The Trinituner Entrepreneurship/Self Employed/ Side Hustle Thread

[rspann]

Serious thing nothing beats apartments, once you go about it in the right way. Car rental risky,and unless you register the company and put the cars R getting insurance is hard . If you don't have Rental insurance heaven help you in case of an accident ,unless you coach your customers what to say(ah borrow it from meh pardner). If you can start off with one small rental property, you can become rich in a few years by continually expanding using your rent as a means of getting more properties. Buy cheap and renovate /build if it's land and soon you'll see results. Any area works ,people live in all areas and the government could never make up the shortfall in housing. There are laws that governs tenants so once you do every thing properly you are basically safe, Insure your building ,so that if through carelessness of a tenant you suffer loss,you will be compensated.

[rere31]

So what if i use the car rental business as a means to get a larger capital to invest into apartments?

[kjaglal76v2]

if u hv dah big $$ readily available den by all means construct an apt

[rspann]

When I started I start small. You don't really have to be loaded to start an apartment building. You have to use wisdom and grow from the first one. Even if you want to do rentals you need capital. I said what I said because he mentioned backhoe and cars ,so I am assuming he has some sort of funding in place. Even if he doesn't have the means to do it right now somebody else could get an idea or when he gets more funds it is a direction he could look in.

You could start in an area where land is still cheap( las lomas, chin chin sangre grande etc. ) start a two storey rent the upstairs while doing downstairs,so income from that could see you to completion. Right now I am helping one of my friend to set up this same idea.

I know people who started from nothing and built empires from real estate.

[kjaglal76v2]

good advice, whats the avg cost to acquire a piece of land & the initial upstairs construction gonna cost?

[rspann]

There is land selling in those areas from $75G to$250G ,some have pay to own plans. A reasonable building(6 apts )could cost $600-$800 G you don't have to have all at the same time. If you do upstairs it could reach $450 G,start to rent the upstairs three and use that every month to continue on the downstairs eventually you are finished. Save your rent and put it into another after a few years.

[shake d livin wake d dead]

but I tell allyuh bout the renting thing,allyuh watch meh like I talking $hit...

well said rspann

also if you're looking to buy land, make sure its approved less headache when time to build(approved lots starting at 250k depending on location).

I started by building a decking but two, two bedroom apartments downstairs..when money comes in nice again I going at the upstairs...($2500 per month from the 2 apartments) is good..I won't go to the bank for $$ to build again...

[kjaglal76v2]

what headaches u get for un approved lots

[desifemlove]

Appts want have pay back for years. Plus yuh need good contractor, govt approval, osha.

Op, id suggest foods, but not standard local fare like doubles, roti, pelau. think something people doh know but would like, kind of like how gyros got big now.

[kjaglal76v2]

osha?

who goin thru all dem ting? esp when building outta yur own pocket?

[rspann]

That's the way shake. The only thing different I would do is to do upstairs first so that there is less discomfort for the tenants downstairs when you doing upstairs, but then if you don't have enough to build the roof etc.,then your way is fine too.

[rspann]

Appts want have pay back for years. Plus yuh need good contractor, govt approval, osha.

Op, id suggest foods, but not standard local fare like doubles, roti, pelau. think something people doh know but would like, kind of like how gyros got big now.

If you do it without a contractor you save tons and you have no headache. I have never used a contractor and I have a crew of men who can do every thing except electrical. Approvals,what is that? osha? I building years now and don't get approvals. Even who go to town and country, build different to approved plans because you only get permission for just over forty % of land space. Pay back?If you use your own money, you don't have to study payback. If you have a million in the bank you get 1.25% that's $12 500 per year or just around $1000 per month interest. If you put up an 8 apt (2 bedrooms) @ $2500 to $3000,you get $20-24 g per month take out minor repairs and insurance ,you tell me which is better . You also have a building that you could get back $2.5 - 3 million if you wanted to sell it.

[rspann]

If you are borrowing ,this is a whole different scenario ,because you will need approvals and completion certificate. If this is the case and you have funding in place , you can go the whole distance at the same time. If you pay the mortgage from the rent you can get extra income and still end up having something you never had before.

[rspann]

Food business making small money compared to the amount of labour you have to put out,sometimes till late in the night . What I talking about you don't have any work to do after the building completed. Maybe change a tap or a plug every few months,or clean up and touch up when someone moves out.

[shake d livin wake d dead]

That's the way shake. The only thing different I would do is to do upstairs first so that there is less discomfort for the tenants downstairs when you doing upstairs, but then if you don't have enough to build the roof etc.,then your way is fine too.

ah start small,roofing is ah beyotch, but with accumulated rent I'd do it in one shot and build two more apartments together with meh roof and hopefully collect ah lil 10k monthly

[rspann]

That's the way shake. The only thing different I would do is to do upstairs first so that there is less discomfort for the tenants downstairs when you doing upstairs, but then if you don't have enough to build the roof etc.,then your way is fine too.

ah start small,roofing is ah beyotch, but with accumulated rent I'd do it in one shot and build two more apartments together with meh roof and hopefully collect ah lil 10k monthly

I have a roofman who doing it real cheap,PM I'll give u his No.

[LovinDiva]

I hate my OFFICE Job. Get me out of here.

[LovinDiva]

I feel like a failure. While everyone around me is progressing in life, I've taken 100 steps backwards, I was just looking to creep, now I can't even wipe my az by myself. Is this it? Is this my life?

[LovinDiva]

cries in misery.

[rfari]

You a bess ting?

[dougla_boy]

ebs, business slow?

meh 300 guaranteed inno....say d word....new jansport for Rodney

[1UZFE]

I feel like a failure. While everyone around me is progressing in life, I've taken 100 steps backwards, I was just looking to creep, now I can't even wipe my az by myself. Is this it? Is this my life?

I wud wipe yuor arse...

[Slartibartfast]

You wiping mine to? Similar skills required...

[LovinDiva]

I'm crying on the inside, but as soon as I reach home, is burst in tears. I'm so miserable. I don't know what is wrong with me. I started the year saying everything is going to be ok, believe in myself and everywhere I turn to is no maam we can't help, you don't have fit the criteria blah blah blah, just today alone I was turned down 3 times from 3 different organisations and yesterday I was turned down by a government institution.

Yet I tell myself don't worry things will work out. But that is a lie. A big fat lie. You see in this world, if you don't have $$ to begin with, family & friends who have yuh back, you are nothing. You all can sit in your offices or homes and judge me all you want but you know what I am talking is the truth.

I need a drink, but I don't even have $$ to buy one.

[desifemlove]

Appts want have pay back for years. Plus yuh need good contractor, govt approval, osha.

Op, id suggest foods, but not standard local fare like doubles, roti, pelau. think something people doh know but would like, kind of like how gyros got big now.

If you do it without a contractor you save tons and you have no headache. I have never used a contractor and I have a crew of men who can do every thing except electrical. Approvals,what is that? osha? I building years now and don't get approvals. Even who go to town and country, build different to approved plans because you only get permission for just over forty % of land space. Pay back?If you use your own money, you don't have to study payback. If you have a million in the bank you get 1.25% that's $12 500 per year or just around $1000 per month interest. If you put up an 8 apt (2 bedrooms) @ $2500 to $3000,you get $20-24 g per month take out minor repairs and insurance ,you tell me which is better . You also have a building that you could get back $2.5 - 3 million if you wanted to sell it.

guess so. but how many does have money up front for dat?

[[X]~Outlaw]

WTF did I just read!

[desifemlove]

Food business making small money compared to the amount of labour you have to put out,sometimes till late in the night . What I talking about you don't have any work to do after the building completed. Maybe change a tap or a plug every few months,or clean up and touch up when someone moves out.

it is? my uncle/aunt does own food place, and they only spend a few hours a day cooking. and once it gets big, yuh jus hire a cook and only worry about marketing, menus.

[desifemlove]

osha?

who goin thru all dem ting? esp when building outta yur own pocket?

jus saying yuh have to have the money upfront to afford de land, materials, workmen, plumbing, well everything to build. for somebody lookin for ready money, it won't wuk.

[Slartibartfast]

[deleted]

[nervewrecker]

Have you tried the grocery ?