Wow! I can see a misguided politician already saying something like "Maybe all bitcoin exchanges/wallets/etc need money transmitter licenses or FDIC insurance"
Simple was/is a dressed up version of a prepaid debit card with a good mobile app and a good web ux. Typically prepaid cards net $1-$4 per active user per month depending on the level of fees. An active user is someone that has loaded cash onto the card. So if Simple had 100,000 customer which could translate into 100,000 loaded cards, its gross revenues would be between $100K-$500k per month (1.2-6m per year). My guess is the 100K number is simply customers that ever signed up for it and that their active accounts (loaded cards is much much lower). Kudos to the Simple board, investor and team - selling at that sort of price is unbelievable. I would happily work with any investor who could help me get that sort of valuation for my companies.
I second the Single family rentals (SFRs). Follow the 12% rule which is that the house HAS to rent on an annual basis for at least 12% of purchase price. For example a $100K house has to rent for at least $12K per year ($1000/month). So put 20% down ($20K), get a 30 year fixed for $80K. Your expenses on monthly basis are mortgage + prop tax + prop manager + prop insurance = $500-$600. Rental income = $1000 per month. So you clear $400-$500 per month ($4800-6000/year) per rental property. With 20% down ($20K), that's a ROI of right around 20% before any property appreciation. Note: I didn't include closing costs which fluctuate a fair bit depending on lender and where the property is.
