The Official Coli Business/Money thread

[Theraflu]

My significant other does hair and beauty and skin treatments as a side hustle and every weekend (like now) our house is full of clients. There are currently 7 girls in my living room waiting to get their hair done. I'm trying to motivate her to make something proper out of her side hustle.

I'd like a family where we have multiple streams of income, investments and small businesses.

 

[Theraflu]

I'm trying to get into the photography business, but I need to build up my camera skills first

what are the earning potentials in your business and how will you make it viable long term (not interested in photography btw) but I like to guage where everyone's heads at so we can aim to motivate ourselves as much as we can...

 

[Theraflu]

Anyone here have a or know the ins and outs of a non-profit? How does one really start to make $ as the founder?

Hmmmmm do you have a particular cause you are interested in or are you hoping to go into it purely for the money ? The latter isn't advisable as they take a very long time to garner that support.

 

[Theraflu]

My goal is to pay in cash. I live in a area where I can still get decent property for cheap if I'm willing to sit on it. Trying to get in before the gentrification wagon sets up shop.

Be sure to do so, I slept on so many property opportunities in London before the prices started going up and up and up.

My only thinking at the moment is rather than tying all your capital into one why not split that capital into two as a deposit for 2 ? Ofcourse I don't know what your feelings towards landlord mortgages are...

 

[Rich Spirit]

what are the earning potentials in your business and how will you make it viable long term (not interested in photography btw) but I like to guage where everyone's heads at so we can aim to motivate ourselves as much as we can...

Well right now I want to use it as a side hustle for extra income

 

[AVXL]

All my Coli business managers

Rep ya shyt

 

[Rawtid]

Be sure to do so, I slept on so many property opportunities in London before the prices started going up and up and up.

My only thinking at the moment is rather than tying all your capital into one why not split that capital into two as a deposit for 2 ? Ofcourse I don't know what your feelings towards landlord mortgages are...

I'm no where near ready to make any moves and when the time comes I may feel differently but I've been advised to pay in cash. Just for the peace of mind /hassle factor. If you don't find a renter or if they don't pay you have to pay the mortgage still. If you pay cash you can take the time to find a decent tenant or even if it's sitting empty you're good.

 

[Trajan]

What boroughs are you thinking of ? I'd avoid renting out property in hood areas. My dad has properties in hood areas and honestly the tenant experience has been hell.

I can imagine. My boy works in property management and he told me they don't fukk with tenants on benefits lol.

The thing with the hood areas is once it's gentrified then you're laughing. Depending on the area...your dad could be Have you seen Brixton recently??

LONDON is turning inside out. That, anyway, is roughly the argument of a couple ofpieceswe have published recently. Just as affluent young professionals seem to be staying in the inner-city longer, turning places such as Dalston (in Hackney) and Peckham (in Southwark) into hipster enclaves, so too are the outer suburbs getting poorer, as people who cannot afford inner-London rents are pushed further out.

By contrast, the places that have gone downmarket are in Metroland—the 1920s and 1930s railway suburbs stretching west of Acton and Willesden or around Ilford. These are the middle-class suburbs where commuters move when they have children. But of late, house prices in those parts of suburban London have stagnated, even as inner-London ones have soared ahead. In recent years, the outflow of people to the Home Counties has not been matched by the inflow from inner-London, and so population increases have been sustained by immigration and births.

http://www.economist.com/blogs/blighty/2013/09/mapping-gentrification



I'm thinking Barnet at the moment tho.

 

[IronFist]

Anyone here have a or know the ins and outs of a non-profit? How does one really start to make $ as the founder?

this is something i need info on as well, also if anyone has any info on obtaining a LLC, let me know.

 

[IronFist]

interested to gauge your ideas

Well, been wanting to get involved in a NPO for awhile, right now im doing some volunteer ish, its cool but, im discovering alot of red flags on the business side of things, and thinking of venturing off

 

[Theraflu]

Well, been wanting to get involved in a NPO for awhile, right now im doing some volunteer ish, its cool but, im discovering alot of red flags on the business side of things, and thinking of venturing off

Yes, it all seems very complicated and I remember when I was doing research and I learnt it is essential that you take on some sort of formal structure, like an association. This is not just for banking purposes, but to ensure that you are not classed as a business for tax purposes.

This is a forum where people who own charities (and business owners) post so you can do some poking and searching on there. It takes them quite a while to make any money however there is potential post http://forums.moneysavingexpert.com/forumdisplay.php?f=27

Don't forget Google Grants for non profits too which gives non profits and charities $10,000 worth of adword marketing https://www.google.co.uk/grants/ . There are web designs who works for free on non profit sites too lol so the start up would be essentially free and the marketing on Google....

 

[Theraflu]

I can imagine. My boy works in property management and he told me they don't fukk with tenants on benefits lol.

The thing with the hood areas is once it's gentrified then you're laughing. Depending on the area...your dad could be Have you seen Brixton recently??





http://www.economist.com/blogs/blighty/2013/09/mapping-gentrification



I'm thinking Barnet at the moment tho.

I agree with this 100%, it does have the potential for long term gain. But God the people those areas attract, I guess you could use an estate agent to make sure credit checks are done and they are vetted properly to avoid the nuisances.

Barnet though ? Does it have the potential for young professionals, I remember Barnet as being more family oriented..... or is my memory failing me ?

 

[IronFist]

Yes, it all seems very complicated and I remember when I was doing research and I learnt it is essential that you take on some sort of formal structure, like an association. This is not just for banking purposes, but to ensure that you are not classed as a business for tax purposes.

This is a forum where people who own charities (and business owners) post so you can do some poking and searching on there. It takes them quite a while to make any money however there is potential post http://forums.moneysavingexpert.com/forumdisplay.php?f=27

Don't forget Google Grants for non profits too which gives non profits and charities $10,000 worth of adword marketing https://www.google.co.uk/grants/ . There are web designs who works for free on non profit sites too lol so the start up would be essentially free and the marketing on Google....

props going to look into this ASAP

 

[Theraflu]

props going to look into this ASAP

 

[Heafcliffe]

Hmmmmm do you have a particular cause you are interested in or are you hoping to go into it purely for the money ? The latter isn't advisable as they take a very long time to garner that support.

Yeah, I do have a cause. Deal with DC/ MD/ VA students and their future. Over the last 2 years, I have been receiving much support (and letters of support) from HS principals, school board administrators, charter school board members and after-school programs.

I love it and it is something I can quit my 9 to 5 in order to do. Just want to make sure I would be financially able to do so.