Bobbyloads
Elite
- Joined
- Apr 20, 2019
- Messages
- 5,431
- Reaction score
- 5,383
- Points
- 283
I came across a pretty good loan at a very low interest rate for 30 years. I have to flip this money so it’s paying itself off and potentially making extra income on top.
Only solid idea right now that made the most sense to me was to buy a property for cash preferably a ready one if not a cheaper one a put a little bit into it. Loan repayment is $400/month for 30 years if I buy a condo for example outright figure loan 400 plus say 150 taxes and say 200 HOA fees and about 100 insurance I would be at $850/month expenses as long as I can rent out for $1100 that should be good no?
I keep watching these YouTube videos but they all end up in them selling the idea of using their company to do this which I don’t trust anyone if anyone will **** up my money it’s going to be me personally.
Anyone have any experience in this and if so what are your thoughts and ideas any advice is greatly appreciated!
Only solid idea right now that made the most sense to me was to buy a property for cash preferably a ready one if not a cheaper one a put a little bit into it. Loan repayment is $400/month for 30 years if I buy a condo for example outright figure loan 400 plus say 150 taxes and say 200 HOA fees and about 100 insurance I would be at $850/month expenses as long as I can rent out for $1100 that should be good no?
I keep watching these YouTube videos but they all end up in them selling the idea of using their company to do this which I don’t trust anyone if anyone will **** up my money it’s going to be me personally.
Anyone have any experience in this and if so what are your thoughts and ideas any advice is greatly appreciated!
Last edited: