All Forum Posts by: Neil Fanstone
Neil Fanstone has started 1 posts and replied 5 times.
Post: What to do with 300k OPM
- Investor
- Comox, British Columbia
- Posts 5
- Votes 0
Appreciate the help. I couldn't figure out a way to make this sort of money work, wanted to see if those more creative than myself had some ideas. Cheers.
Post: What to do with 300k OPM
- Investor
- Comox, British Columbia
- Posts 5
- Votes 0
Fair enough, what changes to the terms would enable something to work?
Post: What to do with 300k OPM
- Investor
- Comox, British Columbia
- Posts 5
- Votes 0
Originally posted by @Jason D.:
@Neil Fanstone what are the terms of the loan? Is it amortized over 5 years? Interest only? Line of credit or loan?
Amortized over 5 years, loan, (interest+principal)/ 60 months interest and principal payable monthly. Ability to reup paid principal anytime.
Post: What to do with 300k OPM
- Investor
- Comox, British Columbia
- Posts 5
- Votes 0
Hello everyone, I've been offered a 300k short term loan (5 year) at a low interest rate and I'm mulling whether to take it and also what to do with it. I can support the monthly payments with my salaried job but I'm not interested in doing that long term. I have generally stuck to traditional investing with my own money so I'm in unfamiliar waters here. What approach would you take to take advantage of this available capital?
Post: Best areas to invest in buy and hold on Vancouver Island
- Investor
- Comox, British Columbia
- Posts 5
- Votes 0
I'm new to the island and I've also taken an interest in Port Alberni, on paper the numbers work for multi-family residences although same concerns with tenants and future prospects of the area. I'll be pursuing this over the next couple months and see if there's value there, hope you guys find the same.
Cheers, Neil