FINANCE??

Viewing 4 posts - 1 through 4 (of 4 total)

insider
Member
@insider
Join Date: 2002
Post Count: 64
November 11, 2002 - 2:51 pm
The query I have is regarding finance. I am curremtly earning about $2400 gross a month. I have $50,000 dollars in the a segregated trading account. My question is this. Can one purchase multiple cash flow positive properties given that I am only earning a low income. Sorry if this question seems very novice like but I am yet to to reading on property investment.
My second question is on correct structures. If for example you have registered a company how does on obtain finance when the entity has proven income. Do you as an individual go gurantor for the company??
Thanks
David
Steve McKnight
Keymaster
@stevemcknight
Join Date: 2001
Post Count: 1,763
November 12, 2002 - 12:02 am
Hi David,
You ask…
quote:
Can one purchase multiple cash flow positive properties given that I am only earning a low income.
The answer is not can I, but how can I.
You can do anything when you start to focus on the solution rather than the problem.
You also ask…
quote:
for example you have registered a company how does on obtain finance when the entity has proven income.
You are correct in your answer re: going guarantor. Well done on offering a possibility for a solution.
So taking it a step further… the amount that the company is limited to borrow is constrained by the lending limites of the individual guarantors.
Note that other businesses can go guarantors too though… it does not just have to be “real” people.
Bye
Steve McKnight
**********
Remember that success comes from doing things differently.
**********

Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.com
Success comes from doing things differently
JP
Member
@jp
Join Date: 2002
Post Count: 11
November 14, 2002 - 4:39 am
Hey David
As far as finance goes, it is an area where you are usually better off engaging the services of a switched on independent broker, who can sort through your personal situation and present you with a number of choices. There are so many loan products out there and it’s important to get the one that best suits your individual situation. As Steve has rightfully pointed out, it’s not IF it can be done, but HOW.
I recently heard someone say that they’re not going to say they “can’t afford something” (as we all do from time to time, depending on who’s asking!!) but rather, “I choose not to afford it”, as that’s usually the case. Something to think about anyway
Jacqueline
Freedom_2
Member
@freedom_2
Join Date: 2002
Post Count: 23
November 20, 2002 - 6:38 am
How can i afford it,is positive thinking that can only stimulate your mind to find the answers.