Trying to raise money for house and land any idea's?
By onlydia
@onlydia (2808)
United States
September 29, 2008 10:09am CST
I want to buy the house next door to me. The price is cheap and I'm trying to think of way's to come up with the money as I have no money. Plus I can't refinacne my home now again as I owe more then it is worth these day's. I want the house to either restore it or have it torn down for a bigger yard. That would be nice. So do you all have any idea's? Please let me know. Thank you for reading.
2 people like this
4 responses
@schulzie (4061)
• United States
1 Oct 08
I am sorry I really don't have any bright ideas to help you. What I do is do surveys online, do myLot, coupon, refund, buy day old bread at the discount bakery, shop at Walmart and pinch those pennies.
Unfortunately I really don't save much that way but am able to get Christmas gifts, etc. by doing this. I don't think it will amount to enough to buy a house with it though.
Maybe you could get a second job? That is very tiring though. You have to have time to rest too.
Hang in there and good luck!
[b][i]
Have a nice day and happy myLotting!!![/i][/b]
Maybe you could get a second job? That is very tiring though. You have to have time to rest too.
Hang in there and good luck!
[b][i]
Have a nice day and happy myLotting!!![/i][/b]
@onlydia (2808)
• United States
1 Oct 08
I wish I could get a second job. But after the first job I can bairly do house work or move. I'm working on all kinds of things. LOL as they say where there's a will there is a way. But If I don't get it then it was ment to be that way. Will have to look for silver linning.1 person likes this
@jillhill (37354)
• United States
29 Sep 08
Boy that's a tough one.....besides working two jobs I don't know what you can do. I had the same dilemma a few years back when they took back the lot next to me for back taxes. My neighbor ended up buying it so no one could build next to us. But I certainly wished back then I had the money too so I know what you are going through.
1 person likes this
@onlydia (2808)
• United States
29 Sep 08
This will make you laugh, I have a can with house fund writen on it. We all put money into it just started it. But we have over $10.00 so far and that is only from 2 day's. My son gave up fast food.
for a day. Well hey he is trying. He wants it also. So we will keep trying. I won't say I can't do it. There is no way I will I will. I feel like the little train that could. LOL. Thank you and have a nice Day. Your friend onlydia
for a day. Well hey he is trying. He wants it also. So we will keep trying. I won't say I can't do it. There is no way I will I will. I feel like the little train that could. LOL. Thank you and have a nice Day. Your friend onlydia2 people like this
@jillhill (37354)
• United States
29 Sep 08
Well don't laugh here either! My daughter in law and I want a cabin.....we have started a jar too.....we have over a hundred bucks in it from empting our purses when we are together. The weekend we scrapped we each put in 25 cents a page and we are doing other things too....it adds up!
1 person likes this
@onlydia (2808)
• United States
30 Sep 08
I know I love the idea of af a can or jar to get everyone involed. They young men are taking pride in the fact they are finding pennies to put in it. And they are not going out to fast food as much. LOL as they put in the money they would use for fast food into can. Heck who knew they ate off the .99 cent menu. I'm still hopeful. so wish me luck. YOur friend onlydia.
2 people like this
@Guardian208 (1095)
• United States
29 Sep 08
I can not help you raise money for the purchase but I can offer you some ideas. Do you make decent money and have good credit? If so and you can qualify for a loan, you can get the seller to hold a second mortgage. So you can get a solid first mortgage with good terms at 80% loan to value (LTV). And have the seller hold a 20% second mortgage.
Or, you can negotiate the price down below the appraised value, which isn't that hard to do today if the seller really has to sell, then purchase the home and have the seller hold the mortgage. After a reasonable period of time, anywhere from 3 to 12 months depending on the lender, you can refinance the house for the appraised value and then payoff the seller held mortgage. this is a little tricky since loan programs are changing rapidly these days and loans that are available no may not be in 12 months.
A warning though. If the lender gets wind that you intend to tear down the house, they will only loan money on the land value. So be careful who you tell what to.
There are other creative ways to structure this transaction but I don't know enough about the deal to give youany more detail.
1 person likes this
@onlydia (2808)
• United States
29 Sep 08
[Thank you so very much. My credit is not so good lately have had problems like alot of people. My roommate got laid off for awhile so am playing catch up. So would have to come up with something else I'm sure. But yes that will still come in handy. have a nice day. onlydia2 people like this
