Curious DOW Newbie seeks more info. - Posted by Rocky-VA

Posted by Rocky-VA on August 03, 2003 at 19:39:02:

Currently my car payments are $297/month, and my insurance is $216. It is my very first car (bought it in Nov. 2002), and I had gotten my license about two weeks before i bought it. The insurance is high because I’m still considered high-risk due to my receiving my license so soon, but I am hoping that soon the insurance will go down a bit.

If I had known I’d be interested in this business I definitely would have gotten a used car, but at that time I wanted something that could get me from point A to B, without having to worry about having to fix it up constantly, plus I figured it would be good for my credit. The only other bill I have is my cell phone, which is relatively inexpensive. I am only making roughly between $190-250 a week, and thats if it does not rain or work is slow.

I’m not trying to make excuses here, and I have a couple options I can work with, and perhaps a bit of re-evaluating is in order, heh I just want to get started as quick as possible because I am totally amped about this.

Thank you very much for your reply :slight_smile:

Curious DOW Newbie seeks more info. - Posted by Rocky-VA

Posted by Rocky-VA on July 31, 2003 at 15:43:18:

Hello everyone. I’ve been a long-time lurker on the website, and I just received my copy of DOW yesterday. I just finished it this afternoon and I have to say it’s a very awesome book and I’d like to take a little bit of time to thank Lonnie for creating this highly cool piece of literature to help people make their dreams of financial freedom and stability come true.

Something I was curious about though, is that in my situation, I am currently working as a land surveyor, working the usual 8-10 hr days monday through friday. With my current pay, I make just enough money to get my bills paid (car note, insurance, and cell phone) and thats it. I’ve only been working there for little over a year, so I am not sure about how I will be able to acquire a loan from a bank to purchase my first couple MH’s. I live with my parents who just got out of a foreclosure so getting the money from them is a no-go, and I have no living grandparents.

Basically I was wondering how could one get some starting capital for getting into this business? I like the idea that was presented in DOW of selling the note to an investor, but I would think that would first involve having the funds to begin with to purchase the first home. I had thought of looking up maybe getting some sort of govt. grant or if I can qualify, a small business loan from the bank. Does anyone have any ideas that could possibly help me? I appreciate any feedback and thanks for taking the time out to read my post.

Re: Curious DOW Newbie seeks more info. - Posted by Philip

Posted by Philip on August 03, 2003 at 16:03:00:

I drove a 15 year old s-10 pickup with a burned out exhaust valve until a year and half ago.
Not much, but it got me there…and everybody knew when I arrived.(Still have trouble hearing)
I could have bought a vehicle, but chose not too.
Can you come out ahead with some other vehicle?
Can you hire out to a mobile home mover to set and level mh’s for side money?(and get the inside lane on some freebie mobile’s and a place to put them)

Re: Curious DOW Newbie seeks more info. - Posted by Sonia in ID

Posted by Sonia in ID on August 03, 2003 at 02:24:18:

What kind of car payment do you have?!? Not trying to be offensive here, but surely you must be able to cut some expenses! I have a family of seven, and we live debt-free off only my husband’s income. And he’s a school teacher a small private school–so you can guess how much that might be. I suggest you re-evaluate your budget.

Re: Curious DOW Newbie seeks more info. - Posted by Rocky-VA

Posted by Rocky-VA on August 03, 2003 at 19:43:10:

Thank you for your reply. I have only owned my car for a brief time, the reply I gave below has pretty much all the details behind it. I’m not sure exactly how I’d be able to “switch it out” for a used one with a note, but I’d consider it at this point. And I will look into working with movers, maybe as a weekend-type deal, since our company is not open on the weekends.

Again, thank you for your response and ideas.