Wanting to Help... in upstate NY

[Heather Plude]

My name is Heather and I am looking into REI to help people have environmentally safe places to live.

From 2007-2011, my family lived in a home with hidden toxic mold in the walls. You couldn't see it or smell it. The ERMI(mold test) was off the charts... the air testing 2 weeks later showed high levels of toxic mold.

We were advised that if anyone in the house was sick, we should leave immediately and take nothing with us.

My son was in a wheelchair, having seizures with zero quality of life. I had been hospitalized 5x and was throwing up daily but gained 75 pounds. I was dyslexic and unable to remember my own name some days. My husband had been hospitalized for chest pains 2x, my dog was lame and throwing up and my daughter had asthma and allergies.

Yes. It was bad. Yes. We successfully remediated. We were 'homeless' for 10 months while my husband did the work needed on the house... and it was extensive. We threw out much of our stuff, furniture, beds, anything porous. We put the rest in storage. Sheetrock needed to be pulled out and replaced anywhere the spores had traveled... and because it was a balloon frame house, that was a lot of sheet rock.

There was lot more we did to remediate... if you are interested, I can point you toward some places where I wrote about our experience. I blog, am active in support groups, hold fundraisers, speak around the country and take people to doctor's appointments, social services, etc.

One of the biggest obstacles in getting someone well who has been injured by mold is finding them safe housing. So many landlords clean with bleach and paint with kilz and other unsafe practices concerning mold, that finding a place to live when your body is burdened with mold toxins and you are super sensitive... is nearly impossible.

I would like to start helping people by buying properties and renting them to people who need an environmentally safe place to live. Social services will pay the rent... it's just that there are no safe places to rent!

Eventually when they get their health back enough to go back to work, I am hoping they will want to rent to own... or we can get another family in who needs the environmentally safe place.

I need guidance in how to fund the purchase of a property a single mom and her son can live in while they heal. She is very sick and he is not much better (11 years old, nosebleeds, throwing up daily) And in a hurry since we just went to the ER again for extreme abdominal pain and the diagnosis is pancreatitis. I have her in a temporary place to stay... but that is very temporary.

I found a 2br house that needs some finish work and would be perfect... and I put a downpayment on it. Purchase price is $45K. New kitchen, bathrroom, roof, hot water heater, heating system and roof. Needs mud, paint, finish the floors and some minor trim work. ARV is $85K.

So, I am looking for advice. Where do I go to get funding? Are there any hard money lenders who aren't so "hard" I was looking at the 14% and 6pts that is talked about as average and that would be very hard to swallow. Are banks loaning on investment properties? How much money do I need in reserves to close on a non owner occupied loan? How long does that take?

We are talking a life or death situation here. And she has little to no money. I am holding several fundraisers for medical care and considering another for the purchase of this house.

What do you think is the fastest/best avenue to get this deal done?