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21 October 2018 | 2 replies
(e.g. contiguous)- Comprised of 4 parcels:P1 - 70 acres with 2250sqft 200yo house and 20yo barn.P2 - 35 acres with under conservation easement.P3 - 5 acre minor sub division home lotP4 - 5 acre minor sub division home lotSITUATION- Seller is 70yo and retiring in 2019- Seller has heIrs who are absent and uninterested in owning the property (will eventually sell inheritance)- Seller is a frIend and neighbor of the famIly- Seller (and our famIly) have preservation/non-development hopes for land in the neIghborhoodOUTCOMESFor the Sellers:- Immediate cash lump sum (property needs some work)- "Guaranteed" monthly/annual payments for deal term- Retain ownership and occupancy of real estate until they vacate- Seller retains ownership if buyer defaults- Continuity of neighborhood legacyFor the Buyers (us):- Acquire property rights- Fixed sale price- Known caretaker/occupant- Continuity of neighborhood legacyDEAL OPTIONS- $450-500k sale price- 10% down- 20 year term- 0% Interest- Land ContractThis seems like a good option to consider in terms of managing tax impacts to both parties, but at the cost of fewer “ownership rights” for both parties.- Seller FinancingThis seems like a good option to consider in terms of better “ownership rights” for both parties, but at the cost of trickier tax implications.
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24 November 2018 | 8 replies
I'm a little late to the game, but a friend of ours is a lender in Greenville.
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24 October 2018 | 4 replies
I had a friend who was an investor and she said to work in 10% for maintaining the property.
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30 October 2018 | 7 replies
My plan is to buy a house and rent it through property management or work with my friends to manage it.
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22 October 2018 | 3 replies
Hey all, I'm considering lending cash to a flipper friend of mine so he can make a cash purchase on a $200,000 deal which is requiring certified funds.
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26 October 2018 | 4 replies
I couldn't see it costing me less than $90k and I had friends whose similar sized flips had been sitting on the market in Santee with no offers for several months.
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16 September 2018 | 1 reply
Hello, I am a land investor and I'm looking to employ the "Profit First" strategy to help me manage my financials. If you're not familiar it basically recommends that you have a bunch of bank accounts (income, profit...
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1 October 2018 | 9 replies
IF they allowed you to 'roll it back out' if you wanted then it might be OK, but even then, I would think the fees in that program would far outweigh having an IRA, and you would have more flexibility too.A friend of mine rolled his into a SDIRA, and DOES do his new companies 401K with NEW contributions since they match those at up to 6% of his salary.
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13 September 2018 | 3 replies
I am looking to purchase my first rental unit in the Baltimore area and am looking for an agent who is ok with making multiple offers. I am out of state but looking specifically for condos and townhouses around Hopki...
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19 September 2018 | 8 replies
Working on getting into my first investment property and the plan is to partner with 2 friends.