All Forum Posts by: Tim Ivory

@Jose Flores Excellent and succinct advice! Mind if I ask you what you mean by contracting? Do you mean managing contractors, bids, etc?

Right on bro, is there anything you can tell me about the morristown market at all? So far I've heard from someone else from knoxville, that jefferson city, neighboring morristown, has good renovation to resale values. Also seems to be quite a sellers market currently.

Just looked up the bank but don't see any near my area. I wonder, is it necessary for the bank to be within the same town, or county atleast, I plan to invest in?

Cheers

I also wondered how the book would apply to wholesaling, or other low or no down payment investing options. I haven't read it yet, but I'm guessing it won't cover these aspects in detail. Maybe a wasted opportunity? Anywho, any solid literature covering these aside from the Virtual Wholesaling for Dummies? Something about that book rubs me the wrong way ...

Also, does the book going into any no or low payment options or is it more traditional buy and hold and/or brrrr type strategies? Does it go into detail wholesaling out of state, or subject to's, or lease options?

What format is the digital version? ePub or perhaps a pdf?

This is important info, would like to see it in the description.

I can see it myself on the tax assessors website, the lot is indeed subdivided into 15 little squares. Would this make it legal? Furthermore, I believe he is also open to selling them individually.

Thanks guys for your replies, especially Jay, it's nice to run into you again ;)

An update, it seems the land is subdivided into 15 lots adjoining a golf course, not the golf course per say (slightly misleading marketing imo). He says there is a 'new' sub division around the lot, near the front entrance of the gold course, but zillow is showing the newest house built around this area is 2015; time is apparently relevant.

It might still be worth the effort to contact one or two of the major developers in the area to gauge any interest. I can use it as a learning experience.

Greetings, I'm Tim, an investor in learning, considering an investment strategy where refinancing will become important. I am looking to connect with any investment friendly lenders to prequalify me. I am wide open to referrals.

I'm from Morristown TN, 40 minutes east of Knoxville, within Hamblen County. 

Thanks.

A potential deal came my way on some rather beautiful land with a golf course, 6 acres. Seller will owner finance the entire asking price of 130k. I haven't read too much about the concepts and strategies for owner financing land so was wondering what questions I should be asking to determine if I should jump on the deal or not.

I have 10k saved up so I'm confident I can make the payments for a good while, enough to see if my exit strategy will work?

So, what is the potential here?

1. Cash flow from collecting funds from the golf course 

2. Selling land to contractors (not sure yet about the market conditions yet)

3. Market Land directly to builders?

I can think of a few other ways to make use of the land, perhaps, to collect revenue, but for now, from an investing standpoint, how would you guys approach this deal assuming its a good one ( low monthly payments, no or very low interest).

Is it uncommon to have contigencies in play in case I can't make use of the land or sale it to someone else within a timeframe so I'm not stuck with a bad investment? If I can minimize the risk, I might jump on it.

 Hi guys, interesting discussion here. I'm really hoping someone can expand a little more about the land contract terms? What is it first of all and why is it then so beneficial? When wholesaling a property, I thought the land was also included, so when people buy houses the land is generally included, right?