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From: Colin Sproul
Hello Everybody,
This is my very first post so I hope I`m doing it right.
I would very much appreciate some advice from all experienced investors.
I have just sold my home, at settlement after all debts are paid I will have approx. $60,000.00 to spend. I was going to use this money as a deposit to get another home loan for lots more and buy a big new shiny house and put myself in more debt, but somebody mentioned investment property to me. Well I have briefly (very briefly) investigated the option and today received in the mail the "More Wealth" book. From what I have heard and read it has made me extremely excited and eager to get cracking with my new venture. But along with all the excitement comes the anxiety and fear of failure. My first dilemma I find is that the purchaser of my house is going to rent the property and has given me the option to do so. My question is, in your opinion should I rent my home off the new owner (which will be very convenient as we love the place and will not need to move) and invest the full $60,000.00 in an investment property or should I do otherwise. I hope this is not a stupid question and is understandable, I am just so excited !!!...I have so many questions......maybe I should just calm down and perhaps have a lie down!!!..anyway I would really appreciate all of your invaluable opinions and input...
Thank You in advance !!
Colin.
P.S. What do you say to negative cynics...I hate them !!!
Hello Everybody,
This is my very first post so I hope I`m doing it right.
I would very much appreciate some advice from all experienced investors.
I have just sold my home, at settlement after all debts are paid I will have approx. $60,000.00 to spend. I was going to use this money as a deposit to get another home loan for lots more and buy a big new shiny house and put myself in more debt, but somebody mentioned investment property to me. Well I have briefly (very briefly) investigated the option and today received in the mail the "More Wealth" book. From what I have heard and read it has made me extremely excited and eager to get cracking with my new venture. But along with all the excitement comes the anxiety and fear of failure. My first dilemma I find is that the purchaser of my house is going to rent the property and has given me the option to do so. My question is, in your opinion should I rent my home off the new owner (which will be very convenient as we love the place and will not need to move) and invest the full $60,000.00 in an investment property or should I do otherwise. I hope this is not a stupid question and is understandable, I am just so excited !!!...I have so many questions......maybe I should just calm down and perhaps have a lie down!!!..anyway I would really appreciate all of your invaluable opinions and input...
Thank You in advance !!
Colin.
P.S. What do you say to negative cynics...I hate them !!!
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