View Single Post
  #8 (permalink)  
Old 05-11-2006, 01:58 PM
sssnot's Avatar
sssnot sssnot is offline
Banned
Visit my Photo Gallery

 
Join Date: Aug 2005
Cobra Make, Engine:
Posts: 177
Not Ranked     
Default

Use a 0% credit card.

I have to concur with 392Cobra, however. If this is the case, as was with me when I bought and restored my Vette, I got business minded and this was my game plan:

My bank will allow me to use every penny of a vehicle's equity in place of money down on the purchase of rental homes. Each rental is simply financed on its full sale price--and pays for itself in 20 years, btw.
After insurance, repairs and taxes on each home, I still always make money each month on each home. The car I'm left with is a bonus! I could watch thousands seemingly go away in the form of 20% rental down payments, but if each home is going to pay itself off in 20 years, and I don't need them paid off before then, where's the fun in that?!
Instead of saving thousands to put down on the purchase of these rental homes, I get the same result and have a roadster to boot!
*For the skeptics, yes, this does work. I have a Vette in the garage right now that I used to purchase two of my rental homes this way seceral years ago. What a racket--I need a bigger garage!
Reply With Quote