QUESTION: Master Bill, my family is in the funeral home business. I can walk into this job and make a good living but it’s not what I really want to do. I want to be a real estate investor. To me, the funeral business is, no pun intended, a dead end! What should I do?
ANSWER: My young people would envy your position. You don’t have to worry about getting a job or making a good salary.
I would think long and hard before giving up this opportunity.
You can run a very lucrative real estate investing business part-time and your family business can provide you with the resources to fund your real estate investments. After 20 years of real estate investing, maybe less, you should have sufficient monies to retire to full time investing.
I would also be thinking about ways to combine the funeral home business and real estate investing. You know the funeral business. You know the real estate requirements of the business. Perhaps, you can think of a strategy to buy funeral homes and then lease the properties to other operators?