All Topics / Help Needed! / sole parent ,eager turn $ situation around re short and long term income/security. no income, yes equity, strategies ?choices?

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  • Profile photo of motivated99motivated99
    Participant
    @motivated99
    Join Date: 2007
    Post Count: 9

    I am a sole parent very eager to turn around my short term income and long term security/income  situation around.

    I cant take big  risks( i understand risk is always a factor but they need to be minimised) as i have children and aged parents  relying on me today and we have already been through major stuff that we are stille ffected by and recovering from..

    I have alot of equity but no income just sole parent pension and child support.

    what can i do  in property which will get me income in short term not justs b uy and hold for long term
    eg positive cash flow properties

    or subdivision properties either sell half or rent both if positive cash flow
    or properties wehre i can develop units  and sell all or sell some

    any other choices

    i guess also flipping which would need to assure i would make a profit so i think subdivision is more of a bet is it?

    how would i best learn aobut these, courses, dvds cd sets and books, re develop0ing, or renovating or whatever else

    do people still think you can get positive cash flow properties that i could buy alot of them for income and i have heard despite popular myth that if you buy well in well set up regional towns that they will provide also cg despite popular myth of yeild being inverse to cg of it being a choice of one or the other.

    I beleive that i will immeidately lose any centrelink and child support benefits if i am over the assett or income limit so it has to be a good plan. some of the assett limits are 166 00 for ip so not very high so even if i showed a loss  in income i would still be in trouble re assett.

    i guess the whole centrelink child support issue should be a whole other post.

    grateful if you can assist me to turn around my situation.

    Profile photo of Scott7Scott7
    Member
    @scott7
    Join Date: 2008
    Post Count: 5

    Cutegal

    why not look at increasing you income from home first to give you security with no risk and then venture into +ve cash flow prop, in the mean time do research about IP's and maybe a few courses

    Scott
    http://www.YourEndlessWealth.com

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