Okay, I have been presented with an opportunity.
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.
---
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.
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...
Now the details:
Property I want sold at $ 100,000,000. I can not afford it presently. Nor can many people in America, or on earth.
I want to start a fund to "buy" the property, run by no one else but myself.
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).
This would allow them to also use all the other amenities of the mansion, pools, kitchens, living rooms etc...
The mortgage would range at 380,000-400,000$ a month with real estate taxes etc.
12 parties at a rental rate of $50,000 a month is $ 600,000 a month.
That leaves $ 200,000- for the fund (myself)...a month.
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.
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.
---
What I need help with... CONTACTS. Know anyone who wants to move to a major city on the East Coast?
Let me rephrase- What is faulty about this plan?
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.
Thanks!
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.
---
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.
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...
Now the details:
Property I want sold at $ 100,000,000. I can not afford it presently. Nor can many people in America, or on earth.
I want to start a fund to "buy" the property, run by no one else but myself.
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).
This would allow them to also use all the other amenities of the mansion, pools, kitchens, living rooms etc...
The mortgage would range at 380,000-400,000$ a month with real estate taxes etc.
12 parties at a rental rate of $50,000 a month is $ 600,000 a month.
That leaves $ 200,000- for the fund (myself)...a month.
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.
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.
---
What I need help with... CONTACTS. Know anyone who wants to move to a major city on the East Coast?
Let me rephrase- What is faulty about this plan?
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.
Thanks!
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
