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10-03-2008, 10:01 PM
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Senior Member
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Join Date: Sep 2007
2,545 posts, read 2,514,525 times
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Any ideas on how to raise some capital to put down for Mortgage
Any ideas on how to raise some capital to put down for mortgage?
Price range for said real property can be anywhere from 1 mil to 2.5 mil
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10-03-2008, 10:23 PM
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Senior Member
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Join Date: Jan 2007
3,168 posts, read 3,601,771 times
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Is this a business or residence property?
If a business, and you need to borrow money for the down payment, you're not ready to be buying property unless you're going to bring in an equity partner.
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10-03-2008, 10:34 PM
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Senior Member
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Join Date: Jun 2008
Location: Sarasota FL
379 posts, read 234,044 times
Reputation: 139
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The only way you're going to raise that kind of money is to
1 get into the selling drugs or
2 become a politician
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10-03-2008, 11:33 PM
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Senior Member
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Join Date: Sep 2007
2,545 posts, read 2,514,525 times
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it will be a residence property, it could have commercial space on the ground floor, but that will be leased
in other words the business is the property
I am not talking about within the first year, but it would be nice so if you have ideas dont be shy
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10-04-2008, 06:52 AM
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Not a member
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Join Date: Jun 2008
1,646 posts, read 760,891 times
Reputation: 227
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Quote:
Originally Posted by d4g4m
The only way you're going to raise that kind of money is to get into the selling drugs
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I agree. Other option is to come to me in 5 years and borrow it from me. |
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10-04-2008, 10:00 AM
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Senior Member
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Join Date: Sep 2007
2,545 posts, read 2,514,525 times
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^^^
Why is that?
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10-04-2008, 10:01 AM
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Not a member
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Join Date: Jun 2008
1,646 posts, read 760,891 times
Reputation: 227
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Stock Market - out. How else can a normal taxpayer get money? The money I'm getting is far better then going through with selling dope.
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10-04-2008, 01:45 PM
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Senior Member
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Join Date: Jan 2007
3,168 posts, read 3,601,771 times
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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.
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10-04-2008, 01:53 PM
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Not a member
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Join Date: Jul 2008
Location: long island , ny
1,229 posts, read 669,748 times
Reputation: 313
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hot dog truck.....$20.000. and live like the rest of us! ....I kid
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10-04-2008, 02:28 PM
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Not a member
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Join Date: Jun 2008
1,646 posts, read 760,891 times
Reputation: 227
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Quote:
Originally Posted by happycamper5
hot dog truck.....$20.000. and live like the rest of us! ....I kid
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Hot dog truck?!! Leased by who? |
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