All Forum Posts by: Jandy Stiff

@Jack B.

If you have any questions about TN, lemme know! I’m an investor/agent in Nashville.

I would love to be an architect--had always planned to until I played it safe with marketing. I refuse to go into more debt for schooling until I can pay cash for it.

I'd love to connect with some developers around the central TN market.

I'd like to eventually be one myself but for now, I've recently stepped into being a real estate agent and want to expand my network. I've previously worked with several investors as a marketing and media consultant.

1. 1. How'd you get into the development space?
2. 2. Did you start doing it full time from the get-go?
3. 3. How long have you been actively doing it
4. 4. What would you say is the "too many projects" threshold?

I heard about a lender in Colorado who has a loan program where they can take signed leases and add to the debt-to-income. 

I'm in Nashville and would like to do the same thing, just curious:

1. Who has done that?
2. Who was the lender?
3. What were some of the details?

Trying to get a seller-financed deal under contract and they've raised 2 things that I don't really know how to address.

Part 1: Understand the seller's perspective. 

I know the bank has to appraise the property when I try to get a mortgage 2 years down the line. However, he said, "it must appraise at the timing of your new mortgage application. This can be problematic for both parties."

1. 1. What do you think the seller is saying here. I don't see how it's problematic for both parties, this is a very appreciating market.
2. 2. If the seller doesn't think it'll appraise at the end of the 2-year seller finance period for the agreed purchase price, what terms do you write in the contract?

My thoughts are that we agree on a price after appraisal, maybe 5-10% under ask? And then at the end of the 2-year term, it gets reappraised and I get the loan. If it's less, then we'll write terms in the contract that allow for renegotiation?

Part 2: Seller Brought Up Taxes On Their Gain and Added To Selling Price

I don't know about anything the seller goes through after they've agreed to seller finance. Can someone help me understand the seller's thoughts here? See quote below:

"I can do a 1031 C, however a seller-financed option for even a year or two wouldn't provide the cash for me to invest into another market. So, I would estimate the tax to be in excess of $20k." Then he added that 20k to the most recent all-cash offer he got, plus or minus the appraisal.

Did quick research and found something about installment taxes. So I'm not sure why they brought the sum of taxes up altogether. Can anyone clarify to why they brought this up?

Overall, I just want to make them comfortable and know where they're coming from. 

Looking forward to it!

@Courtney M. I have not, but I've studied the industry for 9 years and currently work for investors. 

I'll have to listen to it again. Thanks!

@Mike Dymski thanks for the book recommendations. Got discouraged today from a simple reality check on some deal numbers. 

My momentum gets very impacted by discouragement and usually end up at square one in regards to having the confidence to take on risk.

First post on the forums here so I figured a general discussion would be good. 

I am a naturally risk-adverse, perfection-oriented, control-oriented person and I'm sure there are others out there. I figure most of this comes from the lack of experience in taking risks or facing failure. 

Risk-Adverse turned Risk-Takers, what was the point of transformation in your mindset toward risk?