Had some extra cash from dividends in my money market account and decided to put it to more profitable use. So I put in an order and picked up more shares of Universal Insurance (UVE: AMEX). I'm currently long on UVE although I have traded in and out in the past. I especially like their dividend yield right now of 9.60%, which beats the you know what out of the return I was drawing from the money market account. They're currently trading near their 52 week low, most likely due to hurricane season, so I'm taking advantage of the low price to increase my stake and boost my return from dividends. I've noticed it's not unusual for the price to drop during spring and summer months and rebound when hurricane season ends in September.
I'm currently sitting on some nice paper profits, but haven't decided to pull any cash out at the present time. I'd like to make a couple more trades where I pull out my initial investment and keep the remaining shares, in effect gaining "free" shares. While I am in a position to do this with a few of my current holdings, I haven't found any new investments that I prefer over the ones I already own. So I'll sit tight for now and keep my eyes open for a good opportunity.
Bought a commercial carpet cleaning machine for $700. I've made a deal with my apartment complex to clean all their carpets as tenants move out. I figure that I can easily earn a 40-50% return on dollars invested in the machine by doing 8-10 apartments per year. But if I only do enough to earn 20% on dollars invested, I'd still get my money back in 3.6 years and everything after that is pure profit. Not to mention that I can clean my own carpets without paying for a rental machine. So I think this may actually be one of my best investments of the year.
Showing posts with label carpet cleaning. Show all posts
Showing posts with label carpet cleaning. Show all posts
Tuesday, July 27, 2010
Wednesday, October 21, 2009
A 100%+ Return On Investment
With the stock market being so uncertain of late and me being without a job, I've been looking for options in the event that I may not find a job before my unemployment runs out or if I'm forced to take a lower paying job. Since I know it's most likely that I will find a job with less pay than I'm used to, I've been trying to think of some way to supplement my income aside from my usual investments.
I did a little research and found that I could purchase a professional steam carpet cleaning machine for around $500. I have cleaned carpets in the past both on the job and as a favor to friends and family members. So this would not be a new thing for me, however I would own the machine instead of renting it.
Going by the number of carpets I usually clean in the spring of each year, it would be no problem at all for me to average at least 3 jobs per month. My average net per job, after expenses, is usually around $50. If I did 3 jobs per month and cleared $150 total, I would make $1,800 per year. Not a life changing amount, but it would fund my IRA or would pay a couple of my bills per month.
Knowing that I may not always do 3 jobs per month, I re-figured the return on investment if I averaged less than 2 jobs per month. If I only manage to do 20 jobs per year and clear $50 per job, I would still make $1,000 total. With an initial investment of $500, that works out to a 100% return on investment for the first year. If I continued to do 20 jobs per year after the first year, I would make a 200% return on my initial investment each year. If you figure the life of the machine will be at least 10 years, my $500 investment would grow to a whopping $10,000! Still not a life changing amount, but it's nothing to sneeze at either. With just a little extra effort I could easily earn as much as $20 to $30 thousand over the same 10 years.
I did a little research and found that I could purchase a professional steam carpet cleaning machine for around $500. I have cleaned carpets in the past both on the job and as a favor to friends and family members. So this would not be a new thing for me, however I would own the machine instead of renting it.
Going by the number of carpets I usually clean in the spring of each year, it would be no problem at all for me to average at least 3 jobs per month. My average net per job, after expenses, is usually around $50. If I did 3 jobs per month and cleared $150 total, I would make $1,800 per year. Not a life changing amount, but it would fund my IRA or would pay a couple of my bills per month.
Knowing that I may not always do 3 jobs per month, I re-figured the return on investment if I averaged less than 2 jobs per month. If I only manage to do 20 jobs per year and clear $50 per job, I would still make $1,000 total. With an initial investment of $500, that works out to a 100% return on investment for the first year. If I continued to do 20 jobs per year after the first year, I would make a 200% return on my initial investment each year. If you figure the life of the machine will be at least 10 years, my $500 investment would grow to a whopping $10,000! Still not a life changing amount, but it's nothing to sneeze at either. With just a little extra effort I could easily earn as much as $20 to $30 thousand over the same 10 years.
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