100% equity in your home … need loan advice?
Hello all, I am a student of 21 years, specializing in music (production / recording) am. I bought my first Cash Home / complete ab.Ich my mother lost in 2001 when I was 13 and took the modest life, she left for me to buy the house. after the loss of my mother, I went to my grandmother and obtained in 2004 after a year-long battle against cancer. She left me a legacy 1400/mo, I have for my education and expenses. $ This is his interest in a family business and continues without interruption until his brothers and sisters to sell the two commercial buildings they own and rent. Sadly, I borrowed a silent partner with no voting rights and out of cash or the ability and / or my interest Zusammenarbeit.ich have 100% equity in the property and its return value tax accessed is 200k. just before I bought the property to buy, I (cash / farm) equipment landscape and self-50k / full time at my 09th spring training is almost over … 1 more semester and will continue on a part time basis. now I have 10 clients per week (or 800/wk 3200/mo) and we look forward to the # 20-25 to increase until spring. my property and income generating … It consists of a 4br house, 2 br cottage, 2 car garage and is zoned “commercial village”. With this zoning, there is an option, some or all of the rental property on certain types of transactions … grocery Pottery, real-estate agency, a bar / restaurant, etc. I have a reluctance to share a contract for the house (1200/mo) and 2 roommates sign home with me (600ea/mo). I can also rent a small suite on 1st Floor Commercial House (1000/mo). My long term plan is to use them (comm) room for my professional recording studio … not ready ($ ). but I did not “technically” a tax return (again), I get a 100k loan with my property as collateral? I can also rent, heritage and landscape as an income now, or how long should I wait to be “technically” considered an owner and / or small business owner? I know I can do this loan without any problems with the handle, what I do now. It is sad … I had been closed a few months ago, he would have “rubber stamped” by a bank and / or mortgage co. how I found the title until the fence has been unconventional … I have to think fearlessly, and / or an act of “thinking outside the box.” Additional information and / or suggestions are greatly appreciated. Hope all is well. Have a good idea.