Find a CFP pronto, tie up 50% or more out of your gambling hands where he says to, use 25% to invest down on a duplex or build a spec house for sale, allow yourself 25% as starting BR for sports(play no more than 2% as monster bet)
Buy some futures..NFC plus a TD in the SB, find next year's team with a twenty year vet(Bourque, Andrechuk,etc..) to win the Stanley Cup, Illini or Tar Heels to win Hoops title,etc..I'm being facetious!
And get a new job..gambling isn't "real life" even for the less than 2/10ths of 1 percent that can do it well, as most of them lead very unbalanced lives and are on their 3rd wife!..I'm dead serious here!
[This message was edited by Horseshoe on June 10, 2004 at 12:04 AM.]
Buy some futures..NFC plus a TD in the SB, find next year's team with a twenty year vet(Bourque, Andrechuk,etc..) to win the Stanley Cup, Illini or Tar Heels to win Hoops title,etc..I'm being facetious!
And get a new job..gambling isn't "real life" even for the less than 2/10ths of 1 percent that can do it well, as most of them lead very unbalanced lives and are on their 3rd wife!..I'm dead serious here!
[This message was edited by Horseshoe on June 10, 2004 at 12:04 AM.]
TN Boys, just across the TN/AL line.... about 45 miles north of huntsville al...
My first cousin is a contractor,, he is currently building a 200k home -- that appraises for 250k.. its 3100 sq -- 5 bedrooms 3 baths on 3 acre lot with a detached 3 car garage...
My duplexes will appraise for 100k, i can borrow 70%, which is essentially how they do it.. Just up the appraisal, or i can pay cash for them.. unsure about which way that i want to go...
My first cousin is a contractor,, he is currently building a 200k home -- that appraises for 250k.. its 3100 sq -- 5 bedrooms 3 baths on 3 acre lot with a detached 3 car garage...
My duplexes will appraise for 100k, i can borrow 70%, which is essentially how they do it.. Just up the appraisal, or i can pay cash for them.. unsure about which way that i want to go...
both of the below go with rental properties, you have to weigh the pro's/con's<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Tico:
You know, I've been giving some thought to developing a rental property but 2 things worry me:
1. Since it would be financed, I'd have to pay back the loan on a monthly basis, so how do you deal with vacancies?
2. Bad tenants.<HR></BLOCKQUOTE>
You know, I've been giving some thought to developing a rental property but 2 things worry me:
1. Since it would be financed, I'd have to pay back the loan on a monthly basis, so how do you deal with vacancies?
2. Bad tenants.<HR></BLOCKQUOTE>
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> You know, I've been giving some thought to developing a rental property but 3 things worry me:
1. Since it would be financed, I'd have to pay back the loan on a monthly basis, so how do you deal with vacancies?
2. Bad tenants.
3. Determining/Finding the right lot size, and LOCATION. <HR></BLOCKQUOTE>
1. use ssi's info above and you need a total of $268k
No bank would lend you that without 20% down or collateral. SO assume you finance 215K. Payments on that will be around $1500 per month
SSI- If you can afford to pay cash now, do it and if you need $ you can always draw on a line of credit or take a loan on the prop. YOu can even use a factor to take rental income early. This will allow you to use your real estate as leverage / collateral for other projects.
2. Credit checks and extra security deposit
3. Location , location, location
1. Since it would be financed, I'd have to pay back the loan on a monthly basis, so how do you deal with vacancies?
2. Bad tenants.
3. Determining/Finding the right lot size, and LOCATION. <HR></BLOCKQUOTE>
1. use ssi's info above and you need a total of $268k
No bank would lend you that without 20% down or collateral. SO assume you finance 215K. Payments on that will be around $1500 per month
SSI- If you can afford to pay cash now, do it and if you need $ you can always draw on a line of credit or take a loan on the prop. YOu can even use a factor to take rental income early. This will allow you to use your real estate as leverage / collateral for other projects.
2. Credit checks and extra security deposit
3. Location , location, location
Take the 200 large and go buy Aeroflex stock at 12 or 13 and watch it grow to 25 or 30 shortly! They are a computer company that supply the computer chips for the government! There top customer is motorrolla. And Motor Rolla is the company that will be making the new walki talkies that the Fire Department and Police Department will combine to use! A major production that means good profit that means increase! GOOD LUCK!!
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Journeyman:
You have 200K cash, but your job no longer exists, you`re in your mid 30`s , what is the best way to proceed...
Any good ideas? Serious responses please<HR></BLOCKQUOTE>
Your best bet is the stock market IF you're willing to stay in for the long haul. (20-30 yrs, at least)
You have 200K cash, but your job no longer exists, you`re in your mid 30`s , what is the best way to proceed...
Any good ideas? Serious responses please<HR></BLOCKQUOTE>
Your best bet is the stock market IF you're willing to stay in for the long haul. (20-30 yrs, at least)
