How to make money with a mortgage loan! Have Equity But No Idea How to Make Money With It? All you have to do is start a business ie. Lawn mowing.
Here is how you could make money with lawn mowing. Let’s assume that you can drive to a client’s/customer’s house, mow their lawn, and pack up and leave within 1 hour. Let’s also assume that you are going to be paid at least $25/lawn that you Removing snow for $20/job and that your time and cost investment is the same as lawn care so you can reasonably make at least $600/wk all year round.
But what about time off – you can’t work all year round without a break. You could likely live a comfortable life by working 11 months of the year with 1 month off each year. Your income would then look like this $600/wk x 4 weeks per month x 11 months a year = $26,400. But, you’re thinking, this isn’t enough money! The answer to that is easy – just get some more lawn contracts and people working for you until you have reached your goal. Obviously you would pay your workers less than what you are making.
An example of this would be:
Income per job = $25 (same for lawn mowing and snow shoveling)
Length of time to do a $25 job = 1 hour
Income per hour = $25
Cost of paying someone (per hour) = $10
Cost of wear and tear on machinery/gas = $5/hour
Profit (per hour) = $10
So all you have to do is increase your staff until you are making your desired income.
But what about the equipment I need? ie. Lawn mowers, lawn edgers, weed whippers, trucks/trailers, shovels, snow blowers etc. The answer to that is twofold 1) you can start small and build up your business and your supplies slowly or 2) (if you have equity) get a Mortgage and buy all the equipment, get some employees and start your business with full-steam ahead.
The next question is how do you get enough business. You could do this any number of ways ie:
b) Doorknocking (going from house to house asking for business – time expensive but effective).
c) Internet advertizing
d) Paper advertizing (watch your budget because this can easily get out of hand!)
e) Give away free services, then try and sign up those people.
If you need a Calgary mortgage broker please call me – Trevor Hickey (403) 860-8738 or email me at email@example.com.
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