9.4.2019 update
Between the Miller family and our family, we have been hosting a single mother and her four young children over the past ten days while she is in between housing arrangements. So when they are with us, our house occupancy jumps to 13. This has been more stretching for me (Rich) than I expected. But it has had its share of rewards as well. As we have said, this is God's house on loan to us, so it should be used not just for our family but for others. Sometimes it is easier to say those nice things than to live them out. Broken legos, spilled milk, defiant lower lips, and willful disobedience all have a way of pulling out the props of stability and comfort and bringing me back to my knees. Rich
2.7.2019 update
We have had the privilege of living in our house for over three months now. There is no need to keep a guest book when you desire to practice hospitality every day. That said, living in the Bronx has had fewer daily "drop-in" visits than we had at 221 Ridgewood. We are looking to go deeper in love for our Father, and to pray more in this season.
11/27/2018 update
Thanksgiving day we hosted 8 international students (4 Korean and 4 Japanese), we had two Jamaican neighbors over, a neighbor from Trinidad, and a Puerto Rican friend from Harlem. God is good.
y9.22.2018 update.
Yesterday morning I (Rich) received a text from a woman named Sandy "You are awesome!!!!" This felt good. Real good. :-)
Then she sent another text "Let's buy a house and move in together!!!" She's funny, this Sandy. Real funny.
So we bought a house yesterday afternoon. The keys I have in my hand are to the house, but the building in the background is actually a school. I figured that having known my wife since January of 1995 (well, technically she wasn't my wife until June 20, 1998, maybe we could start living in our own house together. On that note, this is actually God's house, because without the big, little and in-between miracles that God provided over the course of the past eleven months, we would definitely NOT have been sitting in a conference room closing on a house in the Bronx yesterday afternoon.
Twenty-eight (actually, when we count the givers as couples it comes to more like 51) exceptionally generous friends and family members, as well as one of my employers, were given to us towards this purchase of a home in the Bronx.
Loans received: $80,500
Gifts Received: $50,645
Thank you, Jesus, for your ongoing gifts. In this case the gift included, but is not limited to, a loan of one of your houses for us to live in now while you prepare that mansion in heaven.
Rich
Remnants of a 04.04.2018 post continue below....
I figure that in our nineteen years of marriage we have paid about $289,000 in rent. Option five looks less appealing to me, but it is an option if we are unable to finance a house purchase this summer.
Today I received a surprise call from a good brother who lives in Long Island and attends a sister church in Queens, NY. This brother said he found out that we are planning to move to the Edenwald section of the Bronx to participate in a church plant. I advised him that we are looking at Williamsbridge more than Edenwald, but agreed that Edenwald is an adjacent community. This brother advised us that he bought a house in Edenwald two years ago and he is renting out the first floor and second floor, but the basement is open and finished and we could meet in the basement for our church services, or we could have an office in the basement and he would not charge us rent! Wow! And it's only eight blocks from where our Nigerian brother Ike lives. He went on to say that he is bringing some of his tenants with him to come visit Followers of Jesus tomorrow to introduce them to us.
"The Bronx needs your family there, Rich," He said several times.
Sandy and I were VERY encouraged by his phone call.
Rich for the Schwartz fam.
Yesterday morning I (Rich) received a text from a woman named Sandy "You are awesome!!!!" This felt good. Real good. :-)
Then she sent another text "Let's buy a house and move in together!!!" She's funny, this Sandy. Real funny.
So we bought a house yesterday afternoon. The keys I have in my hand are to the house, but the building in the background is actually a school. I figured that having known my wife since January of 1995 (well, technically she wasn't my wife until June 20, 1998, maybe we could start living in our own house together. On that note, this is actually God's house, because without the big, little and in-between miracles that God provided over the course of the past eleven months, we would definitely NOT have been sitting in a conference room closing on a house in the Bronx yesterday afternoon.
Twenty-eight (actually, when we count the givers as couples it comes to more like 51) exceptionally generous friends and family members, as well as one of my employers, were given to us towards this purchase of a home in the Bronx.
Loans received: $80,500
Gifts Received: $50,645
Thank you, Jesus, for your ongoing gifts. In this case the gift included, but is not limited to, a loan of one of your houses for us to live in now while you prepare that mansion in heaven.
Rich
Remnants of a 04.04.2018 post continue below....
I figure that in our nineteen years of marriage we have paid about $289,000 in rent. Option five looks less appealing to me, but it is an option if we are unable to finance a house purchase this summer.
Today I received a surprise call from a good brother who lives in Long Island and attends a sister church in Queens, NY. This brother said he found out that we are planning to move to the Edenwald section of the Bronx to participate in a church plant. I advised him that we are looking at Williamsbridge more than Edenwald, but agreed that Edenwald is an adjacent community. This brother advised us that he bought a house in Edenwald two years ago and he is renting out the first floor and second floor, but the basement is open and finished and we could meet in the basement for our church services, or we could have an office in the basement and he would not charge us rent! Wow! And it's only eight blocks from where our Nigerian brother Ike lives. He went on to say that he is bringing some of his tenants with him to come visit Followers of Jesus tomorrow to introduce them to us.
"The Bronx needs your family there, Rich," He said several times.
Sandy and I were VERY encouraged by his phone call.
Rich for the Schwartz fam.
A Background
The photo at the top is a stock photo of a one family row house in the Bronx, in the neighborhood we are looking. The one right above is Belvedere Castle in Central Park, taken 1/24/2018.
Lord willing, the Schwartz family will relocate to the Williamsbridge section of The Bronx, the northernmost borough of New York City, in August of 2018. We intend to participate in spiritual community with a small group of believers as we extend the love of God in our neighborhood(s), with the hope that we can together plant a Christ-centered church as an extension of Followers of Jesus Mennonite Church.
Anyone trying to find an apartment for rent for a family of eight in New York City knows that not all landlords get wide smiles or extend happy handshakes at the thought of renting to large families. If we rent, we anticipate paying between $1800-$2500/month for a 3 bedroom apartment. Some time ago, our friends Dwight & Zonya Gingrich coined a term “churchfunding” and borrowed money from a number of their friends to buy a house in Atlanta. We (Rich & Sandy) explored with others what "churchfunding” could look like for us, and have decided to move towards this route.
We have been looking at purchasing a one-family house to live in, and to have as a kind of center of our ministry operations. The prices for one-family homes in that section of The Bronx range from $350,000 to $450,000. We are not in a position to buy a house without some assistance towards a down payment. With churchfunding, we offer several options for you to partner with us in this move to The Bronx:
1. You can pledge to lend us any amount that we commit to pay back within fifteen years, at 10% straight interest (not compounded). We can do this for up to $100,000 total in micro-loans and make the 15 year repayment schedule work. This is not likely to make you much ROI (return on investment), because we are not compounding the interest. The repayment designee will be decided monthly from the pool of persons who have given the microloans. So those who receive a repayment in the first year would receive 10% interest and would make the most on interest. If a larger loan is given, that person will receive multiple payments, possibly over multiple years depending on if their name is chosen. Those receiving a repayment towards the end, say fifteen years from now, would make 10% straight interest as well, which would be well under 1%/yearly. If you have interest in participating in a micro-loan to the Schwartz family towards creating a down payment fund to purchase a house, please let us know via private message or text 3474130330, or email us at uwriterich@gmail.com.
Another note on the lending side of this churchfunding venture. We plan to begin our repayment schedule after closing on the purchase of a house.
2. Some people have asked if they can give us money towards the purchase of a house in The Bronx. As noted earlier, this house would be used as a base for us to live in and to minister from during this next season of our lives. A gift towards a purchase of a house in the Bronx would be, wow, a gift! Yes, you can give us a gift directly if you prefer to give a gift instead of a loan. At this point, we are not linked to a 501(c)3, so we cannot offer you a tax deductible receipt. We do plan to provide updates to all who give regarding our total gifts received, and we plan to report this information to the deacons of our church here in Brooklyn, Followers of Jesus Mennonite Church. We desire to be responsible and faithful in our financial accountability.
3. Pledging and committing to 30 year loans of $50,000 or $100,000 (or more) so that we can obtain loans through private lenders for the remainder needed. For a handling fee of 0.5% interest, Anabaptist Financial would be able to provide some accountability and tracking/depositing for larger loans that would require 30 year repayment plans. Getting a conventional loan for a $400,000 house in The Bronx appears to be difficult at this stage because we cannot count a portion of our previous year's income (from Followers of Jesus Mennonite Church).
A few things to note about gift-giving. One, any gift you give to us towards the purchase of a house, 90% of your gift will go towards the house purchase, and 10% of your gift will be given to Followers of Jesus Mennonite Church, our home congregation and the sending church for us on this church plant venture.
Another fun fact is the following information sent to us by our accountant friend, Caleb Jenkins, regarding gifts and taxable income:
For 2017 the gift limit is $14,000 from one individual to another individual. From a married couple to another married couple that is $14,000 times 4 which equals $56,000. For 2018, the gift limit goes up to $15,000 for individual to individual which is $60,000 for the married couple to married couple. Even if the gift goes over the $14,000/$56,000 limit for 2017 or $15,000/$60,000 limit for 2018, there is still no tax involved until it reaches your lifetime gift/estate credit limit which is $5,490,000 (or $10,980,000 for a married couple). All that is involved if the gift is over the $14,000 or $15,000 limit is filing a gift tax return which eats into your lifetime gift/estate credit limit.
Wow! Who knew? I think we have some room yet in our lifetime gift/estate credit limit.
Lord willing, the Schwartz family will relocate to the Williamsbridge section of The Bronx, the northernmost borough of New York City, in August of 2018. We intend to participate in spiritual community with a small group of believers as we extend the love of God in our neighborhood(s), with the hope that we can together plant a Christ-centered church as an extension of Followers of Jesus Mennonite Church.
Anyone trying to find an apartment for rent for a family of eight in New York City knows that not all landlords get wide smiles or extend happy handshakes at the thought of renting to large families. If we rent, we anticipate paying between $1800-$2500/month for a 3 bedroom apartment. Some time ago, our friends Dwight & Zonya Gingrich coined a term “churchfunding” and borrowed money from a number of their friends to buy a house in Atlanta. We (Rich & Sandy) explored with others what "churchfunding” could look like for us, and have decided to move towards this route.
We have been looking at purchasing a one-family house to live in, and to have as a kind of center of our ministry operations. The prices for one-family homes in that section of The Bronx range from $350,000 to $450,000. We are not in a position to buy a house without some assistance towards a down payment. With churchfunding, we offer several options for you to partner with us in this move to The Bronx:
1. You can pledge to lend us any amount that we commit to pay back within fifteen years, at 10% straight interest (not compounded). We can do this for up to $100,000 total in micro-loans and make the 15 year repayment schedule work. This is not likely to make you much ROI (return on investment), because we are not compounding the interest. The repayment designee will be decided monthly from the pool of persons who have given the microloans. So those who receive a repayment in the first year would receive 10% interest and would make the most on interest. If a larger loan is given, that person will receive multiple payments, possibly over multiple years depending on if their name is chosen. Those receiving a repayment towards the end, say fifteen years from now, would make 10% straight interest as well, which would be well under 1%/yearly. If you have interest in participating in a micro-loan to the Schwartz family towards creating a down payment fund to purchase a house, please let us know via private message or text 3474130330, or email us at uwriterich@gmail.com.
Another note on the lending side of this churchfunding venture. We plan to begin our repayment schedule after closing on the purchase of a house.
2. Some people have asked if they can give us money towards the purchase of a house in The Bronx. As noted earlier, this house would be used as a base for us to live in and to minister from during this next season of our lives. A gift towards a purchase of a house in the Bronx would be, wow, a gift! Yes, you can give us a gift directly if you prefer to give a gift instead of a loan. At this point, we are not linked to a 501(c)3, so we cannot offer you a tax deductible receipt. We do plan to provide updates to all who give regarding our total gifts received, and we plan to report this information to the deacons of our church here in Brooklyn, Followers of Jesus Mennonite Church. We desire to be responsible and faithful in our financial accountability.
3. Pledging and committing to 30 year loans of $50,000 or $100,000 (or more) so that we can obtain loans through private lenders for the remainder needed. For a handling fee of 0.5% interest, Anabaptist Financial would be able to provide some accountability and tracking/depositing for larger loans that would require 30 year repayment plans. Getting a conventional loan for a $400,000 house in The Bronx appears to be difficult at this stage because we cannot count a portion of our previous year's income (from Followers of Jesus Mennonite Church).
A few things to note about gift-giving. One, any gift you give to us towards the purchase of a house, 90% of your gift will go towards the house purchase, and 10% of your gift will be given to Followers of Jesus Mennonite Church, our home congregation and the sending church for us on this church plant venture.
Another fun fact is the following information sent to us by our accountant friend, Caleb Jenkins, regarding gifts and taxable income:
For 2017 the gift limit is $14,000 from one individual to another individual. From a married couple to another married couple that is $14,000 times 4 which equals $56,000. For 2018, the gift limit goes up to $15,000 for individual to individual which is $60,000 for the married couple to married couple. Even if the gift goes over the $14,000/$56,000 limit for 2017 or $15,000/$60,000 limit for 2018, there is still no tax involved until it reaches your lifetime gift/estate credit limit which is $5,490,000 (or $10,980,000 for a married couple). All that is involved if the gift is over the $14,000 or $15,000 limit is filing a gift tax return which eats into your lifetime gift/estate credit limit.
Wow! Who knew? I think we have some room yet in our lifetime gift/estate credit limit.
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More DetailsWho is responsible for this churchfunding idea?
Three answers: (1) we followed the churchfunding venture of Dwight and Zonya Gingrich two years ago as they moved from Iowa to Atlanta and purchased a home in Atlanta (read more about it at http://dwightgingrich.com/churchfunding-house-in-atlanta-official-launch/ (2) we settled on The Bronx in 2016, and began thinking home ownership may be better than renting for this next season in our lives, so we started pursuing this churchfunding idea (3) We posted on Facebook that we may consider churchfunding, checked with friends and family, and discussed the matter with Caleb Jenkins, an accountant friend. Caleb has offered to provide counsel and financial advice during this process, especially during the initial stage of recruiting pledges and funds. Sandy and I take full and sole responsibility for all repayment responsibilities associated with this project. While I thank our other friends for advice and counsel, they bear no responsibility whatsoever for repaying any loans. If I fail to repay these loans, I give permission in advance for my brothers and sisters in the church of Jesus Christ to discipline me as described in Matthew 18 and related NT texts. I urge my co-church planters and my personal advisers to hold me accountable to this commitment and give them permission to help craft appropriate repayment plans if I fall short, whether through moral failure or financial difficulty. If I am interested in partnering, what shall I do? Please communicate with us first via email to uwriterich@gmail.com, or text/call either Rich or Sandy, or message us. This way we can tabulate your pledged loan in our database in preparation of receipt. Then you can mail the check made payable to Richard Schwartz to our address (see "Contact Us" on this site). Legal Disclaimers If you choose to provide us with a loan, you are lending money to us, Rich and Sandy Schwartz, on a personal basis. This is a trust-based transaction, and there is no legal recourse if you are not paid back. We are promising to repay the loans, and we will do our utmost to keep our promise, including selling assets if necessary, but these loans are not collateralized by our home or assets. You agree not to take legal action against Rich and Sandy (or our church partners or advisers) in the event of any problems with this process. Please do not invest money that you can’t afford to lose, or money that you will need sooner than 15 years from now. All investors agree to be paid back at a random time in the next 15 years, at the specified rate. You agree that the interest you may receive will not be compounded or adjusted for time loaned. In addition, if you ask to be repaid sooner than the random schedule provides for, you agree to forfeit any interest owed to you, at our discretion. These loans are not secured or insured by the FDIC, are not bank deposits, may lose value, are not bank guaranteed, and are not insured by any federal government agency. By sending money to Richard Schwartz via mail or electronic payment, you agree to be bound by these terms and conditions. Addendum: If, for legal reasons, someone making a larger contribution (say, in excess of $2,500) needs a promissory note, we would be glad to provide one. Personal note: If you are not comfortable lending under these conditions, then please do not lend. We will not be offended! We offer this opportunity for you to partner with us. But it is only that, an offer. Thank you for your interest! For Jesus, Rich and Sandy |
I Timothy 6:1-6
6 But godliness with contentment is great gain. 7 For we brought nothing into the world, and we can take nothing out of it. 8 But if we have food and clothing, we will be content with that. 9 Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. 10 For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs. Final Charge to Timothy 11 But you, man of God, flee from all this, and pursue righteousness, godliness, faith, love, endurance and gentleness. 12 Fight the good fightof the faith. Take hold of the eternal life to which you were called when you made your good confession in the presence of many witnesses.
"Godliness with contentment."
Serve with prayerful gratefulness.
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Godliness
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with
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Contentment
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