Investment Ideas


#1

I am thinking about putting a small amount of my profit into an investment to make some extra money. Should I invest my money into mutual funds or something like that? Is there anything you suggest that has worked for you? Anyone have any suggestions?


#2

my motto is invest in yourself. I had a roth IRA for 3 years and the cost to purchase the various investments while there was no market growth resulted in me actually losing money. Stocks, etc. are truly a long term approach unless you just get lucky with another Microsoft or something, and I’ve got no guarantee to live that long. A shingle hoist for example doubles my money NOW. Invest in your business, roofing doesn’t disappear, the worst thing that can happen is if the market gets real tight you have the equipment to bang it out, do it right, and still be competitive, or you can sell it and run. Thats just my opinion. I’m not rich.


#3

I agree with S&G,

Invest in what you know. Your business.

New and well maintained equipment equals less downtime and more profit.
With that profit you can buy another truck and hire help. Hopefully make more money.
With that you can buy advertising to create demand and raise your prices.
etc. etc.

Or you can support the lifestyles of the rich and famous on Wall St. :slight_smile:


#4

real estate…buy it up now


#5

Real Estate, right, right, right.

Bought a home 4.5 years ago for $165K. Put $15,000 into it prior to moving out 1.5 years ago and our offers have been $165K-185K. Other than a tax shelter (own two homes for 1.5 years) it’s been the worse thing I’ve boughten in my entire life.

The other day I looked at my monthly bank statements and figured since the F250 was paid off and the Excursion was written off two years ago it was time for another “work” vehicle. Picked up a F350 dually crew cab 4x4 for tear offs when towing the dump trailer (bumper pull). Been too busy lately but figured to go one step further and get another nice write off and pick up a fifth wheel dump trailer, got until Dec 31!

Would rather give my hard earned money to either a bank or Ford than to the IRS. Also bought a lap top finally and one of these will buy my own version of Xactimate. Even thought about getting a few dump trailers to run for other roofers I know. Easy money when it can be made from the cab of a fully loaded pick up!!!

So another vote for investing in the business.

This year went from one phone book market to three including the Twin Cities which has resulted in most calls comming from North Minneapolis, don’t even call them back anymore. Don’t want to work were you live sorry dude. Did get one job from that book though and it was a mile from my house so that will pay for a couple more years at the least. The South Metro book works the best for me since that’s were all my builders and customers are from. The South Metro book just hit the route and it’s perfect time since most homes in that area just got hit with hail in August. Found out most of my phone book calls come when there fresh in peoples houses. Seems when they put them away they put the newest book by the phone and open that book when it’s time to find a roofer.


#6

[quote=“dougger222”]Real Estate, right, right, right.

Bought a home 4.5 years ago for $165K. Put $15,000 into it prior to moving out 1.5 years ago and our offers have been $165K-185K. Other than a tax shelter (own two homes for 1.5 years) it’s been the worse thing I’ve boughten in my entire life.

The other day I looked at my monthly bank statements and figured since the F250 was paid off and the Excursion was written off two years ago it was time for another “work” vehicle. Picked up a F350 dually crew cab 4x4 for tear offs when towing the dump trailer (bumper pull). Been too busy lately but figured to go one step further and get another nice write off and pick up a fifth wheel dump trailer, got until Dec 31!

Would rather give my hard earned money to either a bank or Ford than to the IRS. Also bought a lap top finally and one of these will buy my own version of Xactimate. Even thought about getting a few dump trailers to run for other roofers I know. Easy money when it can be made from the cab of a fully loaded pick up!!!

So another vote for investing in the business.

This year went from one phone book market to three including the Twin Cities which has resulted in most calls comming from North Minneapolis, don’t even call them back anymore. Don’t want to work were you live sorry dude. Did get one job from that book though and it was a mile from my house so that will pay for a couple more years at the least. The South Metro book works the best for me since that’s were all my builders and customers are from. The South Metro book just hit the route and it’s perfect time since most homes in that area just got hit with hail in August. Found out most of my phone book calls come when there fresh in peoples houses. Seems when they put them away they put the newest book by the phone and open that book when it’s time to find a roofer.[/quote]

Sounds like you got shafted on your real estate purchase buddy. You do know that home sales, foreclosures, property values, and everything else you need to know to make money with real estate is all public information, right? Property values are declining in my area, i found a property “for sale” that was amidst foreclosure from public records, and I did damn fine. Better than roofing. Its no secret. You hit the tail end of an economical boom and theres plenty of people that were trying to keep up with the Jones’ but were too dumb to stay within their means. You probably had an interest only adjustable rate mortgage if you couldnt turn a profit in 3 years, and got jacked on the house. You need to study. Learn the phrase “curb appeal.” Buy the worst looking home in the best neighborhood. Increase its curb appeal. Buy low sell high. Its like any business. I know I sound mean, but this is constuctive criticism depending on your attitude. When I looked at my house there was a Harley Davidson in the kitchen. But it had a fantastic plumbing and electrical system and bad landscaping and paint. Think about it.


#7

I have just done cd’s and i have an ira. Nothing exciting here.


#8

What is the interest rate on cd’s right now Gtp?


#9

About 4.5 percent. NOt much but better than a kick in the groin?