We don't know that.
Maybe someone/guest lurking here is...or a SS member has a family / friend member. They could at least tell them hypothetically it does work.
Or they might say it can be done, but not on those figures...
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We don't know that.
Maybe someone/guest lurking here is...or a SS member has a family / friend member. They could at least tell them hypothetically it does work.
I didn't read in forum rules where there is a minimum income limit for reading.
**insert favorite despised group** arent reading this forum
This forum is heavily google indexed
site:somersoft.com has 429000 results, implication is that keyword searches for income improvement thriving minimium wage etc will result in Somersoft threads and posts being returned to persons other than forumites as soon as the site is respidered
Jaycee may be memorialized by some absolute stranger getting that AHA moment from a post, who knows
Or they might say it can be done, but not on those figures...
Bob,
Which way do you think more appropiate.
1) This boarding way on minimum wage
2) Going to the mines to earns some decent $$, living a good life, and saving more than the above?
After you save from the mines, invest in property, and repeat.
chill peanut(meant as a term of endearment not as insult), did not write anything bad about youBob,
jayceee did not say there were no minimum wage earners on this forum
that you may be inspirational,What the hell does your last sentence mean ?
got 1 leg, minimum wage earnerBob,
Which way do you think more appropiate.
1) This boarding way on minimum wage
2) Going to the mines to earns some decent $$, living a good life, and saving more than the above?
After you save from the mines, invest in property, and repeat.
got 1 leg, minimum wage earner
more appropriate?
the thread is about minimum wage earners,
all these miners living the good life,
I agree with the principle, however unsure the numbers stack up in some of your examples (I live around the corner from your first example).
I used a variation of this when I bought my first house. At the time I was a single parent on about $35k a year with no deposit. My mum bought the house and rented it to me for a year - I paid the mortgage and all outgoings.
I rented out the main bedroom and ensuite to be able to afford the mortgage.
After a year the house had risen in value (+80k) and I could show a history of paying the mortgage. My mum sold it to me for the same price she paid.
First bank said no, however my regular credit union said yes based on the increase in equity (still no deposit or savings) and my payment history (I could demonstrate I could afford the mortgage). I continued to rent the main bedroom out for several years until I sold and upgraded.
No way I could have afforded the house without having a boarder.
I've already reported I had 7 enquiries in less than 12 hours, before I deleted my ad.
I also had the 2 LL's I emailed, wanting me to call them to discuss further.
Nothing there suggests it cannot be done.
re: excusesexcuses are pathetic,
reasons are reasonable,
To find an excuse for "anything bad", irks, jerks my chain, etc
somebody who has a reason for the same "anything bad" deserves assistance
these 2 words rattle round in my head
for others, excuse and reason are synonymic
I dont think it is safe for a "boarder" with young children around, yes most would be ok
Thank you for agreeing it is possible.
The examples were extreme, but sometimes single people doing this would need to be.
Working as a couple, sharing a bedroom would make it work even faster, or have more disposbale income.
Great hint Penny, on au pairs.
Psst, Jaycee, that wasn't directed at you.
I can understand what you say fine. It's weird text alignments that are done intentionally that make me miss stuff that confuses me.
It's all cool.
We did it another different way alreadyWhat about other ways to make it work though, would that jerk your chain, anybody who doesn't agree with you?
There are 1001 ways of getting ahead, and not all of them involve this level or commitment to a sub-tenant, cooking for them, leaving them some leftovers for lunch, heck, even just buying groceries for your sub-tenants, living on $25 a week with $10 for entertainment.
How long, seriously... can someone do that for without going stark raving mad and busting out and buying a Mars bar occasionally. Stuff the budget, this week I'm gonna LIVE!!!
I'm just saying that we too are retired without having done all that scrimping. We scrimped in a DIFFERENT way and our son is now looking at buying an IP, a year after he bought his first IP, without resorting to starvation rations. (And before you jump in, that is just my term for living on such a low amount - I realise you can do it, but I don't know anybody who would want to even try to live like that long term.)
I just would love to hear you say it can be done a different way. We have all agreed it can be done your way, but with less extreme figures. Do you believe there is another way?