NoMoreTreadmill
New Contributor
- Joined
- Jul 18, 2018
- Messages
- 3
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User Power: 33%
Hello. A little about me...
I am in my mid-50s, college educated and have been in the IT industry for over 35 years. I make a decent 6-figure living and have a primary residence as well as a second home in FL that rents well for the first four months of the year. Both homes are mortgaged. My primary home has some decent equity and I have a pretty small retirement account (started saving way too late). I am burned out. I want off the treadmill.
I would like to find an existing business to buy that I could operate absentee; that has existing employees and a manager in place that keep the place running. Without selling my primary residence I only have about $50k to invest. If I sell my primary residence, which I am willing to do, I could have another $100-200k.
Are there any decent absentee owner businesses that could be purchased with as little as 50k down? 100k? 200k?
What kind of income could an absentee owner expect from such a business?
Thanks for reading and any serious input.
I am in my mid-50s, college educated and have been in the IT industry for over 35 years. I make a decent 6-figure living and have a primary residence as well as a second home in FL that rents well for the first four months of the year. Both homes are mortgaged. My primary home has some decent equity and I have a pretty small retirement account (started saving way too late). I am burned out. I want off the treadmill.
I would like to find an existing business to buy that I could operate absentee; that has existing employees and a manager in place that keep the place running. Without selling my primary residence I only have about $50k to invest. If I sell my primary residence, which I am willing to do, I could have another $100-200k.
Are there any decent absentee owner businesses that could be purchased with as little as 50k down? 100k? 200k?
What kind of income could an absentee owner expect from such a business?
Thanks for reading and any serious input.
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