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-> Household Management
-> Finances
amother
Ivory
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Wed, Feb 08 2023, 3:43 pm
DustyDiamonds wrote: | The trick is to use other people’s money, not your own, to make money! I’ve never heard of anyone buying investment properties for cash.
Instead of putting 100K into buying a property for cash, put in 10-20k, get a mortgage, and keep another 10-20k in your business reserves, in case you have a few vacant months. This way, you have another 60-80k (cuz you didn’t spend cash buying for 100) with which to buy a few more properties and multiply your money.
Obviously, the process isn’t as simple as that; there’s loads of good books and podcasts where you’ll get great info from experienced investors if you want to get into this business. |
what books/podcasts do you recommend?
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