investing TIRED OF TRUCKDRIVING - Posted by James Richards

Posted by Rich-CA on September 28, 2007 at 10:21:33:

Using a home equity or primary residence loan to finance a business venture is 100% financing, since all the money is borrowed. At 100% financing, you will be hard pressed to find income property that cash flows. What you may want to look into is relocating to a more business friendly state using the proceeds from the sale of your NJ residence to (1) buy a new primary with no mortgage (meaning a major part of the monthly bills is not there when cash is tight as it may be from time to time) and (2) use the primary residence tax exemption of $250k for a single or $500k if married to act as seed money for starting the business.

I would consider locating in the state and metro area where you want to buy properties so you do not have to use a property manager.

investing TIRED OF TRUCKDRIVING - Posted by James Richards

Posted by James Richards on September 27, 2007 at 10:10:52:

I have 4 rentals (3 in Kansas and 1 in nj) My personal house is also in nj which is also a small boat marina. My marina with house and 4800 sq. 5 bay garage is worth around $800 thosand to 1.5 millon with a loan of $128,000 on it. I think with this kind of equity I should be able to get myself out of the truck and into realestate investing but can’t seem to get my act together due to the hours I put in truck driving. I think I need a mentor. Any suggestions would be appreciated. Thanks Jim

Re: investing TIRED OF TRUCKDRIVING - Posted by Kurt Schultz

Posted by Kurt Schultz on October 28, 2007 at 14:23:34:

I can guide you through converting your home equity into permanent income if you want.

You would have to do some research in order to find out which things are available to you in your situation. My approach is proven to work in California, but I’ve never seen it done in New Jersey (it may have been done without me knowing about it).

Re: investing TIRED OF TRUCKDRIVING - Posted by Tyrone

Posted by Tyrone on October 02, 2007 at 12:38:30:

Have you looked into a mentorship program that helps you get started in Real Estate Investing? A hands-on hand-holding mentor with over 20 yrs exp. Email me for more info or call 919.390.8721