All Forum Posts by: Brent Van de Graaff

I would recommend David Whittaker. He is a great local resource, and he does some real estate investing himself, so he'll speak your language for sure.

As a Nashville investor, my preference for being close to town is driven by a couple of factors: 1. Prices have been going way up both in and out of town. When it starts to slow down, which is inevitable, I expect that outlying areas would be affected more so than homes in town. 2. Traffic is getting worse by the day, and as the population keeps growing and the communities become more dense, the traffic will likely continue to worsen, making the homes closer in more desirable. That said, I'm not opposed to investing in the surrounding areas (especially when you consider schools). I just feel that the homes closer in may be a bit more stable and desirable over the long haul.

Originally posted by @Dave Foster:

@Russell Brazil,  Great point about contingencies.  The problem though is that as a market heats up sellers do become more skittish about any contingencies but it's worth a try. 

But -Tax Armegeddon?? I love it.  It's really not as dire as that is it? 

Hey @Brent Van de Graaff,  You're making the right moves and your analysis has been right on.  My best piece of advice is remember that you were going to pay the tax and if your exchange fails that's all you do - pay the tax.  It's never worth buying wrong just to complete the exchange.  Like it's been said, beat the bushes and get a lot of folks beating the bushes for you.  Pocket listings are still everywhere. 

Great advice as always, Dave. I should have been more present at my local REI meetings this year. Oh well, there's no time like the present to get into gear!

Originally posted by @Robert Hetsler:

well have 2 back up plans and give yourself as much time as you can as well as work with an agent who understands 1031's and the urgencies.  I would have a plan B market or they have a couple of failsafe options that you can name during the identification peiord if you really find yourself with no where to go.  That way you, at least know you can avoid the taxes.  

Thanks, Robert. I hadn't thought about a back up market just in case. That's a great idea!

Originally posted by @Russell Brazil:

My strategy with 1031's is first to identify the property that you want to purchase, then put in an offer on it contingent on doing the 1031 exchange.  This will take that ticking timer counting down to tax Armageddon out of the equation entirely.

Hi Russell, thanks for posting. I'm not sure I understand what you mean here.

I forgot to mention that I'm planning to do a delayed exchange. Do sellers really care whether or not the buyer is using 1031 money in a delayed exchange?

Hi,

I am about to open a 1031 and anticipate buying 2 or 3 homes ($120-180k ea.) in the Nashville/Middle Tennessee area, which is a very hot market with limited inventory. 

I haven't sold my existing investment property yet (fingers crossed for a closing next week), so the 45-day identification period hasn't officially started, but I'm trying to formulate my strategy to make sure I make the most of it.

What are your best approaches to "buy right" so to speak when you're up against the 1031 clock and battling a competitive market?

Brent

Thanks, Larry!

Thanks Seth!

Hi,

I wanted to take a minute or two to introduce myself. My name is Brent van de Graaff, and I am a recent transplant to Nashville TN from the Washington DC area.

The reason I call myself a quasi-newbie is 2-fold; I have been a marketing and technology professional for ~15 years, 9 of which were in the mortgage industry. In addition, I have been a landlord for the past 4+ years on a condo that used to be my primary residence in the DC area.

I found BP by investigating strategies for buy and hold, and small apartment wholesaling. I would eventually (hopefully later this year) like to sell the condo in DC and invest the equity into deals that produce passive income.

Anyway, I have had a great time digging through this trove of content and experience, and look forward to networking with you all and starting the journey.

Brent