Actually my rental properties overseas are not making much of a profit so far. I have been lazy and inconsistent and haven't put much time into finding the best way to improve return on investment.
The business that I have in Florida is a small service business that I started about 14 years ago.
My advice to anyone is go to work for another company that provide some sort of service in an area with high income earners.
Learn how to sell that service and train in the sales end of the business. If you want you can learn the service end of it as well and the installation and of it as well but don't let that side track you from learning how to sell the product.
Once you feel comfortable that you can sell the product quit your job make sure that your professional license is set, work out of your garage, print yourself a bunch of contracts, find one guy who wants to do the installation and go sell the day that you quit your other job.
Keep your overhead low do not go into debt. As you grow the company always remember to put yourself first and pay yourself first. Do not grow the company in hopes of selling it 10 years from now because that may never happen. Put the money in your pocket as you make it. Treat your customers like gold and they will refer you to other people. It's extremely difficult to find competent service companies in California and Florida in my opinion. Work your ass off. Work Saturdays and Sundays. Enjoy the competition and enjoy destroying the competition.
When you grow large enough higher sales staff and retire to Colombia, Thailand or Europe.
The business that I have in Florida is a small service business that I started about 14 years ago.
My advice to anyone is go to work for another company that provide some sort of service in an area with high income earners.
Learn how to sell that service and train in the sales end of the business. If you want you can learn the service end of it as well and the installation and of it as well but don't let that side track you from learning how to sell the product.
Once you feel comfortable that you can sell the product quit your job make sure that your professional license is set, work out of your garage, print yourself a bunch of contracts, find one guy who wants to do the installation and go sell the day that you quit your other job.
Keep your overhead low do not go into debt. As you grow the company always remember to put yourself first and pay yourself first. Do not grow the company in hopes of selling it 10 years from now because that may never happen. Put the money in your pocket as you make it. Treat your customers like gold and they will refer you to other people. It's extremely difficult to find competent service companies in California and Florida in my opinion. Work your ass off. Work Saturdays and Sundays. Enjoy the competition and enjoy destroying the competition.
When you grow large enough higher sales staff and retire to Colombia, Thailand or Europe.