Comments on: If someone gave you $300,000 to start your own business, what business would you start?

By: experience in business

experience in business — Sat, 06 Mar 2010 04:00:59 +0000

I would start a rental property business. I have purchased millions in property, (buildings with apartments and a Resort on a lake with cottages and an inn), all with NO MONEY DOWN so if I had $300,000 I would do the same but quicker! How exactly I would recommend for you to do this depends upon your own unique situation. Things like your employment status and income, current debt, age, credit rating and where you live would all impact the way that I would do it, but the most important thing in buying rental property is that you must earn a positive cash flow every month. (In other words, after you take in your rent and pay your bills – utilities, property taxes, insurance, mortgage, and maintenance you should have money left over for yourself). Remember, Cash is King. Be extremely cautious with spending any of the $300,000 and be sure that each time you choose to invest that money, it will be paying you back. In fact, specifically I would invest the $300,000 in a term deposit paying interest at the bank and get a line of credit from the bank for $300,000 and then use that to invest in the properties. Good luck!
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My source is my own personal experience buying and managing real estate.

By: john p

john p — Sat, 06 Mar 2010 03:24:59 +0000

I'd start a "get rich in real estate" scam where I rehash useless information on books, tapes, dvds, & sell a kit for $59.99 to the several million suckers who want to get rich quick & easy. The fact is the get rich quick wannabes will make me rich.
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By: texicangirl

texicangirl — Sat, 06 Mar 2010 02:47:59 +0000

Right here where I live there are very few things for kids to do so you see allot of little gang problems. The one tiny little amusement park we had moved out of town because of some dumb fight with the city. So I would do something to interest the kids/teenagers. I don’t know like a combination of a movie place with skateboard park, miniature golf, go carts, that type of thing. I know $300,000 is not enough for a real amusement park but maybe partner with somebody to get real rides and stuff would be cool.

I always say if I were to win millions in the lottery I would build a super awesome amusement park. But until that happens, I’ll just dream on…….
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By: $so fresh so clean$

$so fresh so clean$ — Sat, 06 Mar 2010 02:35:59 +0000

I would buy an apartment building, renovate it, and rent it out.
$500-rent x 20 tenants= a cool $10,000 monthly income
In 3 years, I would have made that money back not counting my investments I would have already made with my income.
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By: Stephanie

Stephanie — Sat, 06 Mar 2010 02:01:59 +0000

I'd either have to start a dollhouse/miniature store or flip houses
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By: anissia

anissia — Sat, 06 Mar 2010 01:52:59 +0000

An alpaca farm with a kniiting an yarn store attached.
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By: Kayla

Kayla — Sat, 06 Mar 2010 01:06:59 +0000

Honestly i would love to start a bowling alley. I love bowling and a lot of people choose to go bowling on the weekend, its fun passtime to do with your friends AND family. imagine all the money you would be getting from it...
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By: winston1smith

winston1smith — Sat, 06 Mar 2010 00:40:59 +0000

Just right now? I really have no idea.
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By: the d

the d — Sat, 06 Mar 2010 00:04:59 +0000

buy a duplex or triplex,

Why, will hold it’s value and get a monthly income from it.

Get good tenenats and it could be a great return
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By: Cysteine

Cysteine — Fri, 05 Mar 2010 23:37:59 +0000

If it was given, then screw the business. I would put the 300k into a CD. That's 15,000+ a year in interest to suppliment my income. And 300k saved for retirement.
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