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Old 10-19-2008, 02:59 PM
RockSet N' Grade RockSet N' Grade is offline
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Join Date: Jan 2006
Location: Kaysville, Utah
Posts: 2,454
I do not know the ins-and-outs of the rental business or the formula's they have worked out for a successful business model. What I do know is that some smaller operators around here have tried renting out their machines to create a second source of income and they come back trashed in a big way. The expense outweighed the potential for income.
I too have been looking at alternatives and have done quite a bit of research on active and passive incomes and businesses that thrive during depressions or recessions........and there are some industries that shine ie: auto repair shops, tire stores, movie theatres, alcohol/cigarettes just to name a few. That would be considered active income........passive income area would be the stock market in selective sectors: during the "depression" or past recessions there were sectors that actually had extended rally's ( of 9 months or more ) while the majority of the market fell through the floor. What you are asking is the $64.OO question and everyone ( from ultra rich to every day on the street guy) is asking.......
I have been looking at trying to find repo and off-lease equipment to purchase.....trying to develop those contacts and uncover that niche is a challenge, but I am still pushing. We are also looking at purchasing apartment units, purchasing a liquor store, purchasing a piece of land in California in San Diego are in which we are going to plant high end palm trees which will be salable in 10-15 years and other ideas.......I think this is a time to really stretch the limits of thinking outside the box and a great time to take a risk. To me, this is a once in a lifetime opportunity........but finding the opportunity is the tough part..........
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