All Forum Posts by: Ryan Shannon

For me it would depend on if I have worked with the agent before or if this is a new collaboration.  Either way, no one should work for free, so you need to ask yourself, how much did this person contribute to this deal.  Did he/she find it for you?  Did he/she come on board near the end? Etc.  But some compensation would be appropriate, but its a spectrum from Amazon gift card to a couple thousand cash (tax free...#winning).  But like anything else, if you take care of them, they will take care of you going forward.  So look at it as buying a potential rock star.  Hope that helped.

I have a deal to purchase a great property in a great area for 150K.  The issue is there isn't room for much value add, maybe 20-30K under market value, also the seller plans to do a 1031.  I will have 20% to put down to purchase in about a week, but don't want to use all my cash effectively halting my purchasing power until I can save more cash. I am looking for a creative solution to acquire the property with as little cash out of pocket as possible?  I have spoken with the king of 1031 Dave Foster and he is currently on the case, but wanted to get other ideas as well.

Few ideas I have come up with are:

1. Rental arbitrage

2. Lease option for 12 months

3. Seller financing anyway possible allowing them to 1031. I even considered using my own 30K as the 20% down, then have them "pay me back" after the 1031 is complete. Not even sure if that is a thing.

@Dave Foster

Thank you, I’ll reach out to him.

Good morning Susie, I agree with them.  I had the same thing happen to me recently and I ran the numbers and decided to pull out the extra money because of the flexibility it afforded me.  Also, pulling out cash during the refi now instead of later if you decide to sell it allows you to avoid paying tax on the portion of the money.  Congrats on the great deal.

Good morning biggerpockets family.  Was about to get a deal under contract with 90% seller financing, then the seller's grandson jumped in saying they now plan to do a 1031 exchange.  He is also telling me that you cannot do a 1031 exchange if you sell the property using seller financing.  Anyone out there know if there is a way to accomplish this? 

Thank you so much in advance. 

I’m definitely gonna be looking for a house that I can add value to then rent when I leave

I was just notified that I will be moving to Columbia around July/August timeframe. I have been actively investing in Savannah area, but need to shift focus for at least a couple years. Looking for a house hack or a SFR that needs work.

I look forward to joining the local REI and working with other investors in the area.

I have searched so many sites just trying to get a rate estimate.  

Loan details:

Loan Type: Cash out REFI (BRRR)

Loan amt: $225,000

LTV: 75%

Term: 30 yrs

Property: Duplex

Credit: 720+

Rate: ??? (just need an estimate to run numbers)

Thank you all for any and all help.

Thank you so much

Bought a house in Savannah that only has a few years left on the roof.   Looking for a good roofing company that will do a good job and are competitive.  Thank you for any and all help.