I Need HELP Creative Financing Strategy
Im in NY on Long Island. Seller proposed SFR 1 year old house because he his moving at
$319000 $20,000 down $1988 a month and 3 years to obtain your own financing. I want to make an offer on this property as it will be used for a homeless shelter project and NYS will give me down payment assistance after 2 years. How can I make a amicable offer to SELLER, as I have nothing but 1 months rent and 1 months security?
The rental income possibility is $2700 per month after overhead costs.
Have you already received approvals or is the house zoned for a homeless shelter? A change from SFR to homeless shelter may require approvals with public input. Have you already talked with city officials about this change in use?
Yes, I have other housing in other areas. So all that preliminary work is complete.
Pete is one of the most creative investors/teachers I have learned from. If you are a beginner you may get lost. His stuff is definitely for advanced investors.
thanks, sanjosee! i am a beginner, and i did get lost! but, it all made me think and was a good shot in the arm. took his seminar about 2 weeks ago in cincinnati....am ready for a refresher! any additional teachers you might recommend for us beginners?
thanks,
sage
May be best to find a mentor... Education is great, but you need application and guidance, it sounds like to me.