Hi Mapalo. Thank you for this vidoe. It would have been useful to see a comparison with actual calculation....a house that is 220K, would a bond for 20 years amount to the same amount as the personal loan for 5 years. Especially since with a personal loan you would not pay any bond registration fees
Alot of banks wont give you a loan in your llc name unless you get a DSCR loan. But you cant buy cheaper properties with DSCR loans under a 100k. You can get a personal loan and put it in your LLC.
so true, the temptation of using the personal loan money is so high and you end up with lots of credit... i started paying extra on my bond and when people were taking payment breaks i still continued n boom my business went bad and i got offered the break which i took and was still good with my banks record wise and not blacklisted for the 3 months of previously not paying, so now my business is back on track, i add extra again for rainy days...
It’s better to apply the payment to the principal using a home loan and pay it out faster. If the property is under 10k you can use a zero percent balance transfer using a credit card to pay the property out. Personal loan interest is higher.
My mother is looking to buy a house or build one. She and my dad are married in community of property and she can’t get approved for a home loan because my dad does not pay his debts. He is in massive debt and has no intention of paying it off. Do not get married in community of property guys please 🙏🏽
Hello Mapalo, thank you for the video it is really informative. Please help, i am a university student and on my final year. I want to know how I can financially get myself stabilised when I start working? For instance, its my first job with a basic salary, how do I save, and invest and get myself started financially as a young person. Looking forward to your response.❤🇸🇿
Wow, I never thought of it that way. Check the interest rate on the loan than make a decision.
Hi Mapalo. Thank you for this vidoe.
It would have been useful to see a comparison with actual calculation....a house that is 220K, would a bond for 20 years amount to the same amount as the personal loan for 5 years. Especially since with a personal loan you would not pay any bond registration fees
I'd really appreciate that as well.
Informative though❤
Alot of banks wont give you a loan in your llc name unless you get a DSCR loan. But you cant buy cheaper properties with DSCR loans under a 100k. You can get a personal loan and put it in your LLC.
I really want to learn more about this please
This is beautiful... we need more of this lessons..thank you
What happens in a situation where u borrow a personal loan from a credit union and its cheaper than home loan?
Informative indeed.
so true, the temptation of using the personal loan money is so high and you end up with lots of credit... i started paying extra on my bond and when people were taking payment breaks i still continued n boom my business went bad and i got offered the break which i took and was still good with my banks record wise and not blacklisted for the 3 months of previously not paying, so now my business is back on track, i add extra again for rainy days...
It’s better to apply the payment to the principal using a home loan and pay it out faster. If the property is under 10k you can use a zero percent balance transfer using a credit card to pay the property out. Personal loan interest is higher.
Hi ausi Mapalo I just this video and I have a question, what if you want to build your own house, what the best loan to take??
My mother is looking to buy a house or build one. She and my dad are married in community of property and she can’t get approved for a home loan because my dad does not pay his debts. He is in massive debt and has no intention of paying it off. Do not get married in community of property guys please 🙏🏽
Is a 20k equity loan at 11% bad 5 year term
Nice video. Thumbs up
Thank you
Hello Mapalo, thank you for the video it is really informative. Please help, i am a university student and on my final year. I want to know how I can financially get myself stabilised when I start working? For instance, its my first job with a basic salary, how do I save, and invest and get myself started financially as a young person.
Looking forward to your response.❤🇸🇿
Please teach me ❤😢
Can you take a home loan if you intend on building a house and not necessarily buying one that already standing?
Another amazing and educational video. The psychology of money! That 500k paid into the account can have you feeling like you are rich 🤣🙈
😂😂😂
Thank you for this video 😩🤍
What type of loan do u get for building
quicker mean more money.
What Is colleteral
Collateral is offering an asset you own in exchange for a loan. Never get a collateral loan.
@@missdesireindependance5194 why?