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

BigPower

PARKED
Sep 14, 2017
2
0
30
all over the place
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?
 
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Process

Silver Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
Jul 19, 2017
273
600
Solving Pain
I suggest you take about $15 of those millions and plop yourself somewhere cozy and read TMFL or Unscripted .

14473-9c8a12146229553acff972ca6efa5b98.jpg
 

Duane

Silver Contributor
FASTLANE INSIDER
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Speedway Pass
Jul 23, 2015
339
964
29
Lakeland FL
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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ZCP

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Speedway Pass
Oct 22, 2010
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Woodstock, GA
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....
 

MJ DeMarco

I followed the science; all I found was money.
Staff member
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Speedway Pass
Jul 23, 2007
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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.
 

RobD88

Bronze Contributor
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Speedway Pass
Nov 20, 2017
196
489
Missouri
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.

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.
 
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papi016

Bronze Contributor
Read Unscripted!
Speedway Pass
Jun 16, 2017
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Marlin, Tx
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
 

GetRichODT

Contributor
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Speedway Pass
Feb 8, 2015
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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)

Kicking themselves why?
 

GetRichODT

Contributor
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Speedway Pass
Feb 8, 2015
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Given the ridiculously low cap rates we've seen over the past few years, with interest rates increasing and most FNMA commercial loans hitting their 10 year balloon payments, values will almost certainly drop over the next 5 years. Owners won't be able to refinance and still cash flow, so they'll want to sell, and with cap rates almost certainly going up, they will have to sell for a loss (or at least bring cash to the table) to get rid of many of these properties.

Who would want to buy them in that scenario? Seems the new buyer would have the same cash flow issues, no?
 
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