I then lowered the offer price to 70k since I wouldn’t be able to complete the due diligence piece.

In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.

Hello,Looking to buy a piece of land ( residential) or two in and around austin area.

Having the right partners on the design and build is what I have found to be the most important piece of the puzzle.  

Sometimes even 7 or 8% lenders are had to find for 3 or 5 years much less for 15 or 30 years. exactlybut im sure its possible because people are doing it Possible yes, but there are a lot of complexities and moving pieces - this is generally the lending business model, not a simple "arbitrage" glitch or easy scheme..

your QI should be telling you to hustle right now.The 9% rate isn't the only piece of the pie. 

You’re piecing together a bigger puzzle here, and every connection and conversation helps you fill in those gaps.

But it's a relatively minor piece in the big picture. 

This is a good note though, and something as a piece of the corrective measure. 

Big piece for me for this property is to meet the STR loophole hours to make it non passive to help offset my w2.