who says you can't outside of a few sleep overs i have been doing it all my life and i know a lot of single men and women who do the same thing!!!
2007-08-30 13:07:01
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answer #1
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answered by Anonymous
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OK. Your goal is to live rent or mortgage free, right?
So buy your van, and live in it down by the river.
OK. Seriously. You're good at fixing stuff, right? Here's what you do. You find some beat up old house and buy it for cheap. Get a 100% loan with an adjustable low rate for 2 years. You then live in it for 2 years, while fixing it up all the while. You may even need a home equity line of credit. After 2 years, if you've paced yourself right, you sell a shining masterpiece of a home for a high profit, and keep it all, tax free! Then repeat.
If you can't swing a mortgage even on a beat up old place, post ads on craiglist and maybe in the paper, saying you'll fix up places for free, if allowed to live there while you are doing the repairs.
2007-08-30 13:13:00
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answer #2
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answered by Uncle Pennybags 7
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It can be done but its very hard to do. You need to spend carefully and save what you can , so you have a large deposit on a house. Buy a house in a good area for as cheap as possible and plan on fixing it up a little. The mortgage replaces the rent you were paying but is a long term commitment.
If you could afford a duplex then you can rent out one side to help pay the mortgage.
If you work at it you may be mortgage free in 5 to 10 years.
2007-08-30 13:03:02
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answer #3
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answered by mark 6
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Depends on where you are ein the country.
In LA, my first year i made $15 an hour and was paying $880 in rent for a solo studio.
25% tax rate knocked my down a lot.
2 40 hr work weeks made my check $900 bucks.
So two weeks of the month paid the rent and I had to live off of the other two weeks.
Phone, Insurance, IRA, gas, etc. ate half of the remainder.
So with $400 a month I had to eat, buy new clothes, pay for entertainment, date, take acting classes, buy stamps, etc.
I ate a lot of $1 double cheese burgers at McDonalds.
It's rough, but doable.
You might need a second job.
I had to finally buckle under and find a room mate.
2007-08-30 13:01:01
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answer #4
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answered by saberhilt 4
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It's hard, I tell you that much. I make a little more than you and I share an apartment. My rent is $625 per month, not to mention my $450 car payment and $300 insurance. Also monthly bills like phone, cable, Gas, Electric, etc.
Good for you on not wanting to cheat the government like alot of other people out there! My bills are paid so at the end of the day, I feel good.... even though I have no money to eat ;-)
Good luck!
2007-08-30 12:57:34
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answer #5
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answered by Anonymous
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On TV tonight one of the major stations told about the family who made 35,000 per year. They have 7 kids!!! They do a lot of coupon clipping and shop only once per month. They have a house, 2 cars and no debt. It takes a lot of unity with all working for the same goal.
Just don't spend more than you make and try to find a way to save. Treat others the way you want to be treated and be smart.
2007-08-30 17:55:48
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answer #6
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answered by Brick 5
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You're making roughly $2500 a month - that should easily be enough for one person to live on and to pay a mortgage. Since you run a handiman business on the side, you are in the perfect position to put a downpayment on an inexpensive fixer-upper, move in, do the work yourself and when the house is remodelled, sell it at a profit, then do it again.
2007-08-30 13:00:02
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answer #7
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answered by old lady 7
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I know married couples where one person is disabled, and the other makes a little less than you. They're not wealthy by any means, but they're keeping up their mortgage payments.
The secret to gaining wealth is not to make a higher salary, but to spend less. I'm not suggesting that you shouldn't strive to make more, but only suggesting that your outgo, not your income, is your biggest problem.
2007-08-30 12:55:21
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answer #8
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answered by Anonymous
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My husband makes 13.77 per hour and we live comfortably. We also live in Kentucky, were the dollar goes further. I stay at home with our baby.
2007-08-30 12:59:25
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answer #9
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answered by hilton hottie 3
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if you find yourself with free time use it to get other people to make you some real money, build a team and you will soon be leaving your full time job.
check this out www.make-you-money.biz
2007-09-02 23:54:46
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answer #10
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answered by lewis Daniels 2
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