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TOPIC: Strategies
#6802
Ms Edna ()
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Strategies 11 Months ago Karma: 0  
I am investing in NY on Long Island and the market as we know is not moving. I located seller selling SFR 4, 2.5 bath house. This house would be ideal for a project I direct with NYS Parole Department.

LP: $319000
FMV:$200000
FMR: $2000
Proposed rental income for NYS shelter project: $2700

Seller offered:
$20k down
$1988 per month
3 years to obtain own financing

My situation:
I only have $1988
$0 down payment
Credit score: 610

How can I create an amicable deal to obtain this property and still make the owner comfortable with me?

Edna
 
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#6804
demetrius ()
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Re:Strategies 10 Months, 3 Weeks ago Karma: 0  
i'm new at this, but just to help... consider giving him part of the cashflow to make up for the down payment. or take a loan out for the down payment and for the next 2 years figure out how ur gonna pay off that loan and get new financing.
 
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#6805
demetrius ()
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Re:Strategies 10 Months, 3 Weeks ago Karma: 0  
i'm new at this, but just to help... consider giving him part of the cashflow to make up for the down payment. or take a loan out for the down payment and for the next 2 years figure out how ur gonna pay off that loan and get new financing.
 
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