc.
Do not get into transportation without having some lanes for you. Otherwise you might sit with empty backhaul lanes.
A woman with 43 years in her own tax business said pizza joints always do great🤷♂️
I love all these how to choose which one ❤🎉
People shouldn’t just listen to random people advice online
How do you know what locations you are able to place a vending machine? Are there permits involved?
loans and rentals are the root cause of almost every problem on Earth.
And are by definition not businesses.
Having property is not a business, by definition, its just rent
Thanks for sharing
Nope. Only if you are looking through an extremely short lense...
Amazon business I disagree with.
Amazon can run stats and drop a whole company like nothing in a heartbeat and if that’s all you have your investment devoted t towards, you can be in bad luck very quickly.
Grifting is a business that rarely fails.
The elder care is a scam. They can apply a medical lien on your home. What a joke. It's evil.
Just ask trump.
What's grifting?
Obiden.*
@@maasp8489
@@Ashley-id2cbCon-Artist.
So...put in vending and washing machines in your senior self storage studios!🎉😂
The median grant to a senior center is ……. $1000. Don’t let the fancy headlines fool you.
Cemetery at 20k a plot image what 30 acres of land could sell for as individual cemetery plots!!
SENIOR CARE shouldn't be a business! We take care of our seniors at home because they raised us ❤
If I as a daughter am getting all my parents assets then should I not take care of them ??!
American society is regressive !
Agreed. But that isn’t the prevailing American mentality. Caring for elderly and children is seen as a degrading nuisance that many people like to pawn off to others. I blame feminism.
Not everyone can. Many adult children still work full time. Some seniors require complex medical care that can't be managed daily except by professionals. To stay at home with family = often the ideal, but is not always possible.
Housing shouldnt be a business either, but hey people think they can out compete billionaires and investment funds in buying all the houses
In Belgium are transport companies the industry with the one of the highest brankruptcy rate
Here’s some more
Salon
Painting
Roofing
Sports center with membership
Cafe
Internet cafe, remember those?
Every business has its downside you can make anything work well if you’re committed and prepared
Pést control
Fantastic advice ❤❤
Congratulations! 👶
Ughh laundry mats were on another video
2 center care centers closed in my town this uear
Love it.
Please expand on why you think they're not scalable?
She said not easily
Yea I think she meant the units themselves. In other words you can scale by buying more atms but once a single machine in up and running putting more $$ in is not going to make more people use your machine
The vending machines reach a saturation point per location. So if you have 5 vending machines you fill, you'll do better at the location with 2 or 3 choices but if you stick 5 machines, 5 choices in one location you'll do less because your cost to stock and machines will increase while your revenue will stagnate. You could corner the market on one type of product and spread them around but some places come down to avalability of free space. A few machines in one location is ok but many machines in one location is cramped. (Unless you are in a vending society like japan that can sell just about everything in a room full of a maze of vending machines...) So it doesn't scale easily. I think you'd be better off with a 7/11 party store than scaling vending machines.
@@BurninGems This is why vending machines in Japan have gotten so creative. No two vending machines have the exact same thing. But the varieties of what's in them are endless.
Great answer, thank you@@BurninGems
In the Los Angeles area, Laundromats are very expensive to start. You're looking at around $500k.