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Passive income

Discussion in 'General' started by DrA5, Jul 22, 2020.

  1. skidooboy

    skidooboy supermotojunkie

    they (farmer/hunter) work hand in hand with each other. if the ground is completely cleared, and you have no woodland's borders etc... it wouldnt be too inviting for hunters but, if you have wooded areas, or fence rows with viewing access of feeding, bedding, or watering areas, it is pretty desirable.
     
  2. zertrider

    zertrider Waiting for snow. Or sun.

    Have 50acres myself with 37 workable. I share crop it 50/50. That way I am classified as a farmer and get the tax advantages. Can write off a bunch of stuff around here because of that.
    Have had a few guys hunt the small bush area. Usually for a small bottle of whiskey and maybe some pepperettes
     
  3. motion

    motion Nihilistic Member

    Buy a shack in a tourist town with "personality". Rent it out for $129 a night on VRBO. Have a cleaning service take care of it.
     
  4. ClemsonsR6

    ClemsonsR6 Well-Known Member

    Interesting....my property is lined with trees and backs up to some large tracts. There is also a irritation pond in the middle of the property, so it is possible there is deer tracks. I'll have to reach out to the farmer and talk to him. Hmmmm
     
  5. auminer

    auminer Renaissance Redneck

    :crackup::crackup:

    Is it really that bad?
     
  6. redtailracing

    redtailracing gone tuna fishin'

    As laughable as it may be, I actually did this with some success a few years ago when it first started becoming a known thing. Didn't get in when it was pennies per coin but I believe it was around $200 when I started. Biggest problem was the transaction times (3-5 days if I remember correctly) and the fact that, if I remember correctly, when you sold you got the value the day the transaction processed, not the value of the day you initiated it. Like I said, I had some success with it but it was very time consuming to manage and profit was not a sure thing. If I had more money to invest and play with, the margins would have been higher and probably more worth the effort but I was young and didn't have much to invest. I could count on my job paying a set amount so after a year or so, I got tired of it and just let the money sit for awhile. Figured if it tanked, I had made enough not to miss it too bad but if ever took off like some people predicted, I'd be happy I left it. Fast forward a few years and some shit with China caused it to suddenly start skyrocketing. I had completely forgotten about it to be honest but a facebook post or something about prices going bananas reminded me. I watched it for a couple of weeks and then sold when I thought it was peaking. Made a few more thousand. However, waiting an additional month or 2 would have netted me about $20k more. Oh well. Hindsights 20/20. At least I made something.
     
  7. wiggeywackyo

    wiggeywackyo Well-Known Member

    I have an idea. Get $10 million and put it into a savings account. Boom. $50k a year.

    Truth is, there is almost no such thing as passive income. Being a landlord is hard work as has already been said. I rent out the first floor in a very desirable and have found that the onus is on you to find good tenants. Check out biggerpockets.com for some good advice and insight.
     
    Phl218, Alex_V and YamahaRick like this.
  8. kangasj

    kangasj Banned

    LOL.....it's a hard world. I don't know why he should take a hit on a home that was part of his retirement strategy to make life easier for his daughter. I would guess he has taken very good care of her for her whole life. After a while a kid has go to out and start making it on their own.
     
  9. kangasj

    kangasj Banned

    Pr0bably got a mosquito in it....:crackup:
     
  10. GRH

    GRH Well-Known Member

    Great hunting around my place but hunting rights are uncommon, I know no one in the area that has that arrangement, I can't think of any advantage in doing it unless someone is completely absent from the property they own.
     
  11. SuddenBraking

    SuddenBraking The Iron Price

    Fairly sure his wife cheated on him with his brother in my rental property :eek:
     
  12. auminer

    auminer Renaissance Redneck

    ♫♪♪ I'm looking for a lover who won't blow my brother
    She's soooooo hard to find.
    ♫♪♪
     
    SuddenBraking likes this.
  13. fastfreddie

    fastfreddie Midnight Oil Garage

    Geese and deer will definitely make use of an open field. Farming seasons and hunting seasons don't overlap, that I'm aware of. I can't imagine making much off hunters, tho'.

    In terms of hiring off-season "exterminators", depending on the crop, deer can be a legitimate problem and a farmer might be more than happy to pay a sharpshooter for their services. If ya got nothin' better to do, sittin' around and getting paid anything to participate in an opportunity that uses your skills might be a nice way to A) spend the day and/or B) put dinner on the table.
     
  14. Alex_V

    Alex_V Dump the diesel

    Renting, long term or short, is still work. We have both, and its definitely not "passive" income in my book.
     
  15. britx303

    britx303 Boomstick Butcher…..

    My wife wants to rent out our house we are currently renovating. I own it outright, but I lean more to living in it when we are done. Where we actually live is a small farmette that we have been paying rent for almost 10 years. If I moved to the house and take even half of what I pay in rent and Put it into my TSP, I’d retire at 60 a millionaire plus have my monthly pension from my current job........not holding my breath for either SS or my union pension of 20+ wasted years. But for a current passive income, we’ve thought about the farmer/hunter deal for our upstate new yuck property that’s just sitting making negative profit for me. We’ve considered the turbine lease from the power company up there, but we lose recreational access if we do it, plus it just barely pays the property tax. Never heard anything about cell towers or even had an offer on those. That area could use one if I knew how to go about inquiring about getting one.
     
  16. Bugslayer

    Bugslayer Well-Known Member

    I have both residential and commercial rentals.
    The residential is a duplex, which has spent most of the time with half rented to family (aging parents, struggling sister, daughter going to school) and the other half rented to "real tenants" over the 12 or so years I have owned it. Daughter graduated recently and is now a nurse practitioner and buying a house. I'm selling the duplex this fall. It's been good for helping family out with, but a pain in the ass otherwise.

    The commercial property I rent back to myself as my company facility. So the landlord and the tenant are both assholes, but it works out. When I step away from my company my boys will be running /owning it, but I will still keep the property and charge them rent.

    Then there is the cell tower that sits on the company property. Jumped at the chance when they approached me. $1500 a month, no fuss, no muss.

    0723200850_resized.jpg
     
    britx303 likes this.
  17. britx303

    britx303 Boomstick Butcher…..

    Damn. We were offered 1,500 a year for a turbine on our land.
     
  18. nigel smith

    nigel smith Well-Known Member

    Never, ever rent out a house that you are emotionally invested in! Never! Just say no! Save yourself some time, heartache, and money. Mail me a couple thousand bucks and set the house on fire. You'll still be better off. Did I say don't do it? I meant to say hell fucking no.
     
  19. 2blueYam

    2blueYam Track Day Addict

    Retiring a millionaire isn't what it used to be. $1m would work if you have your house paid off and have lower than average property taxes and cost of living. In other words stay away from the coasts and most cities.
     
  20. britx303

    britx303 Boomstick Butcher…..

    Personally, I just don’t want to deal with people or chancing people tearing up shit, so I’m already against renting it.The only reason I want to pay rent for 3 more years is because our youngest lass only has 3 years of high school left, and don’t want her to have to start all over again. After she graduates is my deciding time on moving and leaving rent/mortgage behind.
     

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