Hello all, I am fairly new to the forum and like the rest of you all, I am a money maker (we all did take the initiative to find this forum). So recently I've been linking up with one of my wealthiest friends (a very young multi-millionaire) who is a direct developer of 2-3 family investment properties in NYC (buys foreclosed homes, fixes them up with his own construction company, and then resells them at the higher appraised value).

These houses will already be occupied by tenants whose rent will be covered in full by government grants and programs so that the rent collected will cover for the full amount of the mortgage payments. On top of that, with the grants and programs available and because of the low cost of fixing up the property, he is able to cover for the full amount of the costs associated with buying a home for qualified buyers (a qualified buyer would have a credit score of 580+, been working for 2 years making an annual income of 55k+). So no down payment, lawyer fees, closing costs, etc. Literally $0 out of pocket, not a single penny. So the offer is: own a 2-3 family investment property in NYC, whose mortgage pays for itself, without paying a single dollar. What do you guys think about this plan for investment purposes?

Good luck finding financing for this kind of purchase