small side business with a Branson

[Toby873]

Is it a sound business move to take an equity loan on a rental property to pay for my tractor that I will use both at my home (10 acres) and as a small bush hog business (1 or 2 jobs a month, work here is plentiful)? My concern is low monthly cash flow so I need payments to be smaller than current Branson financing.
Toby

 

[rameye]

Sure..

As long as..

a) there is a need for your services
b) after all expenses insurance, maint, taxes, etc you actually can make more per hour than working at mickey D's
c) if times are slim, you can still make the payment regardless of how business is doing.

my .02

 

[wallace]

I think I would rather just loose my tractor than loose my house.
I think you can get into a Branson tractor cheaper than you think.
If you are interested call me.
Where are you from?

 

[Toby873]

Mr. Wallace,
thanks for the reply but PA is a little bit of a haul from FL. Equity loan is on a rental house. But I did crunch numbers and can handle it even without the 1 or 2 jobs. but thanks for the concern.
Toby