My old mentor Raj and I would often discuss the perfect business. The perfect business would have no inventory, no employees almost no headaches. The perfect business would be a one time sale of a product or service people had to have or really wanted to have. There would be a one time sale with little maintenance and people would continue to just make payments monthly with little turnover. Basically, we agreed that the absolute perfect business was… Wait for it. You’re going to be surprised… Insurance.
Think about it, no inventory, no cost to acquire the inventory and when it comes to auto and health insurance it’s mandatory to have it. Basically it’s the perfect business. Well, I have found the “Almost Perfect Business” in Land Sales.
Land is well just land. No maintenance required. No inventory to store just legal documents. Land that is financed is a one time sale and the monthly payments keep coming in and if someone fails to pay you you simply re-sell the land. The problem with Land being the perfect business is the up front costs associated with actually first acquiring the land.
Otherwise, land sales would meet almost all of the requirements of no inventory, no employees, no headaches associated with the inventory breaking down, spoiling or becoming obsolete. Land has always had a strong demand (maybe not in the last few years, but there is demand) and if you finance it’s a one time sale with monthly recurring revenue. Plus, your balance sheet looks so much better than any Insurance Broker and people won’t run away from you at parties…
If you’re interested in learning more about owning your own land business (it’s fantastic part-time way to make extra money) let me know and I can help you for a nominal fee.
Then, you can discover for yourself the Almost Perfect Business to start making money in Real Estate.
