All Forum Posts by: Mary Ann

 How do you save when you pay rent? Does it make you have more room to buy now that you know you have XYZ cash every month for rent?  Or do you have to earn more income?  I just always keep hearing that if someone is renting buying is even harder.  Thoughts?

I'm definitely talking about renting in a high place like NYC, and buying real estate to rent to others in cheaper places like Florida or even upstate NYC.  The homes in NYC are lots of money and leverage you to the almighty - especially if you are strapped for cash.

Good questions from all tho.

@Tyler Jahnke any update?

Ok this makes me feel better. In expensive markets like NYC, San Fran, Chicago, this sounds more common than I thought.

I've been trying for almost a year to buy a 2 fam house in Brooklyn, NY. Something always comes up, or my private money has moved on by the time I find something.  I'm leveraging myself alot here and wondering if there's a better way to do this. I didnt want to succumb my savings to renting an apartment, because it feels like I'm giving up the dream of my first property.  But I'll be leveraged to the tilt with no funds if I buy a house now despite getting a downpayment asisstance program. Still hard.   I'm thinking rent now and buy somewhere I can afford, even if just for cashflow.  Can that work? Anyone doing that? Any advice appreciated thanks!

Go to www.downpaymentresource.com they have a list inc NYC Sonyma loan providers.

I'm getting lots of support to crowdfund a 2 family in Brooklyn and turn into an "experience" that I can live in and share with others.  It is over 800K, but negotiable especially if cash.  It's a vision I've had for years. It has a great story attached, so lots of fodder for the media.  I need to hold the home with a downpayment.

The prop will have recurring income and will sell out a year in advance. I have a powerpoint and just want to make sure I'm set up before I start the crowdfunding portion for the curation (designing the home, any repairs, etc)!

How can I position this to attract an investor for the downpayment or the entire purchase price?  If someone were to pay how does me paying them back work?  

Here are a few others who have done the same if I'm totally confusing you!  

https://www.kickstarter.com/projects/1303792929/th...

http://www.travelandleisure.com/articles/crowd-fun...

Thanks!

Welcome to BP!  Lots of contacts to make around here.

They just opened a shiny new drive thru Starbucks in Flatlands, off Kingshighway, if that aint a sign of change for this sleepy-1.5hour commute-to-manhattan-makes-you-want-to-stay-home-all-weekend-area I dont know what is.

I may not be able to attend, but how can I join?