- Joined
- Dec 3, 2018
- Messages
- 13
Rep Bank
$470
$470
User Power: 308%
( The bad) Currently I'm in a tough spot my mother recently passed away from cancer ..
(The good) even though things are very rough right now I have time I can invest in my side hustle.
I'm a Ironworker/fabricator and have been planning to start moonlighting on the side I'm almost done building my mobile truck iv been working on for a year .
I broke my arms two years ago on my atv and have $13,500 in medical debt I'm hoping to settle.
My wife and I moved in with my father and I'm paying his mortgage of $1,500 a month. We are going to fix his house and sell it so he will have 80k in equity.
I have $30,000 saved and plan on buying a two family home for 160K and living in the bottom apartment if I get the loan. My father will live with us for half the year and the other half with my sister so he can retire.
I plan on putting $10,000 down on the house and settling the medical for around 8k...
I would ideally love to buy my parents' house but I need cheap living to continue to save and invest more in myself, so I must sacrifice for now. I believe buying this home will save me more money than renting because the average rent in this area is $1,000. I will be having a mortgage of $1,100 and receiving $900 from the tenant upstairs.
I have been collecting tools for over 6 years now to try to start my endeavor. I'm also learning all that I can at my day job. I'm becoming familiar with the local contractors that provide work.Also picking up the bidding process.The company I work for focuses on the harder jobs other companies can't figure out.
There is a great demand for this type of work in my area. It's very hard work but I do think I can grow my wealth in my business and knowledge fairly large eventually.
The entry barrier is very high in this industry .
(The good) even though things are very rough right now I have time I can invest in my side hustle.
I'm a Ironworker/fabricator and have been planning to start moonlighting on the side I'm almost done building my mobile truck iv been working on for a year .
I broke my arms two years ago on my atv and have $13,500 in medical debt I'm hoping to settle.
My wife and I moved in with my father and I'm paying his mortgage of $1,500 a month. We are going to fix his house and sell it so he will have 80k in equity.
I have $30,000 saved and plan on buying a two family home for 160K and living in the bottom apartment if I get the loan. My father will live with us for half the year and the other half with my sister so he can retire.
I plan on putting $10,000 down on the house and settling the medical for around 8k...
I would ideally love to buy my parents' house but I need cheap living to continue to save and invest more in myself, so I must sacrifice for now. I believe buying this home will save me more money than renting because the average rent in this area is $1,000. I will be having a mortgage of $1,100 and receiving $900 from the tenant upstairs.
I have been collecting tools for over 6 years now to try to start my endeavor. I'm also learning all that I can at my day job. I'm becoming familiar with the local contractors that provide work.Also picking up the bidding process.The company I work for focuses on the harder jobs other companies can't figure out.
There is a great demand for this type of work in my area. It's very hard work but I do think I can grow my wealth in my business and knowledge fairly large eventually.
The entry barrier is very high in this industry .
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