Zx2guy19

I'll take both. Perfect for rentals.

I am asshole clinched nervous.

Thanks man, I do appreciate the suggestion. There are a lot of idiots who think with money they can do whatever they want...I'm being realistic and taking the lack of knowledge in consideration for my decision.

Tried to find it on iTunes (to buy) and no luck there. DAMN

No shit it happens, but I'd have a hard time believe it happened at a workplace. If it truly did (and again, I think it was his perception, not reality), they violated some serious workplace discrimination laws. I realize profiling goes on...welcome to 2016, right? But a company to only pull out 'blacks' and minority races, that doesn't seem plausible. Surely they wouldn't be that dumb.

Umm...if you weren't referring to scrutinizing people of a certain ethnicity, why was it even brought up? Get real man, you flat out said they were pulling aside certain races.

I bet you're voting for Trump. :gabe:

I highly, HIGHLY doubt this is true, considering this would violate nearly every employment and discrimination law ever created. This may have been your 2 minute view, but again, I HIGHLY doubt there is any truth to this at all.

Thanks for the returned PM.

And to address the lack of experience: 1) I am REQUIRED to hire a director to run the day to day operations 2) I understand how to run a business. Is it different? ABSOLUTELY. I'm not dumb enough to think that probably even 50% of what I know will translate 3) Businesses usually fail for 2 reasons: 1- the product or service they're offering isn't needed (think TV repair) 2- mismanagement of either money or people. I believe I am able to overcome those- the service is needed, I'll have a line of credit if needed, and I am able to manage people. 4) The franchise has a vested interest in my success. The more I make, the more they make. I don't want to depend on them, but I'm sure when I have a question, I can make a few calls.

All 3 in Columbus are through existing Cinci franchisees, and there are only 9 people total. So a third of them are. I agree- I certainly haven't written a check just because I like the numbers. I'll make sure I look at this as a whole, from all angles. There's a reason we're meeting Friday. Any chance you could connect me with the person who owns a few? I don't need more...sometimes I don't even want more. I want different. It's that simple. What I make now gives me a great life. But half of how I'm getting it isn't satisfying. It is not Goddard. It is All About Kids. It's still a possibility. I met with an apartment broker last night for dinner and will be exploring my options. There are other daycare's for sale in Columbus...one that has my interest is 800k, but you don't own the building. It is NOT a franchise...what is everyone's thought on that?

I don't stay doing what I'm doing because I'm borderline miserable. And making the move to what I really want to do only gets harder as I get older and have kids. The daycare's approximately net income is 250k a year. You are REQUIRED to hire a director to run the day to day. It's not even an option. I'd be buying an existing complex- I have no desire (or funds, knowledge, etc.) to build new. This will sound dumb...but I don't need to make a ton of money. I'd be happy making the EXACT money I do now without having to work a corporate job. That's tough though. This isn't a huge franchise. 13 in Cincinnati, 3 in Columbus. What they bring to the table is the support of opening...at the end of the day, day cares are extremely tough to open because of all the licenses, etc. They help coordinate and maintain all of those. Could I do it myself? Sure, probably. But it takes a lot of the questions out and I'm not an expert on day cares...they are. I am going to get more information on Friday, but please, keep the questions coming so I'm fully prepared to ask. I really appreciate that! I don't want to share the franchisee just yet because I don't have a ton of knowledge. This whole thing could be a big cluster fuck Friday and I'll walk. They have been in business over 20 years with 15 locations in Ohio (just coming into Columbus). I am going to get all the other info shortly, but to your point, there shouldn't a ton of issues from the start since it's all a new build. JP- the reason it's so expensive is because I own the building. I could buy an existing daycare in Columbus right now for 800k, but I'll lease the building until the end of time. The goal of owning the land and building is that I'll (in theory) have a huge appreciation of the building and land. Especially with the two sites they have identified. That alone is probably $1M of the $2M-3M dollar deal. And to clarify, it's not necessarily a daycare, it's a "learning center", that has computers, etc. They deal with kids all the way up to 12 years old. For the record, I started my career at a "small" company (1k associates). I DID enjoy that more, but I'm losing my passion for HR, not just working for a corporate company. I do think I'd be happier in a sales type role (account manager, etc.) but don't want to make a move, and then a move, and then a move. I want to minimize impact. I know nothing about day cares...that's why I want to go to franchise. They have the knowledge.

Do you consider being a franchise owner self employed? Serious question...I'm not even sure how that's viewed from other business owners.

Ha...dick. ...I'm certainly not looking for a Scooby Snack...just trying to show I'm not some Joe Blow fuck boy that has a wild idea with nothing to back it up. I am meeting with the franchise Friday to review all those details. I had an hour conference call with initial information and decided to move forward. I am meeting with an apartment complex broker this evening...shit's moving quick. To be clear, there would be no rentals to come after because they'd be sold to fund the 400k initial investment. Only asset I'd have is my personal house, and the franchise being in an LLC would cover that (and I'd keep my hefty insurance). Again, that's where the insurance comes into play. I'm not the only landlord that has chosen to keep their rentals out of an LLC...that opens up a whole new can of worms that most people aren't aware of, and most LLC's can be penetrated anyway. I carry enough insurance to cover my life, 3 times, ha!

In 6 years I've went from 9.50 an hour at Family Video to over 150k a year in gross income, all from the ground up. I'm pretty proud of that and realize I'm not a millionaire, but I'm sitting on over 600k worth of real estate and nearly 300k of it being equity. Not bad for starting at 21. I NET around 45k a year on my rentals (gross is over 70k), and as it stands today, I could not pay all my bills with just that because I have so many bills from the rentals...make sense? I have 4 mortgages, credit lines, etc. I'd pay all that off and still have 250k left, which is why I'd have to sell them. The franchise requires 2 acres of land and a 10,000 sq ft build out. It's approved for 180 kids and has an estimated gross income of $1.345M per year and 250k net. Part of the $2M requirement (400k out of pocket) is purchasing the land and the building- I'd own that. I have access to all 15 other franchise's income statements, so it's the real deal. I have the choice of 2 locations, Westerville or New Albany. One part of the daycare piece I forgot was that it takes 12 months for it to be built, zoned, etc., and they recommend continuing to work for another 12 months because it takes 10 months for it to turn profitable post-open. So I'm looking at 2 years before I can walk away. Still, I'm fine with that. Keep the questions coming dude...I WANT you to make me think differently. I don't take it as being a douche. I agree, the longer I wait, the harder this will be. If I fail, I still have a degree I could fall back on (and great experience) and great real estate knowledge. I mentioned the numbers on the daycare above...it's pretty insane what people pay. It's the #1 growing service industry in the US and is basically technology replacement proof- what will ever replace it, especially as more and more families have both parents working? PS- I do not LLC my rentals...there's a long waging war in the landlord world. I carry a HEFTY amount of insurance on myself in the case of an emergency, but I've chosen to keep them out of an LLC.

Thanks

The rental market will always be strong...think about it: even when interest rates are at an all time low, people are still renting (aka, not buying). There will ALWAYS be renters. I appreciate the insight. Not to sound like a douche, but I hope that what I've accomplished in the 6 years since I graduated college shows how motivated I am. Taking away my security net only pushes me further. Yeah man, I got quite a bit more at the new company too, but it means nothing to me because I still can't help but feel trapped. I'm lucky enough to have the insurance part covered. My wife doesn't make enough to even pay 1 of our mortgages (I don't mean that as an ass), so I can't count on that, but the insurance would be covered. Thanks Clay, I'd love to hear your input. Love the quote too, ha!

Thanks man...yeah, I'm not too worried with the fixing things, etc. I do that crap now WITH a full time job. The rental market in Columbus is, and has been for awhile now, very strong. I was rehabbing a house the past few weeks and had people stop without a sign even on asking if I was going to be renting it. In the end, I never even had to put it "on the market", it rented before (thanks Turbs). If I had to be honest, I'm leaning more towards the daycare. I honestly think with a franchise model, there will be less headaches. Sure, long hours and different work but I'm okay with that. Between my job now and the rentals I've been working 60-65 hour weeks for 3+ years. Doesn't bug me (now at least).

I think you are asking for the same reason I am. :gabe:

Yes, the title is supposed to be funny because I'm asking a group of people I barely know to provide life guidance. But hey, what can I say...I like some of you. Looking for advice on the biggest decision I'll make to this point in my life. Quick info: 26 years old, married with no kids (2 years out) 6 years of HR experience with a BA in HR HR manager at a Fortune 500 here in Columbus Own and operate 7 'rentals on the side' For the past 3-4 years, I've been unhappy with the corporate world. I know a lot of people are, but something just doesn't work in my mind with it. For the longest time, I thought rentals were my "out", and that I'd eventually invest big into that (I don't even do 401k because I invest in them so much) and it would be my early retirement plan. The last year has been bad...I've been unhappy at my previous job and switched jobs in Feb. and I'm not exactly shit giddy here either. I'm good at what I do and have a very fast career path (probably one of the youngest HR manager's at a company this size in Ohio), but none of that matters if I'm unhappy. Over the last few weeks, I've been REALLY focusing on 2 things: Buying an apartment complex...focusing on the $1-2M/30-50 unit range OR Buying a franchised daycare...$3M investment The numbers on both investments work...with the apartment, I could probably keep a rental or two.If I sold all my rentals, I could walk with around 250k+ profit as I've invested well in Columbus at the lowest points of the economy and my equity has grown tremendously with the bounce back of the real estate here. My wife and friends think I'm crazy to walk from what I make now in HR+rentals to 'blow it all up' and sell everything and leave my job (it'd still be 12 months before anything was finalized...this stuff takes serious time), but I can't help but think, now is the time...young, no kids and enough time to make a mistake if it does happen. I have so much knowledge in real estate that at the very worst case, I have to start all over and use my knowledge to do it even better. With a people management background (HR) and business experience (rentals), I honestly feel prepared for either one. For those of you who have experienced something like this...both owning a franchise/business or walking away from a corporate job to do something you're passionate about...what is your experience? Are you able to even afford internet to respond to this? Ha. PS: I'd have insurance through my wife, so no worries there. Thanks in advance, mysterious car forum 'friends'.

Got it, thanks!!

Reminder again of who that is? Same as above...refresher please?

I completely agree- the root cause here is not a gun. I mentioned I don't have a whole lot to add to this specific conversation, but again, it has always stuck in my mind how easy it was for me to get a gun.

I'll take it...ours shit the bed last year (all the lights no longer work). Worst case, this one is in the same boat.

I don't have a whole to add to this, but my thoughts: I purchased a gun about 3 years ago and it took about 10 minutes to do my background check. 6 years ago, I had an emotional meltdown after I graduated college and had to go on heavy meds, see counselors, etc. It lasted about 1 year. I had suicidal thoughts, etc. Not one of those things came back on a background check and I was EASILY able to purchase a gun (multiple now). Depression and bi-polar run in my family, and to that point, I was the only one who didn't suffer from it. Both my parents, my sisters, my grandparents...all had it. Obviously, that isn't the only way for gun safety, but it has always been something that stuck out to me. I don't have a solution to this, but it's getting out of control. When this is the norm, there is a serious fucking problem. I'm sure you all agree with that. For the record, I haven't experienced an ounce of depression in almost 4.5 years. I chalk it up to improving my health, but that's for a whole other discussion.