120k a year isn’t enough

#276
#276
NEO said:
Use a property management company or hire someone. Once you have a few, the cost begin to get spread out so it effects the margins less.

I live 400 miles away from every property I own. I do stay in Columbus about 3 months out of the year but that is totally do to my second office there and has nothing to do with the properties.


They check on the roof, mow the grass, fix the lights, change the batteries in the smoke detectors and collect rent for me via their website or mail in payments. They then send me an invoice each month and at the end of the year which I then hand to my accountant for taxes.

I haven’t even known who my tenants are for years.
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I get an email when a tenant is getting switched out. Only form of limited contact I have with them. I like it that way.
 
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#278
#278
NEO said:
Strip clubs are the largest return on investment period as long as you can completely flush your morality down the drain and wipe every bit of humanity away from yourself.

We ran about 100 girls on the weekends. Most people don’t know this but the girls are 1099 and pay a flat fee to work each night and then also must cut the club a portion of their tips, say 60/40. So you are clearly on average 500 per girl.

Plus the club has hardly any other payroll as the bouncers are paid out from the strippers and the waitresses are wait rate.


So you are making money on alcohol plus you are selling 16.99 bottles for 150 bucks in the champagne room and you are getting uptime every hour (40 bucks for two dances) and about half the girls tips.

We were clearing 65k to 85k a night on Thursday through Saturday and 25k to 40k the rest. Club was profiting damn near 5 million after overhead and the only real expense was lights and electric.

But….it will totally screw your sex life up and f your head up…..so there is a down side.
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When I was much younger, I did God's work and helped a stripper get her breast augmentation written off as a business expense
 
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#282
#282
BigOrangeMojo said:
Yes, she had to file a Schedule C

She got a notice since she never included her 1099 as income so worked with her to pretty much find any expense (included gym membership, some clothing, mileage) to lower what she owed.
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I didn't think about gym membership. That's interesting. If breast implants could be written off, what about tattoos?
 
#284
#284
Rasputin_Vol said:
I didn't think about gym membership. That's interesting. If breast implants could be written off, what about tattoos?
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Deducted tanning, gym membership, some outfits, makeup, mileage, phone, computer, partial home office

I'd say no to tattoos. Stuff like permanent makeup, I'd say yes.
 
#286
#286
BigOrangeMojo said:
Deducted tanning, gym membership, some outfits, makeup, mileage, phone, computer, partial home office

I'd say no to tattoos. Stuff like permanent makeup, I'd say yes.
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Computer? Home office? For a stripper? I’m assuming you‘re talking about a stripper working in a strip club.

I apparently misinterpreted your “God’s work” post earlier. I thought you were paying for “stripper services rendered”. Sounds like you were doing her tax returns. Not exactly what I envisioned.
 
#288
#288
Vol423 said:
Computer? Home office? For a stripper? I’m assuming you‘re talking about a stripper working in a strip club.
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Yeah, she worked in a club (Platinum Plus) and traveled to other clubs. She had a computer and printer to print out driving directions to those clubs. Guess she used email at that time to talk to other clubs that brought her in.

I was being facetious when I said God's work when helping out a stripper.
 
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#292
#292
VolStrom said:
Did you actually read this? He plainly states what I suspected, that the people making $120k are doing so at the expense of working 12-16 hours a day 7 days a week. I witnessed this same thing and someone working max overtime and 7 days a week is not worth having around as an employee, they're exhausted all of the time.
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I think there was a plant in Clinton about 4 to 5 years ago that was at one time working people 7 days a week and 12 hours each day. How does a company expect someone to function and be productive working that much? Needless to say they had a high turnover rate.
 
#298
#298
I’ve seen unions with good employees and bad ones. One bad example is the one at the Resolute paper plant in Tennessee. Their maintenance guys would literally sit in the break room all week and save things that needed to be worked on until the weekend so they could get overtime. The unions at Oak Ridge are much better.
 
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#299
#299
DonjoVol said:
I think there was a plant in Clinton about 4 to 5 years ago that was at one time working people 7 days a week and 12 hours each day. How does a company expect someone to function and be productive working that much? Needless to say they had a high turnover rate.
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There’s statistics out there that say you get about the same amount of work out of someone working a forty or fifty hour week as you do someone working a seventy hour week. It gets worse the longer the seventy hour weeks continue.
 
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#300
#300
You have to marvel at the arrogance, stupidity and level of entitlement involved in employees voting to unionize a store on June 23rd that isn't even open to the public and generating revenues (closed to the public since June 17).
 
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