What would you do with 70K

[JMOT]

The website option would be a full time commitment

No. Hire people to do stuff for you.

If I cut out procrastinating and proper time wasting activities (acorn, dailymail, youtube, youporn) the amount of actual work i do (analytics, serps checking, conversion tracking, chatting to my workers) is errrr maybe an hour a day.. maybe 2... I reakon I could cut that down to 30 minutes if I really tried.

Its only when I write something like this I realise I should be doing more delegating and find another hobby altho I really do actually enjoy sitting there researching and reading stuff that helps my business/vocation.

 

[rob]

I have yet to see a crackhead leaving their needles in a website. I have in rental property.

'respectable' people as well.

Phil n Kirsty forget to mention that element

 

[BREWSTERS]

LOL I'm not sure how to reply to this. Either heavy sarcasm or just an open mouthed "are you serious" look?

The recipe is simple, the workings and reality are not so simple:

Pick a niche.
Build a proper website.
Do proper effective SEO (you might need a seo consultant/firm if you cant do it yourself or just want to be handheld to ensure what you thought was the right way to do seo actually is...or not)

You can throw money at it like a lune and get there faster or less & slower if you have the patience .

Many people here have several successful ventures on the go. Its replicable... you just have to find your own way

So if it's easily replicable, you must have 5, 10, 20 of these on the go? Netting £1m - £4m a year? Or is it replicable to copy at a rate of 1 per year?

In a previous existance I was making several £thousand a day as a copper abr trader - it was a piece of piss, but only because someone else was calling the market for me and it was their £5m+ that was providing the margin for the trades. Was that replicable? Yes, if you had the trading instinct and the necessary knowledge to read the market, and the £5m required margin.

What I'm asking is, with £70k outlay, can you set up an online business that could be handed over to virtually anyone, that nets £15k-£20k a month? I'm not having a go here...if the answer is yes, I'm in! I'll take 5 of them.

 

[BREWSTERS]

I have yet to see a crackhead leaving their needles in a website. I have in rental property.

'respectable' people as well.

Phil n Kirsty forget to mention that element

Example A. A friend rented out a house to the brother of another friend. Turned out this prick was a smackhead...left taking everything; even stripped the wallpaper. Can you believe that? What did he think he was going to get for that???

Example B. Nice house, 5 beds, indoor pool - was up for sale at £695k but no takers - rented out to well-to-do couple, good credit. Two weeks ago place crawling with fuzz - the female gets charged with intent to supply and money laundering.

'Homes Under The Hammer' has a lot to answer to - they never count the real costs. Before you start looking at 'profit', take into account all the other costs. It's like 'Bargain Hunt'....they ignore the sales commish completely! Bag-o-shite.

 

[Retired_member41]

Put the money into your pension, then with a small cost, manage your own pension and buy your house, if there isnt enough in your pension pot for this, use whats in it and mortgage the rest.

Then pay rent to your pension with all the benefits in doing so, so be mortgage free, and as you pay rent it just goes into your pension. You can even give yourself lots of rent free holidays

Do the math, you wont find a better investment, unless you are already managing your own pension that is.

 

[Edwin]

Nobody who can create a business doing £10-15K a month from £70K plus hard work is going to do so on behalf of others! Why should they with that level of cashflow coming in?

For the record I believe A) It's possible, but B) It's very hard and takes a lot of experience as well as effort

 

[namealot]

Example A. A friend rented out a house to the brother of another friend. Turned out this prick was a smackhead...left taking everything; even stripped the wallpaper. Can you believe that? What did he think he was going to get for that???

Example B. Nice house, 5 beds, indoor pool - was up for sale at £695k but no takers - rented out to well-to-do couple, good credit. Two weeks ago place crawling with fuzz - the female gets charged with intent to supply and money laundering.

Stop advertising property to let in a rehab centers ….

If you’re looking to get a big earner on 70 K then more than likely you’ll end up with magic beans… its not enough for most business and too much for some… Research, hard work and luck pay off better than throwing cash at something

 

[JMOT]

So if it's easily replicable, you must have 5, 10, 20 of these on the go? Netting £1m - £4m a year? Or is it replicable to copy at a rate of 1 per year?

In a previous existance I was making several £thousand a day as a copper abr trader - it was a piece of piss, but only because someone else was calling the market for me and it was their £5m+ that was providing the margin for the trades. Was that replicable? Yes, if you had the trading instinct and the necessary knowledge to read the market, and the £5m required margin.

What I'm asking is, with £70k outlay, can you set up an online business that could be handed over to virtually anyone, that nets £15k-£20k a month? I'm not having a go here...if the answer is yes, I'm in! I'll take 5 of them.

I know you're not having a go. Its not easy but it is replicable for sure. In fact I can only say this again... the recipe is simple... the reality isnt all that easy.

It takes money, time, expertise, experience, balls & patience.. plus other stuff I cant think of right now lol.

In fact theres a certain member here who knows how hard I found it doing one particular project, finding my feet, doubting myself, struggling but ultimately coming good.

I have failed more websites/ventures than I have successful ones. I've done it tho and I've learnt along the way.

However I dont want to rely on just SEO. I'm moving towards more balanced business models. These require more work, more cashflow to setup. More of everything. How many online ventures I have going and how many i'm involved in is my business. Thats not me being rude, its just nothing to do with anyone else.

To your question, yes, with £70k you can set up an online business that could be handed over to virtually anyone.

Its possible to do with more than £70k, its possible with less. It depends on what you are trying to get into.

If you want 5 of them you'd better learn how to do 1.

 

[JMOT]

Back to the OP.... with £70k you should consider properly doing a web project IMHO.

 

[pbryd]

It's all theoretical stuff.

Good to see investment ideas being thrown around.

How about looking for a small plot of land, getting some plans drawn and selling it on with planning permission?

Now that's definitely a Homes under the Hammer story.

 

[keano]

Surprised to read that most are saying to take the £70k and create website/s. For £70k if you look in the right places you could buy up existing sites that will make a good income as long as the right niche and websites are selected.

With some foresight, specific features or addons to the right existing sites could significantly increase existing revenue long term and would be a faster and potentially lower risk way of achieving a return on £70k.

 

[JMOT]

Keano, thats a good point!

 

[max_rk]

Put the money into your pension, then with a small cost, manage your own pension and buy your house, if there isnt enough in your pension pot for this, use whats in it and mortgage the rest.

Then pay rent to your pension with all the benefits in doing so, so be mortgage free, and as you pay rent it just goes into your pension. You can even give yourself lots of rent free holidays

Do the math, you wont find a better investment, unless you are already managing your own pension that is.

I don’t think it works like that. Unless you know something I don’t know. With SIPP one can buy only commercial property and only %50 of the amount.

 

[jwm]

Surprised to read that most are saying to take the £70k and create website/s. For £70k if you look in the right places you could buy up existing sites that will make a good income as long as the right niche and websites are selected.
.

And where would these right places be!?

 

[keano]

Just further to my earlier point about buying existing sites, if folks haven't gone down that road before I'd definately suggest avoiding buying sites from the likes of Flippa or various brokers. You are essentially after a site where the seller doesn't know its value so always approach end users where possible.

In terms of niche selection it doesn't necessarily have to be one of the high value CPC areas it just needs to be something that is a sustainable market rather than a transient one. Think utilities (which everyone needs to use and won't query paying for) as opposed to luxuries or fads which can go in and out of fashion.

To narrow down further, if you are considering a specific niche think of a problem in that niche that affects you. If it affects you it will likely affect others so there could be a market for providing the solution to the problem - be it a new service or providing specific information that doesn't currently exist. So find end user websites within that narrow remit and think how they could be expanded to provide services or ideas that will prove to be "solutions" to existing "problems" in that niche.

Sorry for veering off the subject, but hopefully someone will find that useful in some way.

 

[retired_member27]

I must be in the minority, my day job is share trading and I've made far more buying and selling shares than I could ever make in domains or property, but like everything it's all about the timing.

 

[stender]

I must be in the minority, my day job is share trading and I've made far more buying and selling shares than I could ever make in domains or property, but like everything it's all about the timing.

Higher risk though and you obviously know the business. I've traded shares and futures but wouldn't class it as a safe stategy for the novice. I've seen many fingers burnt. Are you day trading or longer term?

 

[retired_member32]

i would pay for me and five hookers to travel to vegas for a week...ahhh

stocks & shares = volatile

housing = nearly a million homes unoccupied and a huge bubble ready to blow

at least i would die with a smile on my face

 

[Peter E]

Buy 3 or 4 premium quality .co.uk domains
e.g travel, finance domains

Advantages include ….
Low risk
Currently undervalued
Realistic potential for substantial capital value appreciation (in real terms)
Scope for income if leased out (option to purchase clause could be included).
Option to develop now or in the future secured

Relatively exciting and prestigious unique assets.

:!:

 

[zehrila]

You have 70k to invest.

Do you,

Buy a property and rent out, or

Buy shares in companies that pay dividends?

If my sums are correct

If you buy a property for 70k and rent out for £4200 per year (£350 per month) that will bring in 6% of your investment per year.

Or you can buy shares and grab dividend yield of 5.4% - 8.3% (source)

Any property guys and stock investors have an opinion on this?

All theoretical of course.

With 30% of that amount, i can raise a business in 6 months, which can earn half a million a month.