All Forum Posts by: Adrian Rae

@Christopher Phillips If I'm interested in a property, and in this case the broker is the seller who listed it as a cash only purchase due to lack of comps, is it worth the effort of trying to find an appraiser who's willing to accept a similar-enough property to complete the appraisal? Apparently only one more comp is needed, and based off the listing the property actually appears to be listed well under value. I find this suspicious, but I am so new to this I really have no way to tell. 

Hi All! Throwing this out there as I am new to REI, but interested in growing my network in Midland/Odessa, TX. Any referrals would be greatly appreciated for brokers, agents, local lenders, contractors, etc!

Thank you!

I'm seeing "Cash only - no comps for an appraisal" in the description of a listing for a multifamily in a small town and am wondering what the downside of this could be. The all cash payment seems like a major downside being that I'd have to look at private money which could delay the cash flow while that's being paid off...but what else am I not considering here? Thanks!

@Caleb Heimsoth Great, thanks!

@Dave Foster Thanks for your reply! I suppose it is a good piece of information to be aware of going into the deal. As you and @Wayne Brooks both pointed out, could even offer some leverage to myself as the buyer. Good to know, thank you!

@Matt Carey

Thanks!

@Greg Dickerson and @Wayne Brooks, Thanks so much for your reply! I appreciate it.

For the most part, I think I understand the basic idea of a 1031 Exchange. Let's see: You sell one property, and to avoid paying cap gains tax, you then reinvest those profits within 45 days into a larger "like kind" property. Yeah?
So if I, as a buyer (full disclosure, major newbie here!), see that under "sale conditions" it's listed as 1031 Exchange, what affect would that have on me - somebody interested in purchasing their property? Could this mean the actual sell of this property is contingent upon the seller finding a property of their own to 1031 Exchange?

Thank for your help clarifying this for me.