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If you're not paying off a mortgage, you're much freer to start up your own business; Renting, not buying, is boosting Australia's start-ups
Topic Started: 18 Aug 2015, 03:36 PM (2,774 Views)
The Whole Truth
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Loki
18 Aug 2015, 08:47 PM
An old property investor saying - I lose money on every property, but I make up for it in volume.
I bet it was a property investor on the gold coast who said it :)
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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peter fraser
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A Lurker
18 Aug 2015, 11:31 PM
I started a business in 2012. The initial working capital came from a personal advance by me personally to the company I set up using my redraw facility on my home loan.

I would expect that would be reasonably common way that businesses set-up. The business won't have appeared on any stats or reports as ever having had a business loan.

Fortunately things went ok and the company repaid the loan by 2013 and hasn't required any external funding since.
that's true - a lot of business loans are written as home loans. If someone wants $50K to start a business it's easier and a lower cost option for the home owner to declare the loan as being for renovations, and a higher LVR can be achieved.

The data today can't be compared to the data from previous decades because borrower behaviour has changed so much.
Any expressed market opinion is my own and is not to be taken as financial advice
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Admin
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Moving home costs tenants thousands: survey
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stubby
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Alex Barton
16 Sep 2015, 12:27 PM
WTF Alex, what does your post/link have to do with the thread???

:lol :lol :lol
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Massive
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The one thing being overlooked here is to have a mortgage you needed capital from the outset in form of deposit ..then you have to have capital available in the loan to redraw on which is unlikely on day 1

For a young person looking to start a,business you can't save for a deposit plus get capital for your new business in a short time frame ..

It really is a choice of one or the other initially
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