How To Work Remotely in This Economy
The Sharing Economy Is Growing I think we are in a really exciting time for all generations as the sharing economy is growing. In this post, let’s look at companies that allow you to work remotely instead of for one employer and predict How to work remotely in this economy. Traditionally, you would graduate from college and be at the same job for 30 years. Consequently, you would then retire at age 65. You would then go down to sit on the beach in Florida until you die. I think that is changing. I see both baby boomers and millennials getting remote, freelance jobs. Uber: The ‘Work When You Want To Revolution Look at Uber. The majority of my drivers are either split into two categories, one, retired and do it for extra money. In fact, in my hometown, there’s a gentleman that used to be a dentist that is retired that Ubers and has the nicest Acura I have ever seen. It’s got to be an $80,000 or $100,000 four-door sedan. I’m a very tall guy. I can sit in the back with no problem, leather interior, gorgeous car. He was a dentist and he does it because it forces him to get out of the house and it brings in extra income for his family in retirement. The other group that I see in working with Uber are people who already have a 9 to 5. They are picking up extra ways to make money at night and in the evenings and on weekends that can also bring in additional income. Hopefully, they’re not using it to keep up with the Jones’s. Hopefully, they’re using it to pay down debt or to increase their savings rates. The Traditional Model is No More But this idea that you can work when you want to, where you want to, is very fascinating. I think if you blend this into the tiny house movement and minimalist movement. You could live wherever you want. You go back to the traditional model of getting a job at the same company for 30 years, a lot of our parent’s generation, the baby boomers, stayed within the same town for the majority of their life or were forced to move to towns that they didn’t find appealing only to continue to have that job. That does not sound like something I’m interested in at all. You also have companies like Upwork and Freelancer that allow people to work from anywhere in order to make a living. They work on their own time. The job turns on when they want. They can accept a job when they want, and when they don’t, they can turn off their phone or the app on their phone and they do not need to go work. Freelance Opportunities May Help Your Retirement Goals I look at my dad who wants to retire and I think that he and his wife could if they were willing to do some type of freelance work, but they didn’t make great savings choices during their working years (not their fault, job changes, and layoffs and low paying jobs), so now they are strapped for cash in retirement and they do not want to get a part-time job at a physical location where they have to drive in. I think the idea of working remotely, being a freelancer, traveling to their grandkids’ house, they can turn on and off when their grandkids are at school, that flexibility is really appealing and I wonder why we don’t see more of this. Learn How To Work Remotely in This Economy To wrap this up, does anybody have any business ideas that would help the sharing economy? If they do, please contact me, I would love to explore these ideas with you.
Death of the Triple Net Lease
I was into residential real estate back in the mid-2000s until I got crushed. Part of my goal was to flip enough houses to save up $200,000 so I could buy a triple-net lease investment property. It never happened then, at least not yet 🙂 What Is A Triple Net Lease What is a triple-net lease property? A few examples you may know are stand-alone Starbucks; stand-alone Dollar General; stand-alone Walgreens; any stand-alone retail store(s) that are backed by corporate names. The reason why you would want to buy something like that is that you could put your $200,000 down on a million-dollar property and Dollar General or Walgreens would give you a 15-year, 20-year, or sometimes even a 30-year lease. Starbucks was always an 8 to 10-year, or 12- or 15-year lease. There were a few Walgreens, depending on the location, that would give you a 30-year lease as well. Wikipedia defines Triple Net as “A triple net lease (Net–Net–Net or NNN) is a lease agreement on a property. The tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three “Nets”) on the property. Additionally, they agree to any normal fees that are expected under the agreement (rent, utilities, etc.).” Are You Ok With Putting All Your Eggs In One Basket? This means that the investor signs the lease. The tenant, not the owner, is responsible for the taxes, insurance, and maintenance for the duration of the lease. When looking at real estate and having a hands-off approach, there is nothing better than having a corporate tenant that will guarantee the lease and pay all the carrying costs. That is if you are OK with putting all your eggs in one basket. I would argue that this is just a piece of your investment strategy. Meaning, if you are looking for monthly income, this is one spot out of five or ten. Diversification On Location Diversification on location and corporate client is very important. This post stems from a conversation that I had with my Aunt. I had to write about it. My Aunt has a theory that everything is moving online. Amazon, or the Amazon of the world, is crushing individual retailers. Take a look at your buying habits. Who remembers Sam Goddy or Radio Shack? What happened? iTunes and Amazon. How is Amazon changing Home goods? Is Amazon changing Best Buy? Do you feel that Amazon is changing Walmart and Walgreens? Old Habits Diehard My Aunt’s theory is that she believes in the old school shopping malls. The malls where all the stores are under one roof. Where everything is facing inward and you remember walking around them as a teen and “hanging out”. Most have a central hallway of sorts, either one story or two. She believes these types of properties are going away. The structures will stay, but their existing function of retail space will be replaced by a new, “micro-manufacturing community”. Multiple storefronts will turn into small manufacturing facilities, or storage units, for individual companies who want to have a retail and shipping location but also could double as a storefront. They have a parking lot for the trucks. The buildings have the warehouse docs for the distributions. The property even has individual gates that can be blocked in order to store products. I think she is on to something. DIY Spaces Where People Can Gather to Create, Invent & Learn If you look at the maker space movement, defined here: “Makerspaces, sometimes also referred to as hackerspaces, hackspaces, and fablabs are creative, DIY spaces where people can gather to create, invent, and learn. In libraries, they often have 3D printers, software, electronics, craft and hardware supplies, and tools, and more”, which would allow for a transformation of this old-dead type of real estate. I speak around the United States and I talk about how we are in the “McDonald’s economy”. Everybody wants everything now, now, now, now. When we buy things on Amazon in many cities, you can get your purchase that day or the next day. Even if you are in a rural area, you can get it in 2 days. Look at the long-term view of the triple net lease of a brick-and-mortar store. I think the only survivors in that space are going to be the ones that offer services. For example doctors’ offices, dentists, and gyms. The spaces where people need to go to see somebody or physically do something, and not simply purchase products. As you look at building out your real estate portfolio, you may want to consider this.