What to do

Viewing 3 posts - 1 through 3 (of 3 total)

hazza52
Member
@hazza52
Join Date: 2004
Post Count: 8
May 13, 2005 - 4:39 am
Anyone
I am self employed contracting to a major gas company 1 week out of a fortnight as a gas fitter.
On my week off I like to work on setting up investment income.
Equity in my own home is 150.000
What options without having to increase monthly payments to much.
Do I use the full 150K or just take it easy on that.
Is it a good idea purchasing the WRAP kit and study this first.
I am new in this and have no idea.
I did a lot of work for landlords as a gas fitter and found a lot of heartage because of tennant vandalism and I am a bit heldback.
Can somebody please help me out here.
Thanks
Harry
Regards
Harry
chrisholt452
Participant
@chrisholt452
Join Date: 2005
Post Count: 26
May 14, 2005 - 10:58 am
Hi Harry
My advice is to buy the WRAP KIT and study it if you are interested in vendor financing – i.e. becoming the bank. Good way to get + cashflow without the hassles of tennants.
Teach
Just about to get into P/I in a large way with an aim to early retirement and having fun along the way.
Kiwi-Fulla
Member
@kiwi-fulla
Join Date: 2002
Post Count: 371
May 14, 2005 - 1:52 pm
Hey Harry,
Good on you for asking questions.
Most landlords that complain about vandalism and vacancies non paying etc…. either:
Do not have the correct insurance in place, incorrect property managers, bought in the war zone, Not a thorough enough check in tennants (or a combination of these.
The more entry and exit strategies you learn the better …. but only if you put one or two of them into practice and do not end up sitting on your hands wondering if any of it owrks at all.
Hope this sheds some light to some of the darker nooks and crannies!
Cheers
Kiwi
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