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From: Mike .
Building new homes/units
From: Bricklayer
Date: 12 Jan 2001
Time: 20:08:00
Being my 1st post on this forum and only recently finding it after reading Jans books, i'd like to say what an interesting and informative place to learn from experienced investors and non experienced alike. Keep up the good work all.
Being a bricklayer obviously with contacts in the trade i'm sure i can build new homes or units relatively cheap compared to buying recently built new dwellings. Also some garden brickwork and rolling out the lawn etc should save me some dollars and add value immediately.
Now the question: would i be better setting up principal loan compared to fixed because original loan will be covered so easily, eg i expect to buy land 30k 2 units cost 60k each total 150k. Property to be valued at conservatively 220k total=70k equity. Rent $175 each=$1400 month. Fortunately its quick equity and i'm just wondering what u guys and girls out there think would be my best options considering i'm able to take advantage of my trade.
I'm 32 and currently own 1 home 200k and another owing 80k with a value of 160k. Look forward to your responses.
Building new homes/units
From: Bricklayer
Date: 12 Jan 2001
Time: 20:08:00
Being my 1st post on this forum and only recently finding it after reading Jans books, i'd like to say what an interesting and informative place to learn from experienced investors and non experienced alike. Keep up the good work all.
Being a bricklayer obviously with contacts in the trade i'm sure i can build new homes or units relatively cheap compared to buying recently built new dwellings. Also some garden brickwork and rolling out the lawn etc should save me some dollars and add value immediately.
Now the question: would i be better setting up principal loan compared to fixed because original loan will be covered so easily, eg i expect to buy land 30k 2 units cost 60k each total 150k. Property to be valued at conservatively 220k total=70k equity. Rent $175 each=$1400 month. Fortunately its quick equity and i'm just wondering what u guys and girls out there think would be my best options considering i'm able to take advantage of my trade.
I'm 32 and currently own 1 home 200k and another owing 80k with a value of 160k. Look forward to your responses.
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