ReadingRambo
Member
Who gave you 40k with no idea what you would do with it????
Your easiest path forward is to either return the money or purchase another rental property. I don't know how cheap the houses are in the poor parts of where you live but they often generate good cash income especially if they're section 8.
If you can't purchase a rental property with $40,000 then I would return the money.
I'm an accountant also and yeah the work is boring but I would keep at it until you either get promoted to a position that's more interesting, get enough experience to start your own business, or work long enough until you can develop a business plan.
Being an accounting grunt is awful work but at many corporations you'll eventually get promoted out of the monotony and into something a lot less structured and more self driven. If you own your own small CPA firm eventually, the aspects of running the business and dealing with clients is not monotonous either.
Where on Earth could you buy a rental property for 40k?
Who gave you 40k with no idea what you would do with it????
Who gave you 40k with no idea what you would do with it????
I am a licensed CPA but I don't have enough experience to open my own firm and I'm starting to think that it was the wrong career for me because accounting is boring.
this this this thisPay off your loans immediately and bail the fuck out Jesus Christ dude.
I have a feeling those of you asking this didn't actually read my OP. I had an idea, and now it looks like it might not work out. I was looking for backup plan ideas, but instead this thread is full of criticism for my life choices so I guess this thread was ill-advised.
To the person who suggested opening a card shop: Thank you but unfortunately the Charlotte market is currently flooded with card shops. I wouldn't get very far. But I sincerely appreciate the idea.
What was the ideaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
The idea was to start a futures market on Magic the Gathering cards, letting people buy options for them so they can speculate without actually buying the cards.
The snag I've run into is that I need access to a Magic card pricing app in order to make this happen, and the only one that's been even mildly cooperative keeps putting me off, saying that the API will be ready "in a few weeks" for over a month now. So my hopes are dimming that this will work out.
I have a feeling those of you asking this didn't actually read my OP. I had an idea, and now it looks like it might not work out. I was looking for backup plan ideas, but instead this thread is full of criticism for my life choices so I guess this thread was ill-advised.
To the person who suggested opening a card shop: Thank you but unfortunately the Charlotte market is currently flooded with card shops. I wouldn't get very far. But I sincerely appreciate the idea.
The idea was to start a futures market on Magic the Gathering cards, letting people buy options for them so they can speculate without actually buying the cards.
The snag I've run into is that I need access to a Magic card pricing app in order to make this happen, and the only one that's been even mildly cooperative keeps putting me off, saying that the API will be ready "in a few weeks" for over a month now. So my hopes are dimming that this will work out.
You did this in the wrong order, OP.
Idea first then the money. Not the other way around.
Pay off your loans immediately and bail the fuck out Jesus Christ dude.
Return it. Come back to the banks when you have a new business plan.
Some probably didn't read, but you also threw some really random stuff in there, like the part about directing, that probably made people think you have no idea what you're doing or trolling. And like others have said if you got a business loan you usually have stipulations of how you spend it. If you just borrowed against one of your homes, it's probably not a good idea to just spit ball with $40k. Return the money, brainstorm, research, develop a new business plan, and try again.I have a feeling those of you asking this didn't actually read my OP. I had an idea, and now it looks like it might not work out. I was looking for backup plan ideas, but instead this thread is full of criticism for my life choices so I guess this thread was ill-advised.
To the person who suggested opening a card shop: Thank you but unfortunately the Charlotte market is currently flooded with card shops. I wouldn't get very far. But I sincerely appreciate the idea.
....Wait, did you actually go to the bank, sit down, and pitch this idea to the bank loan officer?The idea was to start a futures market on Magic the Gathering cards, letting people buy options for them so they can speculate without actually buying the cards.
The snag I've run into is that I need access to a Magic card pricing app in order to make this happen, and the only one that's been even mildly cooperative keeps putting me off, saying that the API will be ready "in a few weeks" for over a month now. So my hopes are dimming that this will work out.
but instead this thread is full of criticism for my life choices so I guess this thread was ill-advised.
I like to play board games and puzzles. I've been into Magic the Gathering for 23 years. I follow politics very closely and consider myself a left wing social justice warrior. I am a licensed CPA but I don't have enough experience to open my own firm and I'm starting to think that it was the wrong career for me because accounting is boring. I like musical theory but I'm not very talented at performing. I really enjoy ballroom dancing and spent 9 months as an instructor at Arthur Murray. I am not very charismatic in person usually. I am an okay writer, but not good enough to make a career of it. I currently own three houses, two of which I am renting out at a tiny profit, and I am interested in eventually acquiring more real estate but I don't think I have enough capital to actually do that. I think I would make a great director for either movies or theater but I have no idea how to hone that skill.
The idea was to start a futures market on Magic the Gathering cards, letting people buy options for them so they can speculate without actually buying the cards.
The snag I've run into is that I need access to a Magic card pricing app in order to make this happen, and the only one that's been even mildly cooperative keeps putting me off, saying that the API will be ready "in a few weeks" for over a month now. So my hopes are dimming that this will work out.
Every following sentence is funnier than the previous one:
You are either trolling or very immature / not ready to do your own business. Starting your own business for the sake of starting a business will fail, and none of your "skills" listed before make us confident that you will succeed. You are free to do what you want, but you can't complain about the criticism from the thread when most people came up with the best option to help you: give the money back.
Pay off your loans immediately and bail the fuck out Jesus Christ dude.
Weed.
This seems like a bad idea.