Question by aimhigh1184: Personal Finance and Business Question. Any advice for me?
I am going to get my masters in Physicians Assistant in a couple of years and I am going to go into Cardiovascular Surgery as a Physician Assistant when im 23 years old. They make about 120k+. However I don’t plan on getting married until 28… I realized its better to be older before getting into a real relationship. But I want to know what side business I could open up and focus on after my shift as a PA is over. When im 23 and I would have payed off my loans because Im going to work part time as a PA when im 21. I will also take out a 150k home equity loan on my parents house, Yes i understand the risks but I will pay off the payment of about 2.5k every month myself. I’m going to take out the loan as a downpayment on a 2 family house. That mortgage will be likely payed off using the rent income from my house, trying my best to keep intents in there. But I plan on selling the house after maybe 10 years hoping to get 300k for a downpayment on a bigger house. But what type of business Could i do ? My uncle has a very successful limo service making millions yearly and my other uncle owns 2 two family houses and is very successful. Any advice for me?
Best answer:
Answer by sunshine
Slow down, concentrate on one thing at a time. You are guessing you pass the exams, guessing you get a job locally, guessing you can get a loan. Your building your future on suppositions and that is foolish
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Please have mercy on your parents. Let them enjoy their hard earned money or to let them live in their house. Most of the parents didn’t make $ 120 K salary. If you want to take any risk, take it with your hard earned money. You are single and young, you can save $ 150 K within 2 or 3 years. Housing market is not going anywhere as far as prices are concerned. Once you have saved your hard earned money, you may be wiser to invest it accordingly.
Good luck.