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Updated over 5 years ago,

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Stephanie Gundy
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My first investment, I want a wedding venue

Stephanie Gundy
Posted

Hi, I'm looking for some advice, and maybe a miracle.

I have been in the wedding industry for 6 years and looking for my own small paradise to offer ceremonies for the last 3.  And I believe I found it ... a brownstone "mansion" on 5 acres with a barn sitting next to the mountain and surrounded by majestic trees and the sound of water.  

It is a full rehab project and up for auction in 2 weeks, May 18th.  

I have: talked to a real estate investor without getting any suggestions, talked to an investor who said that he will be out of town until after the auction and wished me the best, had a general contractor look at the property but all he said was that everything is fixable, talked to my financial advisor who said that because I also want to live there my self directed IRA can not help me, and lastly my loan officer said that the bank requires that the property be habitable ... it's a rehab without a kitchen.

What am I missing?  If there is never a lack of resources only a lack of resourcefulness what have I missed?   The only person left to talk to is my accountant who is also out of town until next week. Do I need to look at this differently?  I am legally a minister, can that somehow come into play? 

I was excited about the BRRR method but ... any and all ideas would be greatly appreciated.

Thank you so much

- Stephanie

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