All Forum Posts by: Anthony Liguori

Dont do it! CITYFHEPS is a legal nightmare. Legal Aid plays defensive block for deadbeat nightmare tenants even the City doesn't want to house. STAY AWAY FROM ALL NY CITY RENTAL PROGRAMS. Section 8, which is Federal is ok but city programs are not properly run, lack communication ( every number you call has a voicemail that is full and no attendent has been assigned. I have over 20 numbers), unresponsive, unhelpful to the extreme.The reason the City is willing to give you 1 year in advancecis because once you take the $$$$ you are stuck with them for that year no matter what they do ( nonpayment, destruction of property, etc).  Why do the guarantee  up to 5 years, because it takes that long just to get rid of them. Dont get lurked by the bonus because you wont get a chance to keep it ...it will go to legal fees...a lot of $$$$ spent on legal fees. STAY AWAY!! FOR YOUR OWN SAKE ...STAY FAR FAR AWAY!. The program should be cancelled but then the City will turn around  an rename it to lure unsuspecting landlord into its clutches. If a housing representative calls you about participating in CITYFHEPS...hang up on them after telling them in excruciating descriptive detail just how hard and fast you are gong to shove that phone up their a** , if they ever so much as dare look at you phone number in contemplation of dialing your number.

@Casey Roman I didn’t read all replies but I would be happy to partner with you here in DFW. Fund the hard money points and interest and I will manage the project and do the rehab and we split the profits in the end. We can handle 4 projects at a time. Let me know if you’re interested. Thanks!

I’m interested in receiving more information on this idea you have 

@Casey Roman I'm coming to your rescue. You are NOT the only one in this predicament. As others have said...look at other Markets...I like Cleveland for my OOS Investing. Look at Chemical Bank....they have funded mortgages on properties that are as low as $35K. My bet is as a business owner if you let them know you will fund half the deal you could probably find a SFR for 50K in a C/C- Neighborhood,,,,you fund $25K of it...they give you a "mortgage" on the rest and you can get gross rents of somewhere between $800-$1,100/mo You can buy 4 of them with that $100K (DO NOT do it all at once....get your feet wet with the first one). Find an investor friendly agent like I did that walks the walk and talks the talk that also owns rentals in Cleveland....they will know the good PMs and the bad ones as well as the good contractors.

I also flew out to Cleveland multiple times.....that obviously is difficult to do right now, but the beauty of it is that's what home inspections are for,,,,,,,get a good home inspector like I did and they will be your light. 

That's what I did and still do.

non qualified mortgage assumptions. I can get you 3 properties in Austin in 1 week with 100k.

turnkeys?