Hi Fastlaners,
This is my first post, I just registered but I read threads on the forum for about 2 months.
I discovered the website while reading ''The millionaire Fastlane '' . I think it is one of the best business book I have read.
My name is Vincent, I live in Quebec, Canada (My main language is french so I may make some english mistakes) and I'm 17 years old.
I have some money sitting in my bank account (around 10k$). My money come from a summer of work at a hotel. I will also receive a 50k$ inheritance in 4 months (I need to be 18). So in 4 months (at my birthday in April) I will have around 60k$ and I want to invest it to create a business or some passive income.
I did some research for real estate investing, but the market in my area is not very good at the moment.
Recently I saw an article on a website about vending machines. I was curious and decided to see how much it could cost to buy some. I saw a good opportunity in my area : 29 used vending machines for 11,6k$ (400$ each) all in perfect condition and with a supplier for the products. These used machine are normally worth around 1k each. With the supplier I can buy each item for 1$ and sell it for 2$. I think it could be a good investment. If I dont want to run 29 machine, I can sell some separetly for around 1k$ or I could rent them for a monthly payment.
With only 2 sales/day/machine I could make around 21k$ profit/year. (2 sales x 1$ profit/sales x 365 days x 29 machines = 21 170$)
I will try to negociate to maybe buy half of them at the beggining and see how it goes.
Do you think it is a good investment? Do you have vending machine experiences?
Vincent
This is my first post, I just registered but I read threads on the forum for about 2 months.
I discovered the website while reading ''The millionaire Fastlane '' . I think it is one of the best business book I have read.
My name is Vincent, I live in Quebec, Canada (My main language is french so I may make some english mistakes) and I'm 17 years old.
I have some money sitting in my bank account (around 10k$). My money come from a summer of work at a hotel. I will also receive a 50k$ inheritance in 4 months (I need to be 18). So in 4 months (at my birthday in April) I will have around 60k$ and I want to invest it to create a business or some passive income.
I did some research for real estate investing, but the market in my area is not very good at the moment.
Recently I saw an article on a website about vending machines. I was curious and decided to see how much it could cost to buy some. I saw a good opportunity in my area : 29 used vending machines for 11,6k$ (400$ each) all in perfect condition and with a supplier for the products. These used machine are normally worth around 1k each. With the supplier I can buy each item for 1$ and sell it for 2$. I think it could be a good investment. If I dont want to run 29 machine, I can sell some separetly for around 1k$ or I could rent them for a monthly payment.
With only 2 sales/day/machine I could make around 21k$ profit/year. (2 sales x 1$ profit/sales x 365 days x 29 machines = 21 170$)
I will try to negociate to maybe buy half of them at the beggining and see how it goes.
Do you think it is a good investment? Do you have vending machine experiences?
Vincent
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