We have exciting news. Blooming Sky was just featured in BrickUnderground again.
Here is the link to the article:
ONE WAY TO WRANGLE CASH FOR A DOWN PAYMENT: BRING IN A SECOND BUYER
If you don't have time for the full read, here are the highlights:
- Many NYC residents have high incomes, which enables them to have access to financing, but they have low cash reserves, which prevents them from buying property.
- Consider partnering up with a business partner, close friend or family member on the purchase of a NYC apartment. One person brings the cash, the other brings the cash flow.
- Identify properties that accept 90% financing to minimize the initial cash outlay.
- Agree on terms under which the property will be sold.
- Enjoy the tax benefits and capital appreciation.
Enjoy the read, and have a great weekend!
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