November 15, 2010
-
the little business man in me.
and so it begins. it's been an interesting and educational weekend. an old friend and me went out of town for land hunting.
we've talked about starting a small business together for years now and only 'till this past weekend the opportunity seems to present its possibility. to start a business we need a good financial standing and for that we need to put our heads together and start doing something instead of keep wishing and hoping for something we want. our plan is to purchase a land or two and then resell them for a small profit. if all goes well, we may continue doing so and with the profit we make we could then start building that little business we've always talked about, whatever that may turned out to be.
we visited 5 different locations and have picked out our favorites and talked about the pros and cons if we decide to go ahead with the whole thing. we would have another meeting this coming weekend with the agent to ask more questions, and to do some bargaining in terms of sales conditions before we decide on whether or not to purchase one and/or which one to purchase.
we both may not have much but have saved little by little each year. we want to take it one step further by making our savings work to generate more savings. we are at that age phase where saving and generating money become a lot more important aspect of life for securing our future.
we have little experience in this (well, I have none) and so rather nervous with the idea of spending a large chunk of our savings for something that may have a long term wait before it gives any return.
so that's what's been occupying my mind for the past week and for many weeks to come, I suspect. I won’t know what to decide for our next move until after we have that second meeting with the agent. I’m keeping my fingers crossed.
Comments (5)
best of luck on your new endeavor. I wish I knew more about land investment, but in our area there isn't much land left so everyone is into real estate investment instead.
it can be kind of scary to start business, good for you planning to take the first step. Land tend to be longer term (years) in terms of investment sometimes? I guess location and timing can be critical?
@stevew918 - @AzureRecollections - currently, this investment plan has been postponed for few reasons - lack of choices of locations available that suit our interests, price disagreement with the agent, and lack of funding (well, this is just on my part, not my friend's).
so you did buy the land.
@vsan79 - nope. did not. the plan fell through. but she did buy a unit for herself.