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.

For my personal properties, I design the mortgages so that I'm just above cash flow neutral. 5% of the gross income is a good number I shoot for above neutral.

Giving away the place cheap only creates more work for yourself screening lower income individuals, and attracts scammers.

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

I don't know your market but it looks like a lot of thought went into the design and layout. 

What amenities have helped you attract the most guests? 

He won't do undesirable designations. 

I recently purchased a 1500 SF two-story rowhouse in New York with a building class designation of Two Family Dwellings - Brick (B1).

There're various financial plans designed to help with college financing, and some of them come with tax benefits.

You're close to the bus stop so you'll attract NYC goers & they move a lot around here.