Any gurus in here?!
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"L E X - T A L I O N I S" -
Depends on your need. I am not one to help you invest big money or create a startup company, but I have followed Dave Ramsey's program and been debt free for years. We recently (3yrs) bought a car and it will pay off next month. 3 yrs is damned fast to get back to *debt free. We also bought a house, so that debt will be with us a while. We will be paying it off in 12 yrs by our financial plan.Let’s Go Brandon!!!!! -
I'd like some finances. Feel free to send me some 😄
In all seriousness....single...one meager income and I paid off my house this year. 13 years instead of 30. No other debt. It's great !Tuesday is soylent green dayComment
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I'm debt free. I would like some ideas on side businesses though. In other words, how to make my money into mo' money."L E X - T A L I O N I S"Comment
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I have about half the year where I do nothing. I'm not looking to bust my ass, but I don't mind getting a little dirty.
Originally posted by Night View Post"L E X - T A L I O N I S"Comment
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You can come do my job and I'll take time off. I deserve it more 😄Originally posted by Talon115 View PostTuesday is soylent green dayComment
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Most people with big money, own lots of property. Real estate is always a sound investment...it's just a matter of timing.
No, I'm not talking about house flipping.
I am a business owner and it is a lot of work. More work than you ever think it will be.Comment
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I'd like to try my hand at house flipping.
"L E X - T A L I O N I S"Comment
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Originally posted by Harvey_Wideshaft View Post
I sat there with the hunk of cash wondering what to do with it, and investigated buying a rental. But by the time you take into consideration 4 weeks no tenants, a percentage, (they talk about 3% of value of house) to be put aside for maintenance, the new laws here about insulation, safety and comfort of rental dwellings and the cost of the mortgage, I was lucky to break $1500 a year income.
but when I take that same amount of money and invest it in peer to peer lending at about 12%, that's 4200 a year and I don't have to worry about tenants trashing my investment, or the hot water cylinder blowing, or insurances, rates, cost of living.
I admit I'm not including capital gains here, and they would be great although what are the capital gains? What will the economy do? i can't figure out where to go on that.Comment
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Income properties are the way to go. Especially commercial property. Let it earn money for you as you buy more. Eventually, you sell all of it and bank...Comment
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Commercial property rentals attract GST here, and income tax. Also definitely tax on capital gains. Whereas residential do not attract these taxes other than income tax.
That's NZ though, don't know about US taxation.
Residential is also usually within people's means to get a deposit. Commercial would be great but you'd need a huge whack of money to start with. Where do you get that money from, and how do you invest it while you are waiting for it to get big enough to buy a commercial building?Comment
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What kind of ball park are you talking, Talon?Comment
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I started my business with next to nothing. I bought what I could, when I could. No loans, no credit. It's a very hard way to build. I made a poor decision a year and a half ago and it set me back quite a bit, but I should be seeing major gains by the end of next season.
If you are wanting to just invest your money, peer to peer is a viable option. Investing in startups is a gamble, but another option that can pay massive dividends.Comment
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