newworldicon
Well-Known Member
Doing all the maintenance myself helps though!!
Is It Possible To Make Living Off Growing?
- Thread starter Dicked
- Start date
Okay thanks. So lets say i buy a cheap house. I have about $4000 to start off with. I am living with my parents and can do a small grow in my room to make some cash. What if i claim i make 2000 a month from my pizza job because i make tips. So cant i just say i make a lot of money from tips?
tip top toker
Well-Known Member
You have a legal obligation in the US to report your tips for tax purposes. And if someone told me they made 2K a month from being a pizza boy, the first thing i'd think was that they were lying or the money was not quite from the source stated 
And don't grow in your parents house unless you get their permission, you growing could fuck up their lives.
Maybe you should try just growing for yourself before you start thinking about these whole house ideas. Way too much risk and knowledge at that scale to, from the sound of it, be winging it.
And don't grow in your parents house unless you get their permission, you growing could fuck up their lives.
Maybe you should try just growing for yourself before you start thinking about these whole house ideas. Way too much risk and knowledge at that scale to, from the sound of it, be winging it.
newworldicon
Well-Known Member
This is ludacris, can you really just go out and buy a cheap house, if you really were in that position you would have been thinking that way long ago, not looking at renting a spot. And on a pizza delivery job how do you manage to secure a mortgage??????
abe supercro
Well-Known Member
find a friend to partner up w/ for the first year or so. easier to rent a place and help w/ momentum and work load. good luck.
you need 20% down on a purchase, great credit and at least 3 yrs of tax returns documenting a substantial income. first things first. climb the rungs of the ladder from right where you are standing. it may take 3-5 yrs, maybe 10.
you need 20% down on a purchase, great credit and at least 3 yrs of tax returns documenting a substantial income. first things first. climb the rungs of the ladder from right where you are standing. it may take 3-5 yrs, maybe 10.
FrankDank420
Member
It´s best if you own the property, have total control over it and get along with your neighbors.
Wouldn´t say that renting is not an option, I´ve done it several times, but it´s not the best and you have to make sure the contract is stipulated in a way that favors you with access policies to the property. It´s all about the contract, don´t like it don´t sign it, why submit yourself to inspector landlord.
Look at it this way, if you´re responsible for the property under contract obliged to hand it back over as you received it.
Consider selling first, buy wholesale and distribute to build your clientele.
Forget the police, are you ready to defend your grow show from an invasion? Or will you sit there unarmed, waiting to be hog tied?
Wouldn´t say that renting is not an option, I´ve done it several times, but it´s not the best and you have to make sure the contract is stipulated in a way that favors you with access policies to the property. It´s all about the contract, don´t like it don´t sign it, why submit yourself to inspector landlord.
Look at it this way, if you´re responsible for the property under contract obliged to hand it back over as you received it.
Consider selling first, buy wholesale and distribute to build your clientele.
Forget the police, are you ready to defend your grow show from an invasion? Or will you sit there unarmed, waiting to be hog tied?
Okay so i think it is possible to find a partner to do this. I have a lot of money to start off (about $4000) and while im growing in my room now im hoping to make a couple thousand more before i move out. And i'll be looking for a house around $200,000. So does does this seem more reasonable?
Snow Crash
Well-Known Member
Wait... Just how many people on this site own their homes??? I was under the impression that no more than 50% of us actually own the place we are growing in.
I guess coming from California it's just odd to hear about all these actual "home owners" who spend there time here growing pot and dicking around on the Internet.
I mean, sure, I spend about 1/2 of what could be my mortgage but this allows me to save my money and have fun. Some day I'll buy a house but right now I don't find it necessary. Not sure where I'd like to settle down anyway.
I guess coming from California it's just odd to hear about all these actual "home owners" who spend there time here growing pot and dicking around on the Internet.
I mean, sure, I spend about 1/2 of what could be my mortgage but this allows me to save my money and have fun. Some day I'll buy a house but right now I don't find it necessary. Not sure where I'd like to settle down anyway.
Snow Crash
Well-Known Member
You are asking pot heads for real estate advice???
You just said you want a "partner" in all this...
Fuck man... I'm not about to suggest either of those. You don't just "buy" a $200,000 house with $4,000 cash and a pizza delivery job. You need considerable savings and a relatively decent credit score to get the loan in the first place. Unless you drive a $40,000 car that you can put up as initial collateral (fully insured)then you'll get nowhere fast.
Get your home buying advice from somewhere else dude.
abe supercro
Well-Known Member
It all depends on where you are... in the US, wherever. some places had low property values before the RE Market went to shit. Now sellers are so desperate, buyers can find rent to own, or seller financing. thus they can get into a property without all the stringent bank qualifications. Guessing that this will be the best bet for you.
Renting isn't a bad way to go either, just be firm w/ your potential LL and make it clear that you'll pay on time in return for privacy. BTW, no disrespect, but $4,000 is clearly not a lot of money by most peoples standards. You'll eat up twice that just moving into a place and buying half of your equipment. start small, be realistic.
Consider finding an investor and then get them out of your business asap. do not buy a home w/ someone else. this could really complicate your life. good luck
Renting isn't a bad way to go either, just be firm w/ your potential LL and make it clear that you'll pay on time in return for privacy. BTW, no disrespect, but $4,000 is clearly not a lot of money by most peoples standards. You'll eat up twice that just moving into a place and buying half of your equipment. start small, be realistic.
Consider finding an investor and then get them out of your business asap. do not buy a home w/ someone else. this could really complicate your life. good luck
Snow Crash
Well-Known Member
Would you "invest" in someone who didn't have a portfolio of experience?
Partner, no.
Buy a house? Yes if you can, but if you could then why would you be renting?
I suppose if you live in some of the butt holes of america you could find a foreclosure at auction for a low price. I know that 2br/2ba Condos in Las Vegas go for like $25,000 right now. Florida is about the same with townhouses selling under $30,000.
The above poster is right. You're equipment investment will be between $1,000 and $2,000. Probably closer to the higher end. You could always spend more...
If you can manage to put together about $7,000 and you happen to want to live in a <$30,000 hovel then you can probably go for it...
I happen to have a very good friend (whom I do business with) that was a CA real estate agent for his families agency. The market tanked and now he's up here in OR studying renewable energy. I also had my Realtor's license in CA but chose not to renew it. The purchase of a home is a big event in a person's life and you need to prepare yourself for quite a few "extra" expenses when purchasing them.
Property tax and insurance alone is a few extra thousand a year that non-homeowners are completely naive about.
Partner, no.
Buy a house? Yes if you can, but if you could then why would you be renting?
I suppose if you live in some of the butt holes of america you could find a foreclosure at auction for a low price. I know that 2br/2ba Condos in Las Vegas go for like $25,000 right now. Florida is about the same with townhouses selling under $30,000.
The above poster is right. You're equipment investment will be between $1,000 and $2,000. Probably closer to the higher end. You could always spend more...
If you can manage to put together about $7,000 and you happen to want to live in a <$30,000 hovel then you can probably go for it...
I happen to have a very good friend (whom I do business with) that was a CA real estate agent for his families agency. The market tanked and now he's up here in OR studying renewable energy. I also had my Realtor's license in CA but chose not to renew it. The purchase of a home is a big event in a person's life and you need to prepare yourself for quite a few "extra" expenses when purchasing them.
Property tax and insurance alone is a few extra thousand a year that non-homeowners are completely naive about.
Well actually its funny, i actually am driving a $40,000 car that i can put down as collateral. So i shouldnt get a partner and by the time i decide to move out, i will probaly have about 10,000 saved up. And where i live(maryland) there are a lot of forclosure homes. So i will invest in a lot of equipment and just start off trying to grow 8 or 9 oz a month and i will expand my products after things get going well and i can afford to buy more equipment. Like i said, selling 2 oz a week is really no problem at all with where im living. People here do whatever they can to get bud and are willing to pay rediculus prices for them(500 an oz or $25 for just one gram). Also, i will be selling for way cheaper than that so customets would come to me more. This should work out right?
TruenoAE86coupe
Moderator
Where do i start here, you can not put your car up as collateral on your house, not how it works. It has been stated here what it takes to buy a house, 3 years of proof of income through taxes. In 2005 you could have got a loan with nothing, but that is why the housing market crashed, doesn't work like that now. A partner is never a good idea, if you can find a way around it do, it never works out the way it is supposed to.
Now on to where are you going to sell it from? The same place you are growing? The issues in that present themselves. If you get busted for selling they find the grow. I never said that SELLING 2 ozs a week was an issue, i said PRODUCING 2 ozs a week is the issue, takes a lot of money in equipment, a lot of learning for timing and all the things that can, and will, go wrong. Think of it this way, to start producing 2ozs a week, expect to put at least $2000 more like $4000 just into equipment, then you have to set it all up yourself, so you need to know plumbing and electrical not to mention some basic construction. Now you have to pay the rent or mortgage for at least 3 months before you have ANYTHING to sell. Not to mention that electric bill and come up with nutrients and etc as it is needed.
You have moved a long way from talking about an apartment and a $500 a month job. So if you really want to do this here is what i would do....
Find a rental or rent to own house, make sure the lease is in your favor as much as possible, and plan to maintain everything in the whole place yourself. May need to buy a cheap phone to put down as your "employer" for the landlord to call and you (or someone else) to answer "Bills shoe shack" or whatever and say you are employed for X dollars a month and you a great employee. Most landlords of houses will treat you as you present yourself so be professional and you will be portrayed as professional. If your $40,000 car is a kids car (nothing personal) use somebody's car thats a little more mature. Sell yourself right and they will never bother you, as long as you have them the rent check on time. Checks would be better to pay the rent with, even if it is a little red flag to the bank, less so to the landlord.
Now it gets tough, try to spend as much as you can but have enough to live for 4-6 months with no return on investment. That will give you some room for error. Now use everything you learned growing at moms house and put it into true action and see if you can get full production. Good luck, stay out of apartments its easier to get into a house if you try hard enough, and watch the details any time you lie about anything. A lot of people work for very small companies, so you don't need to tell them you work at the local Ford dealership, cause their brother could work there. Sorry if i was negative at the beginning, you sounded like a kid who had no clue, and was looking to end up in jail.
I will leave you with this, Loose lips sink ships. So don't tell anybody anything and you could do a lb a month out of a bedroom.
Now on to where are you going to sell it from? The same place you are growing? The issues in that present themselves. If you get busted for selling they find the grow. I never said that SELLING 2 ozs a week was an issue, i said PRODUCING 2 ozs a week is the issue, takes a lot of money in equipment, a lot of learning for timing and all the things that can, and will, go wrong. Think of it this way, to start producing 2ozs a week, expect to put at least $2000 more like $4000 just into equipment, then you have to set it all up yourself, so you need to know plumbing and electrical not to mention some basic construction. Now you have to pay the rent or mortgage for at least 3 months before you have ANYTHING to sell. Not to mention that electric bill and come up with nutrients and etc as it is needed.
You have moved a long way from talking about an apartment and a $500 a month job. So if you really want to do this here is what i would do....
Find a rental or rent to own house, make sure the lease is in your favor as much as possible, and plan to maintain everything in the whole place yourself. May need to buy a cheap phone to put down as your "employer" for the landlord to call and you (or someone else) to answer "Bills shoe shack" or whatever and say you are employed for X dollars a month and you a great employee. Most landlords of houses will treat you as you present yourself so be professional and you will be portrayed as professional. If your $40,000 car is a kids car (nothing personal) use somebody's car thats a little more mature. Sell yourself right and they will never bother you, as long as you have them the rent check on time. Checks would be better to pay the rent with, even if it is a little red flag to the bank, less so to the landlord.
Now it gets tough, try to spend as much as you can but have enough to live for 4-6 months with no return on investment. That will give you some room for error. Now use everything you learned growing at moms house and put it into true action and see if you can get full production. Good luck, stay out of apartments its easier to get into a house if you try hard enough, and watch the details any time you lie about anything. A lot of people work for very small companies, so you don't need to tell them you work at the local Ford dealership, cause their brother could work there. Sorry if i was negative at the beginning, you sounded like a kid who had no clue, and was looking to end up in jail.
I will leave you with this, Loose lips sink ships. So don't tell anybody anything and you could do a lb a month out of a bedroom.
Snow Crash
Well-Known Member
Yeah, I should have phrased the collateral thing different. You have to own the car, outright. You basically borrow against the value of the car, but you don't get the entire value.
Carne Seca
Well-Known Member
I call Shenanigans!
canuckgrow
Well-Known Member
I call under age posting
tip top toker
Well-Known Member
I now call troll or something. Why is a different account responding instead of the OP account? Logged into the wrong one eh?
Snow Crash
Well-Known Member
Good call dude.I now call troll or something. Why is a different account responding instead of the OP account? Logged into the wrong one eh?
Seems to be a lot of that going around recently.
Why do some people have so much time, and small lives?
Carne Seca
Well-Known Member
umm... that's why I called shenanigans.. doesn't ANYONE watch Southpark??? Now grab your brooms. We're going to knock the turds out of this guy. SHENANIGANS!!!!
tip top toker
Well-Known Member
Maybe a more appropriate image would have worked better
Stoners shenanigans good call though, didnt see it though, i tell you all these smartphones and their revelutionary ability, fuck em, mine cost 400 quid and it doesn't work for shit half the time Must admit though, i've watched every single episode of southpark and i can't recall the reference, i'll be the first to say that weed can make your memory SUCK, although ironically people say it's your short term emmory, but from what i've seen, no, you just forget the shit that you said because when you said it, you ewre stoned as fuck
Stoners shenanigans
good call though, didnt see it though, i tell you all these smartphones and their revelutionary ability, fuck em, mine cost 400 quid and it doesn't work for shit half the time Must admit though, i've watched every single episode of southpark and i can't recall the reference, i'll be the first to say that weed can make your memory SUCK, although ironically people say it's your short term emmory, but from what i've seen, no, you just forget the shit that you said because when you said it, you ewre stoned as fuck