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All Forum Posts by: Ryan Sajdera

Ryan Sajdera has started 37 posts and replied 163 times.

Post: Is leasehold property a good idea?

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

@Dennis Bragg I keep getting hung up on the depreciation end as if its allowed or not. What I've found so far is that I can 1031 into it as long as the lease is longer than 30 years. I also talked to the city. If the airport authority would deed the buildings to me, it would cause them to be entered on the tax roll. My 21k per year rent payment to the airport would now be 80k in taxes. The benefit here is that I cannot get behind on taxes and if I fall on hard times and my buildings are empty, my rent payment is based on my income, so I guess that is attractive. Lower income = lower rent. The property also comes with 7 acres that the airport told me i could improve with their permission. I can build a mini storage or whatever as long as the zoning is compliant. Or I can make it a gravel lot, put up a fence, and call it boat and rv storage. The ability to generate more income for simply the cost of a building is another huge cost saving over buying an expensive commercial lot and developing it. I also think that if I can make all of my money back in 4 years with a cash out refinance, what is the danger? After cash out refi in 4 or 5 years, it's all pretend money from there on out. Another thing that my brain keeps milling on is the fact that if in a normally purchased deal, I work hard and pay off a 3 million dollar building in 20 years, and then don't pay my 80k annual property tax, I'm going to lose my 3M building that I "own" but somehow don't really actually own. So who cares if I own or not? I'll be dead by the time the lease ends, so I just need to be able to depreciate it and leverage it and I think it should be pretty close to owning.  As a side note the airport is interested in making a new lease. The current 99 year lease started in 1987, not 1945. And it doesn't even talk about what happens at the end because I guess they all just assumed we'd accidentally fly our cars into the sun in 99 years. 🫠  but there has been some legislation passed that prevents them from going more than 50 year leases. So we would go from a 60 something year lease (it has been extended when she purchased 10 years ago), to a 49 year lease. I would push for a clause that states the buildings and land deed to the leasee after the termination of the lease. That gives an investor a real asset to collateralize and it gives them incentive to not let the buildings dilapidate at the end of the lease. They are very win win oriented and they say each lease is unique and creative it different ways because each of the 130 businesses there are in buildings, factories, hangars, and shops all located on federal ground. So I'm confident I could find a solution, but would probably be forced to walk away if there was no favorable outcome for lease termination for the investor. 

Post: Is leasehold property a good idea?

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

Has anyone ever purchased a deal where a municipality owns the land and the improvements and rents it to the tenant to sublease? This example is an apartment complex in an industrial area owned by an airport. The "rent" is 3% of the gross revenues generated by the property. The airport had the buildings (from when federal gov turned the land over to the Airport Authority after WW2.) and allowed the current "owner" to spend a few $M improving the buildings. They signed a lease for 99 years and it's assumable. The price to the "owner" is the same as a normally valued apartment complex. So... can I:

1. Take depreciation on the structures if I don't own them? Are there any IRS exclusions for long term land leases?

2. Get financing from a lender?

3. Deed the property to me FROM a federal entity (now subject to property taxes)?

There is currently nothing in the lease that talks about what happens at the end of the lease. The airport is willing to make a new lease with us down the road. Is it unreasonable to pay a normally valued apartment price for something that is actually just the rights to a lease? 

Post: Anyone Looking for Owner Financing in this market?

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

Hey all! 

I have a listing agreement with an investor in town that is willing to carryback a full down payment on a 29 unit portfolio. He is flexible and amicable with terms, but I am curious if anyone is looking for/currently doing deals with seller carryback? 

Ryan 

Post: OWNER FINANCING OPPORTUNITY in Junction City, KS

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

Hey everyone! My name is Ryan Sajdera, I am a licensed agent with The Alms Group Real Estate in Manhattan, KS. I have a portfolio of 29 units (Single Family and Small Mulitfamily homes) listed for sale. The seller is willing to carry back the down payment with interest only payments for up to 5 years! Please reach out to me if you would like more details. The best way to get ahold of me is 715-558-3245 or by email at [email protected]. Thanks! 

Post: Commercial Multifamily Lenders with Partial Seller Financing

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

@Tarik Turner Yes, that definitely makes sense and gives me some ideas of things that I can propose to the board. One proposition I made was that if they allowed the deal to go through, I would move all of my business banking over with them and keep my reserve accounts (50-80k) with them in savings. I see where the risk for default is high, and in this case, the rest of our portfolio can float the deal if things turn south. Is there anything I can put together professionally to present to the board? I was going to do 1.) a proforma and analysis on the property itself.   2.) A breakdown of all the assets currently owned by our company and the cash flow for each. And 3.) a structured refinance plan to cash out the initial investor thats keeping his down payment in the deal. 4.) A contingency plan if we have 3 consecutive months of negative cash flow. 

The lender has a relationship and has done deals with both of us before. The seller has a few properties with them and I have some also. I just want to put a strong foot forward on this. Is there anything from your point of view that would help me make a strong case for this investment? Thanks for all your help and input! It is very helpful! 

Ryan

Post: Commercial Multifamily Lenders with Partial Seller Financing

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

@Tarik Turner probably not. I just don't see why the bank cares HOW the rest of the equity arrives. I mean, the seller is willing to carry back 30%. What risk does the bank have with a fully rented apartment complex at 70% loan to value? 

Post: Commercial Multifamily Lenders with Partial Seller Financing

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

Hey All,

I have an apartment complex under contract that the seller is willing to carry back the down payment at exceptionally favorable terms. Does anyone have any commercial lender connections that will allow the seller to take a second-position lien against the property? I have one lender that is going to try. He says that its possible, but difficult to present to the board. I guess I fail to see where the banks assume any real risk in this. To me, the seller assumes all the risk since he's loaning in second position, so I don't understand why banks won't touch this. Can anyone help? This property is in Kansas. Thanks! 

Ryan 

Post: 📺 Live Q&A with David Greene❗❓

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

I would like to know how you continue to scale as an agent without opening your own brokerage. How are you systematizing your business to streamline things? Can you integrate AI or virtual assistants? 

Post: Starting out, Money!

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

Welcome to the community!! Let’s get you plugged into the Fort Riley area connections. I PM’d you my number- give me a call when you’re able and we will get you started on your journey! I work with LOTS of military investors like you. We’ve done just north of a million dollars in deals in the Junction City/ Manhattan area in the last 2 months! 

Post: New to Duplex ownership in Fort Riley, KS

Ryan Sajdera
Agent
Posted
  • Realtor
  • Manhattan, KS
  • Posts 170
  • Votes 89

Hey Kenneth! Welcome to the area! I host a small group of other investors here. Let me know if you'd ever like to connect!