Dreams & Pipes

[glatt]

I imagine that #2 is the most likely to work. There are so many ways to screw up numbers 1 and 3, but number 2 is much more fool proof. Of course, the payoff for #2 is smaller.

[glatt]

If a small flat isn't safe, then a house is even less safe. Building a house,there are so many things that are outside of your control, it's potentially very dangerous. Most first time builders lose money on their houses when they sell them or else end up earning what amounts to less than minimum wage once they compare their profit to the hours they put in. It's a very delicate balancing act. You need to build a cheap house to make a good profit, but if it is too obviously cheap, nobody will buy it. You have to know where to spend the money. Does the market there require marble countertops? Or does some man made product do? You can use the highest quality building materials, but then that eats into your profits.

Here's a very good thread on the topic. The market and building style is probably different from your area, but the advice is sound. Building a house for profit

Maybe you should go with the booze peddler idea. When I worked in a corner convenience store in my youth, we made all our money on booze, cigarettes, and lottery tickets. The rest of the items were really just for show to get people to buy the 3 top money makers. I have no idea what your town is like and if it will support another establishment like that.

[glatt]

Now that I think about it more, the more I like the flat idea.

Say the bottom drops out of the housing market. The last thing you want to be doing is trying to sell a house for profit. You will lose money.

But owning a flat wouldn't be so bad. Not many people will be buying the low priced houses out there, because the interest rates will be so high, they still can't afford to buy a house. That means there will continue to be a lot of renters. You should still be able to rent your flat out and make your money. Now if your idea of buying a flat is to sell it for a profit, then it won't work. But holding a flat and renting it out should be OK.

The bar idea could be really good, but there are a lot of regulations governing places like that and I understand it can be complicated. If it's a busy college town, you can probably make decent money, but it's a lot of hard work. If you aren't there all the time, your profits will walk out the door as your help gives away free drinks etc.

I like the flat idea because you put in a minimum of effort and get a steady income. Only real risk is if the place is falling apart and you have to constantly fix it.

[Troubleshooter]

My family lost everything in a bad purchase of rental property.

Make sure the the flat, the building the flat it in, etc. all up to all building codes. Hire a professional inspector, don't count on the fire marshall.

It's a great way to generate recurring income, just be careful.