http://www.businesspundit.com/5-regular-joes-who-stuck-it-to-the-man-and-won/ Entrepreneurship, Startup Companies and Business Philosophy Sun, 21 Mar 2010 18:00:52 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.businesspundit.com/5-regular-joes-who-stuck-it-to-the-man-and-won/comment-page-1/#comment-16338 John Thu, 20 Aug 2009 18:54:14 +0000 http://www.businesspundit.com/?p=13281#comment-16338 If you read the full article, you'll find that the house he wanted to buy was $385K - between the $190K in savings and the sale of his old property, he would still need $80K to purchase it (his total down payment would be nearly 80%). Further, the property would have returned an income in itself. The bank really missed it there, though he could have presented his application to the business services department in the bank instead of as a residential mortgage, since he had a business case. If you read the full article, you’ll find that the house he wanted to buy was $385K – between the $190K in savings and the sale of his old property, he would still need $80K to purchase it (his total down payment would be nearly 80%). Further, the property would have returned an income in itself. The bank really missed it there, though he could have presented his application to the business services department in the bank instead of as a residential mortgage, since he had a business case.

]]> http://www.businesspundit.com/5-regular-joes-who-stuck-it-to-the-man-and-won/comment-page-1/#comment-16332 James Thu, 20 Aug 2009 14:58:07 +0000 http://www.businesspundit.com/?p=13281#comment-16332 My question is this, if you have 190k in savings...why would you be so stupid to borrow 80 from the bank? Just buy the property if you have the money. Then make your payments back into your savings, minus then you are paying interest to yourself instead of the bank. Is this not obvious to everyone else? My question is this, if you have 190k in savings…why would you be so stupid to borrow 80 from the bank? Just buy the property if you have the money. Then make your payments back into your savings, minus then you are paying interest to yourself instead of the bank. Is this not obvious to everyone else?

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