All Forum Posts by: Jordan Buie

Hello,

I'm a young real estate investor in Tennessee, new to the business and looking to meet and connect with other investors in the area.

Thank you, @David Dachtera

Thank you, @Tim Walker

So, I'm going to paint a scenario, and I want to see what the world of bigger pockets has to offer.

So lets say Bob has a property worth $270,000 in which he has $70,000 in equity. His elderly aunt has another property she is giving him worth $120,000 that is paid off, but she wants to continue living in the property until she dies, she also owns a property worth $45,000 in which about $18,000 is owed, but Bob believes because of the condition of his elderly aunt's shaky finances, he believes he can do a shortsale with the bank for $10,000. Let's also say Bob has about $15,000 in cash in the bank, and is cashing flowing about $400 on the property worth $270,000 that has just been purchased. Bob is looking at jumping deep into the world of real estate investing. What is the best possible option for Bob, what's the most he could do with his cash and equity? @Brandon Turner@Joshua Dorkin Also, how could he tap into the equity of the property his aunt is giving him, while mediating the risk of losing his aunt's residence?

Maybe for later Jay, :), but I'd love to hear your response if you have any ideas.

So, I'm going to paint a scenario, and I want to see what the world of bigger pockets has to offer.

So lets say Bob has a property worth $270,000 in which he has $70,000 in equity. His elderly aunt has another property she is giving him worth $120,000 that is paid off, but she wants to continue living in the property until she dies, she also owns a property worth $45,000 in which about $18,000 is owed, but Bob believes because of the condition of his elderly aunt's shaky finances, he believes he can do a shortsale with the bank for $10,000. Let's also say Bob has about $15,000 in cash in the bank, and is cashing flowing about $400 on the property worth $270,000 that has just been purchased. Bob is looking at jumping deep into the world of real estate investing. What is the best possible option for Bob, what's the most he could do with his cash and equity? @Brandon Turner @Joshua Dorkin Also, how could he tap into the equity of the property his aunt is giving him, while mediating the risk of losing his aunt's residence?

And @Upen Patel that reserve would mean 6 months in mortgage and tax payments?

You guys are are awesome! 

Also @Dave Foster, @Upen Patel Do either of you know if in a 1030 exchange from a single-family property to multiple properties has the requirements of purchasing investment property through traditional means, such as a six-month emergency fund for each property? And how would it work if the single-family property is not owned in full, but has about a third of the value in equity?

@Dave Foster How does one go about setting an exchange like that up?