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Great Business Idea And no Money - Here's What to do

September 17, 2018

Sometimes we get the best ideas in life but there's really little chance to put those ideas into practice. The reason in 99% of the cases is well known - money. It's the 21st century and everything is revolving around money. Starting a business is depending on a good idea, organization, but most of all, a large amount of cash that you will invest and get the wheels going.

 

In order to get the money, most of the time people are turning to banks. Banks are giving loans to people who are about to start their own businesses. This seems like a good solution but if you've never asked for a loan from a bank, then you don't know what are the terms that the banks will give you the loan at. You might lose more than you'll get.

 

A better solution is selling something you have, like a house. The question here, of course, is where you'll live if you decide to do this. A great and very popular deal nowadays is the sell and stay deal by which you sell your house for a certain amount of money, yet you get to continue living in your own house as a tenant. The buyer of the house will be obligated to sign a deal in which it will be specifically stated that you have the right to continue living in the house for a fixed period of time and for a certain fee. After this period the new owner and you will meet again to discuss the new terms and see if both of you agree to continue the cooperation.

 

This deal is great because you save a lot of money in the first place. The most important thing is not giving any interest to the banks. The second very important part and not just because the money is not having to move out and look for another place to stay. Moving out and moving in cost you a lot of money, time and causes discomfort. Instead, you get to live in your own house by your own rules and even no one needs to know you sold the place. On top of this, your pockets are full of money that you can use for whatever business idea you have.

 

Also, if the business fails, you'll owe no one nothing. You'll simply get back to your job and pay rent like millions of other people. If you get a loan from a bank, you'll have to return the loan every month but you'll also have to pay a lot of money on the name of interest which sometimes is almost the same amount as the loan.

 

Being a tenant eliminates certain obligations too. Owning a house means a lot of paperwork and paying taxes. Taking care of the house also draws money from your pocket, leakages, power outages and all these are now a job for the new owner. Being a tenant have some advantages too, so be sure this a good idea.

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