Hello
very basic stuff as i'm just startin out.
I am reading the book 0-130 for the second time since i didn't take action when i first read it in 2008!! I want to understand how and why the 11 second solution help determine a better property deal? I am in the euro zone so would it here?
Secondly, i have no savings to invest but have equity in my home and no mortgage. I only have a part time job and my partner no job. Ideally i would like to create passive income as well as a reno job that i could re sell as quickly as possible to start filling up my money pot and provide us our lifestyle expenses.
Any idea's?
many thanks
Ima
Ima,
The 11-second solution works in any currency because what you're comparing is the same.
In the current state of the economy, I would expect you will need to show income to support a mortgage, even if you do have equity. The banks everywhere have tightened their belts on lending. In your situation, my first priority would be to get cashflow coming in weekly via a permanent job or two so that you look better to the banks.
Good theory you have, just a few boxes to tick first.
Good luck.
Vicky
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