Has anyone here ever actually done it?

you mean the guy that P&D's low volume microcaps?

as far as I know he's never posted any proof of his alleged gains

this

how old are you? i'm very envious

It's not him, it's a tripfag named iHaz (millions).
I think he owned a lawfirm or something. Also did some investing.
There was a time when he was pretty active and tried to help people on a regular basis.

At that time there were also some trolls that would copy every investment advice he would make, and when he was wrong once they would claim he was a fake/retard.

Veeky Forums didn't exist in 2014

>so many newfags here

And the artistic-driven intellectuals dream of all the potential to improve the world, to live a unique life and to fund artistic projects, all of which money can accomplish.

YEP 1k monero here... nothing close to your 50k+ monero though... well done bud

Yeah, my dad got rich and I'm his son, so it is not the most glamorous thing I can brag about,becuase it's like winning the lotto for me

What do you think is rich?

I've have increased my net worth by ~38% a year since i turned 18. Goal is to be dollar millionare before i turn 35 which is mean i can increase my net worth by way less than 38% a year and still make it.

nice man, im glad im not the only one

>increased my net worth by ~38% a year since i turned 18
Every fag who graduates high school increases their income when they turn 18, assuming they get a job. The average increase is 100% since they're usually going from no income to some income.

Only a loser brags about something that he hopes to do, especially when it comes to wealth. Just shut up and do it, and then you can come into threads like this and get all the validation you desperately crave.

Until then, Veeky Forums isn't your dream journal.

t.salty wagie

fucking meming faggot

I'm 24 and my wife and I make about 160k a year in a low cost of living area (I make most of it).

I can pretty much buy anything I want (don't really want much). The only thing I splurge on is I buy cigars in bulk and smoke 1 or 2 a day.

I feel rich.

>The average increase is 100% since they're usually going from no income to some income.
>from no income to some income
That would be infinity% brah

Feels good when morons trip. Easily filtered

i could get rich if i dropped outta my phd program traded full time. seems risky but it doesn't seem that difficult and i have around 50k in the bank to start with

you should definitely do that.

problem is that i don't really care much for money and i would get extremely bored if i wasn't doing my phd

I was being insincere.

Coding automated trading system and making 100.000euros a year in europe in my mid twenties. I still feel poor as fuck and it has not really helped with grills (I have basically the same kind of women than when i earned 40.000 or even was a student).

i live with my mom in the basement. i was lying

bamboozled again

i really want to do this, any tips about what works and doesn't?

Bunker user on diy did

Grats user. Mfw i have 0 marketable skills that arent blue collar.

I can run anything with wheels and most without.

Mfw to make good money ibhave to travel and work 90 hours.

Fuckit. Ill live like a poorfag at 60k where i am. Sigh...

Time to start another conpany i guess.

Nope. Making 40k a year, but at least my expenses are low.

Eh, i got lucky. But thanks.

I think blue collar work is good work. For many years, I sat in front of my computer for 12+ hours per day working, never interacted with other people, and got absolutely 0 exercise.

Sure, I have money now, but my social anxiety is thru the roof, I'm an unfit sack of shit, and am just in poor health. I'm slowly trying to fix that though, exercising each day, going for runs, etc.

In short, blue collar work aint bad. If i had to start my life again, I would recommend to myself to get into carpentry or something. In Australia, blue collar workers are highly paid and easily easily earn 6 figures.

Dont think so..

>Has anyone here ever actually done it?

Well, maybe 5% here are trust fund babbys so they have made it by birth

I gross over $100k per year (easy to prove)
I have a net worth over $1 million (difficult to prove)
And I'm retired (probably impossible to prove)
all of which I did by age 32 (also difficult to prove)

I don't know that that makes me rich though. Technically it puts me in the top 1%, but only barely. My life isn't impressive at all. The only really amazing thing I do is not work. I spend a lot on vacation too, but most people probably couldn't judge that having never done the sorts of stuff I do.

I consider myself middle class aside from the fact that I haven't worked in 12 years and won't be working any time in the next 6 at least.

wait, 1℅ per day * 365 makes 365%. That means you triple your money.
Are you a multimillionaire already?

1% per day every day in succession for an entire year is a 3778% increase you fucking retard.

Stay in school senpai.

i dropped out a long time ago already.

>Guy posts hey this shit is gonna go up
>Things goes up always
Honestly
what proof do youneed

how did you did it?

How are you comfortable to retire on $1m?

I'm worth 2.7m and I live a very modest life, but I feel really uncomfortable about retiring.

I guess you probably live in some shitty part of america where houses are $150k, and everything is cheap?

I'm the guy that bought a small janitorial company and grew it into a slightly bigger janitorial company.

>How are you comfortable to retire on $1m?
I'm not retired on the value of my company. I draw a salary from it. That's my ~$100k per year. I can live quite comfortably on that, and it requires almost nothing from me to maintain it.

>I guess you probably live in some shitty part of america where houses are $150k, and everything is cheap?
yep, I actually paid $140k for my first house, but that was 15 years ago now. It's worth a couple hundred grand now. But still comparatively cheap. I don't have terribly expensive tastes, and I make about 3 times the average income for my town.

thats nice so you sold it royalty as former boss??

Ah, you're an old fella.

I've just recently come into my money, which really sucks, as we're at one of the most uncertain economic times in recent history. I'd kill to be able to go back and purchase some property 10 years ago.

I really just want to make my money work for me, but I'm certain the stock markets are going to dump soon, housing markets will go with it, gold/silver might too... bank bail ins, etc etc.

No idea what to do with my money.

I'm looking to buy some investment properties, and its about 500k USD for a medium sized, standard 3 bedroom house in Australia.

Considering going to USA to get some cheaper properties that get 10%+ yield (compared to 3% in Australia)... but that's a bit challenging for me for personal reasons.

I still own it, I just pay other people to run it and work it.

If I sold it my net worth would drop quick. In ten years I'd be broke. I'll probably sell it when I'm closer to dying. I have plans to sell out and move to Hawaii if my biz is still worth anything in 20 years or so. Its value goes up and down a lot though depending on local markets. It was worth about 4 million in 2011, but I couldn't have sold it for that since a wise buyer would've seen that wasn't sustainable.

I'm 44 right now. So yeah, fairly old. I've been retired for 12 years.

I probably don't have enough time left to make money in real estate. My town is in a bubble right now anyways, not a great time to buy. I don't have any advice on that though, it's not really my game. What I do is way more volatile, but when it pays off it pays big. A lot more risk though, no real assets.

What do you do?

How exactly do you pay others to run a business for you? I've always wondered that. Would you earn twice as much if you did the work yourself? Etc.

nothing.
I own a janitorial company. My crew cleans industrial sites and business offices.

I personally find clients and close sales. Most of our contracts are for 6 years, and it only takes a few hours to bid a job and sign a contract, so I essentially do nothing. Once every year or two I'll spend a few hours closing a deal. That's about it.

What did you look for in this jainitorial comapany when purchasing it?

I'm 20 rn and I'm thinking of taking my accumulated wealth to put the 10% down needed for a SBA loan and buying someones business but I don't want to buy a fucking turd.

well first you train them, and then you pay them. You can set them up as employees which requires getting a TIN from the IRS and then buying workman's comp insurance for them, increasing your liability insurance to cover payroll, and then submitting two tax contributions for them, one out of their check and then a matching contribution you have to pay as their employer. Other than that you have to give them a schedule and talk with them to make sure they have what they need to work, and sometimes check up on them to make sure they're doing the work.

I prefer to pay them as subcontractors which means I skip the taxes and insurance expenses but have to pay them more for the privilege.

yes, if I do their job I could make their money. I don't want to do their job though, I don't like being a janitor. But if my business ever goes to shit I can always go back to cleaning for a living. I'd have to lose at least ten people before I hit that point though.

I chanced into it, I wasn't looking to buy a biz.

I bought it from my gf's sister, all I cared about was she was working 40 hours a week and making $75k per year. That was good enough for me, that's 3 times what I was making then for the same amount of work.

I wouldn't buy a business now unless it had solid assets. Brick and mortar store maybe. Something like what I do can be started for almost nothing if you know how. You just need to know who to talk to to get jobs.

So if I'm understanding how this works if I wanted to start from scratch

>Do all the shit that involves registering the business
>Call local cleaning services and find contractors with reputable experience.
>Go into local office buildings and businesses, wear my best suit and place a bid with them.
>Wait for them to accept my bid, contact my contractors and get them to go clean.
>I take 20% for the clean
>After a couple of successful cleans try and get the business to sign a multi-year contract.

So how would someone without anything start a janitorial company like you? Do i go to SAM and get my first contract ever with the government? Would 2 people be enough to fulfill a contract and what kind of equipment do i need?

close.
You don't need to wear a suit, I keep my sales meetings very informal. You're just the janitor.

You probably can't hire the competition, it's easier and cheaper to find people that don't have a formal biz going. People that are cleaning an office or a couple houses or whatever without insurance or help. Those people that hang fliers around town offering cleaning. Watch who you hire though, and treat them as both friends and competition. They're both.

in most cases you'll have to buy equipment and supplies. For the size of jobs I do you shouldn't need to spend more than $200 to get that part started. You may need as much as a couple thousand though if you're doing carpet cleaning or floor stripping. Getting a business license and insurance costs a bit more. Insurance in particular may cost you about $1000 to start up, but that'll likely pay for the full year.

You can take more than 20%, that's negotiable. I tend to take about 30% of most work but can take up to 70% on higher paying stuff.

Most of your work will come from people inviting you to bid though, you need to find out when certain businesses or governments put work out to bid. That way you don't have to go find them, they find you. Instead of canvasing town looking for work, the big jobs will call you up every 6 years or whatever and ask for your bid. That's way easier, but you'll probably have to start off by looking for work around town on your own and then working to make it a lasting job.

Registering with SAM is a great way to start if there's government offices in your area.

once you've got your SAM stuff done call up local government offices and ask to be put on their vendors list for janitorial contracts. They send you an RFQ when the time comes and you place your bid.

or you can go on FedBizOpps and look for work there, but most janitorial contracts probably won't show up there because they often pay less than $35k per year which is the cutoff to post there.

FedBizOpps is also a great tool for finding out what your competition is charging and what a contract is worth. What I charge is public information, so if you want to bid against me you can go on there and see exactly what I charged to do the job. Then if you want you can charge less and get the job.

2 people would be enough to do most government jobs that are small-business set asides. The jobs you'd be able to bid on.

equipment will be specified in the contract. usually things like brooms, mops, buckets, rags, cleaning products. Possibly trash bags, toilet paper, paper towels.

some places provide all that, but it's not terribly expensive to get if you need it.

I knew FedBizOpps was a good idea, I remember watching that wardogs movie and thinking fuck man I should do this with stuff that's government contracted besides weapons and ammo.

How important is reputation when starting out, I figured with contracting it doesn't really matter how people perceive your business since you're just getting people who are already qualified to do it.

I figure when things are low volume in the start I can just a small crew of friends, pick up the equipment and work in the field so to speak until I can grow the business.

Do you think there's any benefit to hiring my own employees for the cleaning or do the cons outweigh any potential pros?

>I figured with contracting it doesn't really matter how people perceive your business since you're just getting people who are already qualified to do it.
exactly. Most of the companies making bank have no reputation and may not even exist in your state.

>I figure when things are low volume in the start I can just a small crew of friends,
exactly right.

>Do you think there's any benefit to hiring my own employees for the cleaning
employees are cheaper. Most people cleaning on their own are already going to be making $75-$100 per hour. Other than that not much. Employees work slower, quit or no-show all the time, hate the job, etc. With contractors you know they like the work and will do it. They just cost a lot more.

personally I like contractors because I don't have to manage them. Tell them what to do once and let them do their thing for years. Pay them on time and forget them. It's easy most of the time.

Thanks once again for being the nicest dude on Veeky Forums, I remember your thread from last time this board actually discussed real business and you gave awesome advice then too.

My pleasure, that's what I come here for. I don't know much but I know what I know.

*meant to say your post, since you didn't create the thread.

I tend to hijack threads. I envision Veeky Forums taking over janitorial services for the world.

I'm more like tileguy though, some of my experience may help people with other lines of work as well. I can offer advice on starting and running most small businesses. Most of my own experience is actually in restaurants and catering. I've worked retail as well. The same principles apply to all of that. It's all business.

>24
>Married
>Makes most of the money

Wow, you're in for a rough ride Freddie.

d...did you get a prenup?
oh PLEASE user, tell me you got a prenup ;_;
i don't want to see you hurt

a prenup won't protect income you make after you get married.

He'll be fine. If he divorces he might owe alimony, but lots of people don't ever divorce.

>Most marriages last forever.
>The divorce courts are fair.
>Women never demand alimony.

I didn't say any of that.

if he divorces he'll owe alimony. All I'm saying is a prenup won't prevent that, and lots of people don't divorce. If nothing else the threat of alimony probably keeps lots of people together.

I've been married twice, I know the courts aren't fair to men and things often fall apart. But eventually the alimony and child support ends, and when that happens he'll still be making more than her, and she'll be shopping for a new meal ticket.

>the threat of alimony probably keeps lots of people together
nigga, you what? the reason women don't fear divorce is because of alimony. men want to keep things up, women don't.

No offense but I have a question, why the contractors you hired need you at all? Can't they go get the job themselves since you did nothing but took 1/3 pay?

I carry better insurance, a number of industrial certifications, a large crew, and a huge job history and advertising structure that they don't have.

the jobs I bid on are ones they aren't qualified or staffed to do on their own. Some of them could take my job easily enough, but that's why I pay them way more than usual.

I'm taking at least 30% of their pay. Most employers take about 90%. They understand this and they know exactly what they're paying me for. There's no real motivation for them to try to take my job.

If you think about it, marriage is an investment. You get lifespan, probably extra spending money, save money on hookers, (not nearly as much as you'd like but), get kids and a legacy possibly.

The risks are, kids hate you, wife leaves you and you lose 50%.

Think of how many penny stocks people are okay with the risk of losing 50% with.

Marriage is a very high risk with variable rewards program. 50% chance of failure, 25% chance of being miserable 25% chance at winning at motherfucking life when you get everything you want including what humans feel as love.

Seeing it that way, its easier to know why people gamble on love.

you do understand that you can have kids without marriage. right?

Almost jumped ship to run a haul truck for 120k over there. Buddy went to college there near Sydney. I fucked up my foot and can't follow the work hard meme. I too am a fat sack of shit and can hardly walk. Actualy carpentry (falling through a roof) is what fucked me. Dabbled in several trades here. If you got your head on right and arent a lazy cunt u can keep in pretty good shape and make 50k or better here. Shits a little cheaper in the us so it probably evens out.

I too have been eating right and trying to walk a little even tho it sucks my ass. Lol. I also took this job for the simple fact i work alone.

Trying not to be anti social tho. Finally got shit depression and anxiety at bay i think.

I feel better / happier at least.

Keep up that exercise. And i have to force myself to go hang out with friends instead of fuckoff at home. But i never regret it.

>cheap

Mfw i bought the shithole i live in for 21k and the 1 next door for 10k interest free.

Mfw my next shithole is 30k in spring.

I regret nothing.

I grew up in a shitty fucking trailer park and my houses are clean. Rarely have a mouse problem. 0 bugs aside from cave cricket in the bathroom until i figure that shit out.

Meh. It's always a step up and in april i will be 31 with a wife of many years and 3 paid for houses. While making about the same as all my friends in hindreds of thousands in debt.

Nah man. Our tax law is so fucked in us. And u folks i think still get a 30% tax break if u fuck up on investment property right??

Just buy some descent medium income rental property so when shit hits the fan u stil have income from your money.

I plan on doing this in the us.

Kind of a hybrid. As a house flipper bit not like you'd think.

Been buying "fixer uppers" and ...fixing them up. Immediately put a high as fuck for sale sign and rent to own shit on it.

Then just rent it until it sells or doesnt.

Not rich yet. But my area is improving and i have had an influx of the rent to own types calling. If any investors catch on i could cash out and just keep doing it.

If not oh well. Passive intome is king. Capital is fun tho when u can pay a fuckton in taxes and pocket a profit.

Samesame

Although i seemingly know less than you.

This is correct. Im sure u arent as shady as these fucks i knew. But they would hire illegal mexicans to be plumbers and get good ones or teach them. Like 3 liscensed plumbers ran a crew of 50. They would essentially have these guys by the balls. They would pay 1/3 or a normal guy with the same skill but a license. So the illegals made more than they could anywhere else. Doing the same job as a legit plumber. And the 3 owners just rode around chasing insoectors and saying they were at lunchbor a kids ball game or wtf ever and juan over here is just a helper.

And like me u can get your balls cut off and not have kids but have the marrige ;)

holy hell!

Yeah, there's no way I'd get away with that.
I get audited every year by the IRS, two insurance companies, OSHA, MSHA, the EPA, and the three government agencies we do work for.

on top of that we run internal audits for safety and compliance as well as one outside audit by my accounting firm.

even then if the government or your vendors and clients don't catch you cheating then your employees or competitors eventually will. I play strictly by the rules so I'm still around when the other guys are fined or sued out of existence.

if hillary wins, expect a large influx of people living off the govt

buy apartments and practically rent them to the government.

send 50% off to someone else to maintain everything and you're in good shape.