Quote:
Originally Posted by Insane Matt
I am very interested in investing in some type of reality also. Would like to know more about picking up a small complex of apartments.. I am only 20, possibly in the next 5 or so years
|
My business partner started out that way. While working at Pfizer (formerly Upjohn) he had bought 3 rentals, while renting somewhere else, before he bought his first house.
He then bought a cabin on the lake, and has been rebuilding it for 8-10 years. Last year it was appraised at over $500k. Nice little investment.
While I am single, have no kids, and a lot of extra money. I am looking for some ideas outside of the normal things I am thinking. But also in the market of tangibles. When you go to a traditional bank, you run into more questions about income when you are "self employed" and do not own shit they can take.
Seems the name of the game in getting bigger and better loans is they look at your income,.. "yeah that's great and dandy", and next look at what you own. I have had car dealers, and loan officers both tell me that being self employed, but with property, will open more doors than just the money, and being able to prove it.
It's not so much an issue now, but the first couple of years when I first started doing online full time I ran into that time, and again.