All Forum Posts by: Luther Young

@Jaclyn P. When and where are the meet ups?

@Chris Carson that's a great idea! I hadn't thigh of that. My credit isn't really the issue as its back up to a 720... just the 7 year rule. After I get the numbers in order I'll ask him about that!

@Christopher Blanco thanks for the info. I do not have the immediate numbers as this just became an option as we were leaving on Sunday. I will take your suggestions and repost once I get the numbers.

My family and I have been going to this kind of rustic cabin campground for a few years now. The place does well but the owner is old and wants to sell. well, because he knows me and my family, he has offered us an amazing deal on this property. Here are the specs: 20 acres On site manager's house 8 cabins with A/c and running water Sits on a river Many many areas for improvement to raise prices. (kayak and tube rentals, laundry, place roads, etc.) Sale price - $450,000 Rental prices: Cabins - 2 - $215 per night - 1 - $175 per night - 2 - $145 per night - 3 - $125 per night Primitive Camping - $30 per night This place also doubles as a hunting lodge during hunting season. Has private river access. Here is the dilemma. 3 years ago I had a personal foreclosure, so I'm no longer eligible for a normal mortgage...well, not for another 4 years. I know this is an amazing deal due to the price that the owner is offering me and my family, but I've reached out to all of my family members and none of them are really in a financial position to help with the purchase. I personally have about $20,000 to put down on this. Are there any types of loans that people know about for making a purchase like this that I don't know about? I'm very new to the investing game but I know this is an outstanding deal and I don't want to miss out!

Thanks @Michael Spittler ! We'll have to get together sometime and spitball a few ideas!

Hello everyone! my name is Luther and I'm from West Texas. I'm I the Navy and currently live I Connecticut. I found Bigger Pockets while looking for interesting ways to purchase investment properties! This site is awesome!!