I was reading Loral Langemier a couple of weeks back. She’s a big advocate of direct investing in business opportunities like self storage, rental real estate and oil wells.
The idea of buying an oil well got me intrigued. So I started looking around on-line. Some small wells can be had for around $150,000 to $200,000. This type of business works based on how much oil/natural gas, etc. you can get out of the ground. The sizzle is that wells can be extremely profitable, especially when gas prices are high.
Since we don’t have $150,000 to $200,000 in cash lying around, this is probably going to be a project for 5 to 10 years down the road, but we’re definitely interested. It looks like a great money making opportunity that could allow us to significantly build our wealth.
Most wells appear to be sold by brokers, so if you want to cruise some of the listings check them out here.
P.s. if you want more on how to value oil well investments, go here.