<div class="bbWrapper">Okay, I have been presented with an opportunity. <br />
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Have property worth $ 100,000,000, residential. It is being sold circumstantially, or if circumstances meet what the owner needs. I don't need to give the full details of it.<br />
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End goal is simple- Find a way to circumvent payment to live on the property, profit from the property and enjoy life on such property.<br />
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Has 20 bedrooms, 13 bathrooms, in one of America's largest cities. Lovely, LOVELY real-estate. Number of pools, bowling alleys, large garage, home for the housing staff, etc...<br />
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Now the details:<br />
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Property I want sold at $ 100,000,000. I can not afford it presently. Nor can many people in America, or on earth.<br />
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I want to start a fund to "buy" the property, run by no one else but myself.<br />
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In this fund, I want to offer the property to people, for "rent." I am thinking 12 parties/people to rent this out a month. This would give them 1-2 bedrooms to use, (with 1 bedroom "free" for myself to use).<br />
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This would allow them to also use all the other amenities of the mansion, pools, kitchens, living rooms etc...<br />
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The mortgage would range at 380,000-400,000$ a month with real estate taxes etc. <br />
12 parties at a rental rate of $50,000 a month is $ 600,000 a month. <br />
That leaves $ 200,000- for the fund (myself)...a month.<br />
I can charge as low as $32,000 a month, I would walk away with $4,000 a month in income for myself, while still maintaining residency at the property, and having no housing expenses what-so-ever. Will "manage" the property, etc., as a part-time little job for myself as I pursue other things.<br />
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I will consider renting it out to less people as long as they pay for the bedrooms that would have otherwise been rented out. If you can really find a buyer for the entire property, I will gladly give you a commissions check.<br />
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What I need help with... CONTACTS. Know anyone who wants to move to a major city on the East Coast?<br />
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Let me rephrase- What is faulty about this plan?<br />
Wasn't sure where else to post this. I just received the phone call earlier today to go through with it, and if I can make it happen- I'll be a very happy guy.<br />
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Thanks!</div>
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