Should I buy a house or a business first?
Will purchasing a home affect your chances of getting a loan for a business startup? Give our reader, Paolo, advice on what to do.
From Scott, St. Paul, MN I'd rent and build up a buisness, such as website flipping. (http://siteflipacademy.weebly.com) You can get started for $xxx hundred and build up to $X,XXX and even $XX,XXX on each sale. Invest, reinvest, until you have enough to buy the house out right. wish I had gone this route instead of buying a house three years ago and trying to start a company at the same time. Money just getts too tight.
From Charles Dreher, Chicago, IL Purchase the house first and then go to http://www.CommonwealthCapital.com to learn how to raise capital for your business new with a securities offering.
From J.H, Tampa, FL Would consider business first. Possibility new business doesn't do well and could person could need additional monies now tied up in house or, in worse case, could lose house. Definitely would set up business to protect home equity.
Buy and income producing property first, a two family perhaps and live in one. If your purchase is well chosen, you can stabilize home base and then, grow a business.