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i need to make some money again

S

spencerhenry

New member
my line of credit with the bank is coming due, started it 10 years ago to help finish spec houses and be able to buy things when i found good prices. they want tax returns, financial statements and such. i used to make a couple hundred thousand a year, but about 6 years ago i needed a break. i needed a break but right at the same time got dumped by my girlfriend the same day i was going to pop the question. i spent a couple of years racing, working a little logging, milling lumber and selling firewood. after a few years of spending more than i was making i got my shit together somewhat and tried to make some money again. i knew when i go out of my other business that processing and selling wood didnt pay well. at one point i decided to give up on trying to make money with wood and go back to what i used to do, but then the economy was pretty bad and residential construction was virtually non-existent.
i did quite a bit of sawmill product this year, and a good firewood year as well, but when i saw my total deposits for the year it was quite a bummer. i used to make as much in one month as i did all last year. and with the wood business i have a bunch of money in fuel, logs, and parts. if i hadnt paid off my house when times were good i would be screwed right now. last year was the first year since i was 16 that i didnt have to file a tax return, i didnt even know that was possible.
i have been racking my brain for many months trying to figure out something to do to make real money again. i was going to start a bullet casting business to add to all my other non-living incomes, until i found out that i need a class 6 ffl. i sell as much firewood as i can, but just cant ever sell enough to make living. i have plans to try a retail location on the highway, but that isnt until next fall, and it is still seasonal. the sawmill just doesnt get enough business and honestly i get bored with it real quick, and it seems to take a bunch of time to maintain and clean up, and after spending $800 in parts in december i am wondering if it is worth it at all.
i have not had a job working for someone else for over 18 years, i dont think i could go do the hourly thing again.
 
Since folks are not buying and building as much maybe the home improvement business would be a way to earn some cash.
 
Exactly how much money is "enough to make a living?" Some folks can get by on $20k annually, and some need $50k+. How deeply in debt are you, and is your required line of credit payment a baloon payment? How many "toys" do you have sitting around that could be converted to cash to reduce your debt? Sounds like you're blowing around in the wind with no keel or rudder to keep on track, which is probably because you don't have a track, vision, goal or plan to work towards.

You need to assess where you're at, where you want to be, and what you are willing to sacrifice to get there. There's no magic formula for financial success that can be dropped in your lap to get you out of the situation you put yourself in. To say you can't work for someone else is simple arrogance, and it tells me you're either not hungry enough or disciplined enough to hold a job. You've essentially been working for yourself on an "as needed" basis to get by, and now that the shit is about to hit the fan you're scrambling to scape up enough cash to just get by...again.

I was in a similar situation 10 years ago when my $100k+ job was eliminated. At 51 years of age nobody wanted to hire me because I had too much experience for most jobs, and I was considered "over the hill" and a "liability" on their health insurance policy because of my age. Besides that, they could get a kid out of college to do my job for a fraction of what I was being paid. Fortunately I had zero debt, so I just needed enough money to eat and keep a roof over my head. So I started a handyman business with a truck full of tools that I already had, and put my unemployment checks into newspaper ads to get my name out. I still own and operate that business today and make a comfortable living doing so, and have learned to live on a lot less than I ever expected. Oh, and I also manage to put something away ever year towards my retirement, and I do it on a fraction of my previous salary. It CAN be done with discipline and desire.

I would not presume to tell you what to do to get back on your feet, but I would encourage you to look inside yourself and find what talents you possess, and find a way to channel that talent in order to create wealth. Even a hobby can be turned into a job if you're willing to go out and sell what you have. You may also need to go into minimalist mode (if you're not already there) as far as your spending, because it sounds like you have been treating yourself pretty well on your line of credit. Spending directed at creating wealth is money well spent, but going to the bar or the movies and pissing away your cash is not a wise thing to do.

Sounds like you're almost getting hungry enough to get tough on yourself and start focusing on digging yourself out of the hole you're in. Good luck and happy digging.
 
i have no debt. my line of credit has no balance, but is going to expire. i was handy to have when i found a machine for a great price, i could just write a check.
i make money, but i am not satisfied with what i make. i spend less money on living expenses, clothes and the like than anyone i know. i dont go to town unless i need to, i dont drink beer anymore, i got a pay as you go phone, sold off several machines. i am about as efficient as i can possibly be. but i am tired of being broke, i havent been out of town for any purpose in over a year, i havent been to a bar to get a beer and socialize in close to 2 years. i work as much as i used to, but make far far less, i am getting tired of constantly having to deal with people using up an hour or more of my time for $20 worth of wood.
i have plenty of skill and experience, but the opportunity to make real money is non-existent right now. i can survive on what i am doing right now, but i am tired of "surviving".
 
You could always come to North Dakota. Lots of jobs in the oil fields and plenty of work building homes for the boom out there. The only problem is no housing.
 
Spener,

I am thinking you could go to North Dakota to help build housing, as it may be one of the only places housing is being built. I am correct REDDOG? I am assuming alot here...

It is locgical to me that there would be building eventally taking place there.

Regards, Kirk
 
Minot was flooded with a lot of homes totally destroyed. Williston and Dickinson areas they are building housing like crazy. Bismarck is going great to. I am planning on building next year. Am fortunate that my neighbor at the farm is a builder and I caught him at the right time before he received an order for five homes next year.

The only problem is housing in the western part of the state for all the people including those doing the building.
 
i thought about ND, but i have commitments here. i caretake for the neighbors, it doesnt pay much, but enough that i cant blow it off.
 
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