have to get loan for a great deal in nyc - Posted by lea

Posted by lea on September 06, 1999 at 13:01:32:

thanks for the info what about this… there is an area here in the bronx actually 2 that is private prop the owners always own the prop but the houses are like co-ops there are a few homes there one is selling for 55k which is really chaeap in ny most homes go for (in this area) 80-150k depending on if its right on the water which this one is and what u do w/it.
the reason i dont like this is you need to get permission to build along w/arch. plans and you need to get 3 letters from ppl that live their saying they know you blablabla its some trouble but i am curious what u think. i had decided against it, because when i finish fixing it up then try to sell it would b a pain w/the 3 letters. well thanks again for the info lea

have to get loan for a great deal in nyc - Posted by lea

Posted by lea on September 05, 1999 at 22:25:54:

i have found a great house in a nice area in the bronx NY i have the time and resources to fix it up along w/the knowhow all i need now is the cash to close fast the house is 240k will be worth 290k when complete. if this house falls through i can find another no problem. so come join me lets make some money now. email me

Re: have to get loan for a great deal in nyc - Posted by David Alexander

Posted by David Alexander on September 06, 1999 at 03:15:49:

Lea, there’s no deal there with what you’ve posted.
Your in it at 82% LTV before you do whatever repairs your talking about.

If your going to be buying for cash you need to be buying at a lot loewr prices.

Start at 70%(203k) minus repairs, then make your offer below that.

David Alexander

Re: have to get loan for a great deal in nyc - Posted by lea

Posted by lea on September 06, 1999 at 13:06:04:

hi again i have found a home for 128k good area needs a lil work has income garages 4 of them owner owns it outright but has had bad luck rent/option it so he doesnt want to do that agian i think he will go down on price i could probaly fix it up for 5k get it for 120k and sell it for 180k i could fix in 1 month me my brother and husband who are in the renovating business. i was wondering if there was any tips you could give me on this deal thanks