I have good credit. I have no money in the Bank. My house was paid for but now I have a 60,000.00$ home equity loan. My house is worth about 220,000.00$ The business is a very small apartment Complex. It has a house turned into 2 apartments that I could rent out for at least 1,000.00$ each a month. There is a row of 10 rooms that they ask about 200$ a week. Then there is 3 efficiency apartments that rent for about 250$ a week. The owners are bringing in at least ,000.00 a month and when full bring in about 15,000.00$. When I first saw this place I wanted it and now it’s for sale because the owners are getting a divorce and need to sell to be agreeable to both people. 3 years ago it was appraised at 1 million now it was appraised at 750,000.00$. I’m guessing it has about 4 acres. Any financial advisors out there to tell me, am I crazy or not crazy? I would not live there. My Husband installs and refinishes floors and I started a cleaning business. Thanks for reading. Cindy
Posts Tagged ‘cindy’
Financial Question?
Wednesday, February 10th, 2010I am 48 years old, seven years my house will be paid off, I have approx. 40 thousand in retirement, last year started roth IRA, no credit card debt, but I a owe a credit union for a personal loan at 9% 00,and a 00 fixed 7% home equity loan. Ashamed to say no emergency fund. I want to move to flordia, I live in a suburb of detroit Mi, economy is bad here, so is this a good idea? P.S. I am a registered nurse. Thanks, Cindy
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