Friday, 13. August 2010
I’m looking to open a shop and my parents offered to lend me some money to help out. They are taking out a home equity loan to lend me about ,000 to ,000. I agreed to pay them back. Because they are taking out a loan do they have to pay any taxes? Do I have to pay taxes on this money?
I don’t have any assets so I wouldn’t be able to get a loan for the amounts of money I posted.
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Tuesday, 3. August 2010
I need K for a surgery that will be performed on myself this year. I am a private real estate investor so my pay fluctuates, however, I seem to do just fine. I just purchased a newer but used Honda Accord 3 months ago, put K Down, and owe about K more, and I own 2 homes, appraised at 5K A piece, and on each I have two hard money loans in the amount of K per property. The rest is just equity. I have both homes for sale, however, the market is dead. My credit is about 625, however I could easily improve it
This is my situation. Would my assets help me to get a loan? I dont necessarily want to BORROW more on them… I am just wondering… what kind of a part it would play in getting myself a loan. Thanks : )
PS: My Health Insurance wont cover a thing. Thanks : ]
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Saturday, 17. July 2010
I hear of people who have equity built up in their homes, who take out second mortgages, to get their money out…and then just walk away (with their principle intact). How do they do it? Is their some kind of TRUST that they shift assets to, or corp formed….or are they just taking a chance? How could one protect themselves the best from allowing the bank to collect? THANKS
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Tuesday, 29. June 2010
I need K for a surgery that will be performed on myself this year. I am a private real estate investor so my pay fluctuates, however, I seem to do just fine. I just purchased a newer but used Honda Accord 3 months ago, put K Down, and owe about K more, and I own 2 homes, appraised at 5K A piece, and on each I have two hard money loans in the amount of K per property. The rest is just equity. I have both homes for sale, however, the market is dead. My credit is about 625, however I could easily improve it
This is my situation. Would my assets help me to get a loan? I dont necessarily want to BORROW more on them… I am just wondering… what kind of a part it would play in getting myself a loan. Thanks : )
PS: My Health Insurance wont cover a thing. Thanks : ]
Interesting Blogs
Thursday, 17. June 2010
I need K for a surgery that will be performed on myself this year. I am a private real estate investor so my pay fluctuates, however, I seem to do just fine. I just purchased a newer but used Honda Accord 3 months ago, put K Down, and owe about K more, and I own 2 homes, appraised at 5K A piece, and on each I have two hard money loans in the amount of K per property. The rest is just equity. I have both homes for sale, however, the market is dead. My credit is about 625, however I could easily improve it
This is my situation. Would my assets help me to get a loan? I dont necessarily want to BORROW more on them… I am just wondering… what kind of a part it would play in getting myself a loan. Thanks : )
PS: My Health Insurance wont cover a thing. Thanks : ]
Interesting Blogs
Sunday, 23. May 2010
I am considering changing jobs and was thinking about taking an estimated 0,000 out of my 401K and investing it into additional real estate. I presently have 3 income properties, two of which are free and clear but need about ,000 in improvements and the other is occopied with an appraisal of ,000 and an equity loan balance of ,000.
In my targeted area, I can possible purchase two additional income properties and because I am a licenced contractor and doing all the work myself , I figure i’m saving money on the improvements.
I understand the penalties of cashing out my 401 K but also think there are some advantages to investing the money in real estate. I think I can increase my assets while making some additional money by using the money in my 401 k instead of trying to borrow from a bank.
Any advice on the advantages or disadvantages
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Saturday, 8. May 2010
i’m in a predicament. i have substanial assets and nothing is selling. i need cash fast. ive been living off my savings and providing for my employees the last 6 months,my credit is shot as ive tried to get refinance or equity loan -i waited too late to try to get that as they have tightened up. any suggestions? my business is also stopped- im a contractor. no job potential as of yet.
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Sunday, 2. May 2010
what i want to do is get a loan to cover down payments, working capital for rehab,upgrades and defaulted rent. Time frame to keep properties is 3 yrs. I need at least 250000 to 1 million. I am willing to pay 10% yearly interest. Since I am not paying in full for the house it is not a secured loan. What is the best type of loan,line,card. etc to get to raise funds. After I purchase a a few houses I can get investors to payoff everything in about a year or less with the equity in the portfolio. I am most interested in interest only Business loan-is that possible. Perfect credit, Business currently own is dental office gross .8 million yearly, 0k net yearly 5 yrs open. No assets, not a home owner. What is the best way to raise capital;get a loan, without collateral without being a secured loan. for this or other purpose. Creative financing ideas would be helpful, Please.Thank you.
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