My husband has landed a great job and we’ll now have the opportunity to start businesses like we’ve been wanting to. We want to start multiple businesses and eventually be able to run our businesses and travel the world. We were thinking buying lots of land and renting out trailers or tiny houses as one option. Would that be a good secure idea once we were able to get multiple places?
Anonymous
good idea. another would be animal boarding. lots of people cant afford land so they board their horses and such at other peoples stables. they can be required to take care of them or for a higher fee you can offer to feed and water them, etc.
Judy
no. Start ONE business and develop it until it's successful for at least a year or so, then maybe think about a second one. Have you written a business plan yet for the rental property idea?
?
You're going to take this hard, but if you need to ask (here, especially) just don't. Successful business take knowledge, effort and expertise. And LOTS of time. Shooting arrows into the air hoping one of them hits a rabbit when it comes down is a good way to lose a mountain of cash real fast.
ibu guru
You'll have to find vacant land which is properly zoned, get permits to build tiny houses or pads for mobile homes/RVs. You'd likely be better off buying an existing trailer park than trying to get through the planning & zoning, the permitting process, etc, if you have no experience with it. Resort-style RV parks require expensive facilities to attract the more affluent motor home vacationers, and such parks are heavily dependent on economic cycles. Mobile home parks are populated largely with very low income people, and rentals are unstable. You need to take these things into consideration - not just the entry-cost of your investment, which will be far in excess of buying, say, a 4-unit residential income property. If you have no experience managing such properties, it's a tough business to learn.
Richard
A friend of mine made quite a bit of profit by buying crappy places, fixing them up at a relatively low cost, and selling them as nice luxurious houses.