BROADCASTS.com

b'ARVE Error: Mode: lazyload not available (ARVE Pro not active?), switching to normal mode\\n\\n\\n\\n\\n\\n\\n\\n\\n{"@context":"http:\\\\/\\\\/schema.org\\\\/","@id":"https:\\\\/\\\\/onproperty.com.au\\\\/wwrd-start-investing-no-deposit-running-business\\\\/#arve-youtube-ds6o1zmvram659a0b2e2fed8513786503","type":"VideoObject","embedURL":"https:\\\\/\\\\/www.youtube-nocookie.com\\\\/embed\\\\/Ds6o1zMVrAM?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=0&autoplay=0"}\\n\\n\\n\\nIn this episode of WWRD we discuss some options if you own a business and want to begin investing, but currently have no deposit.\\n\\nHey and welcome to What Would Ryan Do, the series where you provide me with some sort of property question and I do my best to tell you what I would do if I was in the situation and to try and give you some unique thoughts on the situation. Sometimes, it can be very difficult to see the forest for the trees. You are in your situation; you can only see what you can see and sometimes it is good to get an outside perspective.\\n\\nWe like to have a bit of fun with this. We do not take it too seriously. This is not to be considered financial or mortgage advice. It is just my opinion of what I would do in a situation but you need to assess what you would do because you obviously, know your situation best.\\n\\nThe question today, we are talking about someone who runs a business and they want to get into property but they do not have a deposit. So let us go through and we start by reading the question and then we will share some thoughts on it.\\n\\nSo, this person says, "I am a 49-year-old single bloke. I have had a restart in 2005 after someone special embezzled from my business." I am very sorry to hear that; that sounds absolutely horrible. "I now have a small super and a business. The business is worth around $1 million to $1.2 million with debt. I do not have a\\xa0deposit but I want to get into property because I cannot work like I am for the rest of my life. How can I go about doing it? How can I do it?"\\n\\nAnd so, absolutely great question. I am very sorry to hear that you are starting from scratch again - about 10 years ago you had to start from scratch again. But I think a lot of people find themselves in this situation where they need to start from scratch again. Now, you are in \\xa0a unique position because you own a business, so you do not have a job and you do not have a deposit. So, this is making things difficult if you want to go ahead and invest in property.\\n\\nSo, I am going to give you some thoughts on things that you can do but again, no deposit and a business depending on how long you have been running that business, how much income you generate from it, how much debt you have on the business as well, will really depend on what decisions you make moving forward.\\n\\nSo, the first thing that I always advise everyone - and I am going to advise you as well, is to start with the end in mind. Think about \'What is my goal? What am I actually trying to achieve? And what is the best way to achieve that?\'\\n\\nSo, what sort of income do you want to achieve when you finish? For me, that goal is $60,000 a year in passive income. That goal is enough to live off with me and my family, get by, have a pretty cushy lifestyle, and then I can work from there to try and improve that. But $60,000 a year is the goal. So, my question is what is your goal that you are trying to achieve? You say you cannot work this hard for the rest of your life.\\n\\nBut think about \'what is the goal I am trying to achieve? And is property or how can property help me get to that?\' Because you run a business, you say your business is worth $1 million to $1.2 million depending on how much debt you have and depending on whether you can actually get the sale of that for your business after paying capital gains and stuff like that; that is a decent amount of money. So, you have to think, "Okay. Maybe my business could be the vehicle to get me to what I want."'