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The Best Set and Forget Business/Investments over long term?

Discussion in 'Ideas, Needs, Concept Feedback' started by BigPower, Feb 14, 2018 at 3:43 AM.

  1. BigPower
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    BigPower PARKED

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    Question:
    I'm looking for your opinion on safe ,long term ,set and forget businesses
    that require little to no 'care taking', are 'easy' to setup and preferably have a quick ROI.

    Money to spend:
    1-3 Million+ USD

    what comes into my mind is something like
    solar farms (if they would be profitable)
    crypto mining farm (if they would be profitable and safe)

    anyone can recommend something with
    -little to no human interference
    -low maintenance

    similar to my suggestions?
     
  2. theag
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    theag Most Aggressive Guy on the Internet on the Planet Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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  3. Process
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    Process Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I suggest you take about $15 of those millions and plop yourself somewhere cozy and read TMFL or Unscripted.

    [​IMG]
     
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  4. Duane
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    Duane Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I wouldn't recommend setting and forgetting any investment, regardless of how passive it is.

    I think solar farms has a lot to improve on, not solid investments as they stand now imo. There are much better options like stocks/commercial property for wealth preservation.

    Read TMF and Unscripted, then read some books on stocks/commercial property and see how you would like to preserve the wealth you've accumulated and also on how you could grow it.
     
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  5. ZCP
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    ZCP Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    How did one acquire the $1M to $3M?
    What are the definitions of 'safe', 'long term', 'set and forget', and 'quick'?

    Easy = treasuries? See the money system threads....
     
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  6. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    Municipal bonds, tax free income for life.
    Single-family homes with a great tenant and great property manager. While that might lower your NOI, the point is not to get rich, but to be perfectly passive and free.
     
  7. RobD88
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    RobD88 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Or multi-family units with same great property manager. Similarly, self-service storage facilities. Unfortunately nothing is truly set it and forget it. Either you or someone you trust has to do some sort of management.

    My personal goal is to build up a similar amount and become a hard money lender to flippers. Decent short term return on investment and if they default, you hold a lein on the property so you get paid one way or another.
     
  8. JScott
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    JScott Platinum Contributor FASTLANE INSIDER Speedway Pass

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    You might want to wait a couple years on this. With cap rates in most primary and secondary markets below 6%, and interest rates on the rise, apartment investors who got in between 2016 and now are going to be kicking themselves in a couple years... (in my opinion)
     
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  9. papi016
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    papi016 Contributor I've Read UNSCRIPTED FASTLANE INSIDER

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    What I recommend:
    1) buy Unscripted by MJ Demarco
    2) skip to Chapter 47
    3) Read rest of the book (if not at least part 4)
    4) Get Started in your Money System
     
  10. GetRichODT
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    GetRichODT New Contributor Read Millionaire Fastlane

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    Kicking themselves why?