Ask HN: What would you do with $1M?

Re:Ask HN: What would you do with $1M? by codegeek on Thursday May 30, 2024 @01:37PM (#40526454)

Personally, I would buy a business that does about 250k-300K in yearly profits. A business I can run with a small team as needed. Now I am generating a 25-30% yearly return (yes, I am working on the business too and not totally passive but there are businesses like these you can spend may be 15-20 hours a week).

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Re:Ask HN: What would you do with $1M? by zmz88 on Thursday May 30, 2024 @02:07PM (#40526842)

What kind of business? Sounds like you'd be spending the entire $1M on it?

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Re:Ask HN: What would you do with $1M? by codegeek on Thursday May 30, 2024 @02:14PM (#40526917)

Yea. I usually pay 2.5x-4x of profit multiple and mostly for small software businesses.

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Re:Ask HN: What would you do with $1M? by zmz88 on Thursday May 30, 2024 @02:21PM (#40527011)

Would you really be willing to spend 100% of your money on one business?

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Re:Ask HN: What would you do with $1M? by codegeek on Tuesday June 04, 2024 @11:45AM (#40575791)

I do run multiple businesses already. But I have learned that below a certain number or revenue/profits, it is not worth my time. So I would buy something that has a minimum threshold of revenue/profits and if that means I can only buy one for now, I will.

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