All Forum Posts by: Patrick Barker

Thanks for the thoughts, I tried to explain the seller financing option would lower his tax burden but he was adamite about not paying ANY taxes ha.  I like the master lease with option to buy option as well, as is everything in RE, it is all about the numbers to make it work

I am talking to a potential seller who has approx. 20 units in the form of small multi family dwellings (duplexes to quads).  With failing management and poor returns he wants to sell but doesn't want to pay taxes on the sale.  The properties are in a trust from selling his grandfathers timber land and using a 1031 to roll the earnings into these properties.  He is under the impression that his only option is to sell outright and roll all earnings into another property.  I am hopeful that there is a seller financing option that would be beneficial for both parties.  Any thoughts or ideas on this?  Thanks!! 

I have a couple in Saint Mary’s and Kingsland 

Hey Richard,

  Awesome to hear!  Do you currently live in Camden?

Hey @Valerie Smith!

  Sorry for butting in!  I invest in camden county as well so wanted to see what kind of deals you have done in the area.  @Matthew Coleman and I own a property next to one another!

     I had a tenant who had been paying on time every month for about 8 months and then he was late, I did what you shouldn't do and gave him some extra time to get it to me... Before I know it he is MIA, unit is empty and I can't get ahold of him, however, there is a co-signer on the lease.  What is the best way to approach the co-signer to get as much of the unpaid rent as I can?

Thanks for the help!

@Elizabeth Wilson  That was my plan, I just wanted to get some advice from anyone who has gone through it, such as who to ask for and what to ask.

    An investor in my area had about a dozen properties that were for sale off market, I made my first round of offers on each one and before the seller could counter the agent informed me that the bank was taking back possession of all of them.  The bank is local who I have worked with in the past and will be posting their notice in the paper in March and won't be able to entertain my offers until April 1st (this is all info from the agent).  

    So what are my options on getting out in front of this so that I am not just sitting on the sidelines, waiting to see what will happen?  I would like to purchase them before the bank decides to put them on the market or go fix them up before selling them.

    Any advice would be appreciated!!  Thanks BP Fam!

@Justin Dossey Atlanta is about 5hrs from here in Saint Marys, Ga

An acquaintance and I have been in discussion for awhile now about partnering on some future buy & hold deals.  I know there is a lot that goes into partnering with some one but my question is how people recommend we structure it.  My contributions would are: I have my real estate license, I live in the area we would like to invest in so I would be managing the renovation, tenant placement, and property management.  His contribution would almost purely be monetary but we both agree that I should have some of my own money invested as well.  One idea would be for me to contribute 20% of the funds plus everything mentioned prior while he provides 80% but we split the profits 50/50 what are your thoughts and/or experiences?  Thanks!