Any ideas on how to raise some capital to put down for Mortgage (investors, advertise)

[NJ Chutzpah]

Originally Posted by sunsprit

So it's a residential property with the "possibility" of having business zoning and a business use on the street level ... but your intention is to not "lease" it out for that use upon purchase?

If so, you're looking at a straight residential property acquisition.

Either you've already got the money for a jumbo loan downpayment and income to support the loan and taxes ... or your don't. IF you don't have the money, then you don't have a deal.

there is no deal in place period

I am looking to raise the capital first

I am starting from scratch

I have more than most people in my bank, but it will not be enough for NYC buildings

[aaauger]

I would have said credit card advances before the recent economic fiasco. Now I'd say sell something or savings or loans from relatives. You could try getting a partner, but that has its disadvantages.

And if you can lease a portion, you should certainly do so. Property should be for 1) personal shelter or 2) income or 3) both.

[NJ Chutzpah]

I want the property for income, but leasing is not an option for me

I need to be the owner

I could get relatives, but I will use that as a last result

I want methods to raise capital besides getting a 9-5 job

[Philip T]

Let's see -- wants money.

Other people's money and does not want to work to get it.

Wants to put it into real estate -- not even to buy -- but to just go further into debt on something he clearly cannot afford.

Oh SIGN ME UP! This has deal of the 2005.

Have you morons learned NOTHING in the last six months?

[NJ Chutzpah]

oh geez dont be pussyfoot

I have a 9-5 job right now, but it is not fast enough

I want ideas to raise some additional capital to put down for a mortgage, if it is at all possible

I do not want to borrow money to raise the capital either, I just want to use what I have

I am not afraid to lose it, i am young I will bounce back

[8 SNAKE]

Originally Posted by NJ Chutzpah

I am not afraid to lose it, i am young I will bounce back

That's good, because you seem to be on the fast track to doing so.

As I understand your 'plan', you want to leverage yourself into some NYC real estate in order to build wealth. Aside from your obvious lack of capital needed to buy said property, NY real estate is likely to take a dive soon. Since it doesn't appear that you have the income necessary to float this place and are banking on appreciation, I fail to see how this is a winning strategy.

[NJ Chutzpah]

^^^

I am not looking to leverage anymore than said mortgage

let me worry about how bad NYC rental business gets

I would just like some ideas

[8 SNAKE]

Originally Posted by NJ Chutzpah

^^^

I am not looking to leverage anymore than said mortgage

let me worry about how bad NYC rental business gets

I would just like some ideas

For someone with no clue, you've got a lot of attitude. Don't be surprised if people aren't falling all over themselves to give you advice on a plan that will never get off the ground. I know that I won't.

[MissDaisy]

Originally Posted by NJ Chutzpah

I want the property for income, but leasing is not an option for me

I need to be the owner

I could get relatives, but I will use that as a last result

I want methods to raise capital besides getting a 9-5 job

NOW you are using your noggin' !!!!!

Don't let anyone trick you into a 9-5-er!! Yeah, THE MAN snagged me into THAT one many years ago...Rat Bastard!! In fact, he tricked ****** me into a 9-9-er for the last 22 years!!! If only I was as smart as you......

.....much better to coerce others to let go of THEIR (hard saved 9-5 $$ over many years) than to hop off your OWN butt to accomplish life on your own ( but, hey, if you didn't have to front the *scratch* yourself, and it doesn't pan out like your delusions had you to believe...WELL HELL!! No Prob!! File bankruptcy and foreclosure, dust yourself off, take a d-e-e-p breath, and in a couple of years, you will find another unsuspecting *investor* (tool)

Hey---BEST OF LUCK TO YA!!!!!!!

...and for providing you with the above advise...please do me a favor, and let me know when the future BK, foreclosure, liquidation of other's $$ is imminent, cuz that would be the precursor to the NEXT GREAT FINANCIAL MELTDOWN...

...call me crazy, but I *suspect* you are a member of the *entitlement* generation....

...yep, just scrolled down "young and will bounce back"

...either you failed economics and history in high school..or you are really a dumb **** and should never be given a checkbook.....

[NJ Chutzpah]

^^^

this thread has been dead for a while

It took you that long to come up with this?

You must feel real smart

Are you going to lose your house?