Comments on: The Sweet Sound Of Cash http://www.howtovanish.com/2009/10/the-sweet-sound-of-cash/ Learn how to protect your personal and financial privacy. Mon, 06 Feb 2012 07:54:41 +0000 hourly 1 http://wordpress.org/?v= By: Penny Pincher http://www.howtovanish.com/2009/10/the-sweet-sound-of-cash/comment-page-1/#comment-1742 Penny Pincher Fri, 25 Nov 2011 14:23:42 +0000 http://www.howtovanish.com/?p=405#comment-1742 @JG, you could get loans and pay for those with checks and give yourself a cash "allowance" each week and buy stuff with that. That way only your transactions that related to "building your credit score" would show up. But the assumption that one should get a mortgage should be re-examined. You can get a house for as little as $5000 cash, although $15,000 is more common, in the Midwest. The house will be messed up and need work, but if you can buy cash, you won't have a mortgage payment and you can use what you would otherwise spend on interest on repairs instead. The trick is to find a distressed piece of real estate and pay only 65% what the house is worth. That's taking into account repairs too, so a house that is worth $70K fixed up, but needs $15,000 in repairs, the most you should pay for it would be around $20K. Less if you can get away with it, because of the closing costs etc. And then if you're handy, some of that $15K in repairs would be your elbow grease instead of cash. Look up the rules for capital gains tax on the sale of a home, and you can do this over and over again, with just the house you live in or you can just have a free and clear home. @JG, you could get loans and pay for those with checks and give yourself a cash “allowance” each week and buy stuff with that. That way only your transactions that related to “building your credit score” would show up.

But the assumption that one should get a mortgage should be re-examined. You can get a house for as little as $5000 cash, although $15,000 is more common, in the Midwest. The house will be messed up and need work, but if you can buy cash, you won’t have a mortgage payment and you can use what you would otherwise spend on interest on repairs instead. The trick is to find a distressed piece of real estate and pay only 65% what the house is worth. That’s taking into account repairs too, so a house that is worth $70K fixed up, but needs $15,000 in repairs, the most you should pay for it would be around $20K. Less if you can get away with it, because of the closing costs etc. And then if you’re handy, some of that $15K in repairs would be your elbow grease instead of cash. Look up the rules for capital gains tax on the sale of a home, and you can do this over and over again, with just the house you live in or you can just have a free and clear home.

]]> By: Tao http://www.howtovanish.com/2009/10/the-sweet-sound-of-cash/comment-page-1/#comment-1673 Tao Fri, 16 Sep 2011 19:14:30 +0000 http://www.howtovanish.com/?p=405#comment-1673 If you control an offshore corp. I would assume you could get a credit line in the person of the corp. The corp can take out mortgages, etc...right? If you control an offshore corp. I would assume you could get a credit line in the person of the corp. The corp can take out mortgages, etc…right?

]]> By: JG http://www.howtovanish.com/2009/10/the-sweet-sound-of-cash/comment-page-1/#comment-1481 JG Sat, 21 May 2011 10:50:38 +0000 http://www.howtovanish.com/?p=405#comment-1481 If you use cash for everything, how do you build up a credit score in order to get a mortgage? If you use cash for everything, how do you build up a credit score in order to get a mortgage?

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