“You are not going to get a pre-existing good business for $150,000. Any business is only worth its accounts and how much net profit it makes. a business that nets about $30,000 a year is maybe worth $150,000 which is not alot of money to make and live on. At 5 times P/E for $100,000 income you would need to spend $500,000 for a business.”
This is COMPLETELY false. For a non-passive business its usually 2-3 times net. Not 5. A business that nets 30k you can usually buy for 60-90k.