Starting a small shop

[john.k]

Ill see your twenty years and raise it 30 ......fifty years of bad decisions.........fortunately I bought some land when it was literally 'dirt cheap' for the business ......then the council got me in their sights and I couldnt use it ......much.........in the meantime that land went from $4000 to $2 million ,and I sold out two years ago..........fifty years of hard work ...pffft....I could have sat on the porch and watched the grass grow,and still had the same money at the end of it.

 

[Ox]

But your yard has looked so much better for it!


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Think Snow Eh!
Ox

 

[Covenant MFG]

Same here but do you think that still works? The world is a lot different than when we were 25 ...

I'm 24 now and it's working decently well so far over here.

 

[EmGo]

I'm 24 now and it's working decently well so far over here.

Cool I'm going to bet you are a lot smarter than I was when I stumbled into this tho ... it'd be hard to be any more naive and still tie your shoes.

 

[???]

What on Earth is "oil/coolant drainage"?


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Think Snow Eh!
Ox

A pipe into the neighbours pool.

 

[john.k]

Tip it on the ground .......contrary to green dogma ,oil is quite beneficial to soil .....in manageable quantities .......there are hundreds of different fungi and bacteria that 'eat' oil..........ever seen the brown sludge you get in diesel ,or even the stinky sludge in your coolant tank.

 

[john.k]

The Afgans next to my yard had a swimming pool size hole full of waste oil,and motor car fluids .......the council sent two inspectors to investigate the neighbours complaints ......and the afgans refused to let the council inspectors on the place ,cause they were women ,and wernt wearing 'modest clothing'............the council issued the afgans with a penalty notice ......the afgans took the council to the 'Race Discrimination Tribunal "......and won.........the penalty was set aside by the tribunal.

 

[john.k]

However ,the council never forget --or forgive .......the afgans had to apply for a rezoning to industrial usage on the land ,and actually got the approval......but have to put in storm water drainage and roadwork costing millions ......to make this economic ,they had to buy me out at my price.........now thats a happy ending.

 

[Freedommachine]

What on Earth is "oil/coolant drainage"?


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Think Snow Eh!
Ox

Found this on Reddit the other day . Trust the science!

 

[Freedommachine]

the meantime that land went from $4000 to $2 million ,and I sold out two years ago.

This might seem like a strange question but... How do you figure out what to do with $2 million in liquidity?

This would be quite a stress inducing moment for my inexperienced 31 year old mind. Many people have over $1 million in assets when they retire, although most of it is built up and locked into various assets and investments over time.

I would think that, given the situation you found yourself in, alot of those same retirees could end up trusting the wrong asset manager or getting nervous and locking it all up into savings accounts.

I've thought in the past "what would I do if I won the lottery?" Honestly, I wouldn't even know how to find someone that I could trust; someone who would be interested in actually helping me, rather than trying to leach off of my capital.

If it is too personal a question; feel free to tell me to mind my own business.

 

[Ox]

Make sure to watch all American Greed eppisodes before going with an investment broker!


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I am Ox and I approve this post!

 

[EmGo]

I've thought in the past "what would I do if I won the lottery?" Honestly, I wouldn't even know how to find someone that I could trust; someone who would be interested in actually helping me, rather than trying to leach off of my capital.

I'd have to get a bigger mattress.

 

[Ox]

"Stuff it all down in the Mason jars, and bury it all in a round."


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Lucius Clay
Ox

 

[david n]

Found this on Reddit the other day . Trust the science!

View attachment 407396

Doesn’t everyone do this???…….. or dump it on your gravel driveway to keep the dust down????

 

[Freedommachine]

Doesn’t everyone do this???…….. or dump it on your gravel driveway to keep the dust down????

Not that I'm aware of. Most people I know either burn it or give it to someone else who burns it. I have a few friends that cut it with home heating oil and run it in their trucks, tractors, skidder, dozer, ect.

I just stack 5 gallon buckets of it in preparation for building a waste oil burner. I also mix it about 30/70 with WoolWax and use it to oil spray my vehicles. Used oil also works very well for painting the bottom side of mower decks.

Now, if anybody knows of a useful solution for 25 gallons of old antifreeze... I'm listening lol.

 

[Ox]

Feral cats seem to like it?

(Just getting it in before EmGo)


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Working Mans PHD
Ox

 

[Doug]

This might seem like a strange question but... How do you figure out what to do with $2 million in liquidity?

If you live in the USA and faced with john.k's situation first thing is find a way to avoid the 20% capital gains tax which would be $400K. That's an easy one, you create a charitable trust.

Then you find someone you have confidence in to aid in investing the money.

 

[EmGo]

Feral cats seem to like it?

(Just getting it in before EmGo)

Win some, lose some

 

[john.k]

Fortunately , there was no tax on the sale ,it was grandfathered back to when there was no capital gains tax on land sales.........I was able to split the money for the scrap into two financial years,so there was no tax there either (Tax free threshhold here of $18,300 PA)

 

[Freedommachine]

Don't you guys love how PM scans our conversations for YouTube content? I'm going to start linking their videos in the threads they took them from, it only seems fair... right?