All Forum Posts by: Mark Pierce

Yep. Offer was $246k. Appraised at $243k. Seemed a little silly. Thankfully it only took a sentence in the contract to make it a non-issue for me. 

We had a similar sell of our primary residence last year. The realtor put a clause in to the extend of "if the house doesn't appraise for the offered amount then the buyer is responsible for the difference". Worked wonderful because the house appraised 3k less than the offer and they had to make the difference.

A buddy and I have decided to get into a few deals together. How do most people set up the business? Do you establish a LLC and then buy the house through that or people buying with their own name? We both make plenty of money to qualify for several loans so should we consider individually buying the house to get more loans? Generally I'm looking for a few ideas on how to get something organized for long term growth.

Thanks @Devan Mcclish and @Brandon Brown; very helpful information. I'm still trying to figure out the niche and market I want to pursue. I probably need to have a few deals under by belt before I start asking for big investments. 

@Devan Mcclish, @Brandon Brown: I'm new to the investment market but looking to get into some properties in the Nashville area. Can you expand a little on what you're doing with these HPR's. What lot size are you looking for? What's the typical construction period? Are you hold or selling? Not trying for industry secrets, I just want to explore this option which I hadn't thought of before. 

Hey all. I'm in Franklin and looking to get into the market as well. Count me in for a meet up.