All Forum Posts by: Gregg Gannett

First, what is your goal and what is your timeline: $$$, # of deals, education & experience, Kingdom with a Castle and time 6 months, 1,2,3yr for phase 1?

Second, what is your personality type: methodical, impatient, micro/macro thinker, deal maker, hands on/off, Rogue Captan?

These simple quips can be a deceptively sneaky trip line at times.

To me there are some sound suggestions listed but it will invariably depend on your fundamentals starting out cold, if this is the case. Luckily, your job keeps the status quo without the added pressure to "make it" right away. You have built and sold a business so you understand the importance of building a foundation and longer term adaptable plan. When flush with cash it can be to temping to buy in on deals or start in the middle when one needed to begin a few steps back. 

Having been in your situation a number of years ago (via real estate) there is wisdom in starting small and then looking for bigger deals with leverage when comfortable or opportunistic. Consider a few JV deals in the timeline which will expand your network, minimize risk in new areas and give you a bit of a backstop. It can also create an additional exit strategy through a buyout. Having a downstroke available can be very empowering but it is all relative to the strategy of the goal and where one is not the # of 0s in the deal. The oar in the water is to be able to add value on a discounted purchase. With that said, $180k can kick off a lot of SFR flips in a single year but it probably won't get you into a 1MM multi deal on your own so whats the goal and what is the timeline...and what are you comfortable with starting out?

They quit possibly are making you bid against yourself scam or not. Trust your gut and if having already offered your highest and best why raise it twice more? You opened the post with saying you are in it for "sentimental reasons" and thusly under different rules to make a decision than a typical investor would. Intersetingly, a previous offer fell through so any info from the Broker who is seeing both sides as to why? If the VA has to start over so do you with the initial offer as their actions have shown, they will come back for a "Highest and Best" either way. Good luck.

In conjunction with those in the BP Universe who have chosen to live outside the border to pursue their goals here is a link to a good article examining the cost of living in Merida, Yucatan. If ever considering alternative living in a unique city abroad for lifestyle investing, flipping or to manage from afar this updated article addresses a vast range of costs for Merida considered to be the longest inhabited city in the Western Hemisphere. 

http://www.yucatanliving.com/yucatan-survivor/the-... 

-G

Can any one offer creative deal structuring or advice on winding out of a SFR property in Mexico back into the US other than a retail sale? There is a Fideo (land trust) in place with the Government which allows all normal US type real estate transaction. A 1031 will not work back into US I believe and curious if forms of equity swap or other methods can be mutually beneficial. Thank you in advance for your comments.

Gregg