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Message
re: How to buy real estate anonymously?
Posted on 10/12/15 at 5:20 pm to Martini
Posted on 10/12/15 at 5:20 pm to Martini
Having been involved with a casino company trying to buy up many adjoining parcels of land I can tell you that it is tough to time all of the purchases so that some property owners do not hold out for a higher price having learned of all others parcels being bought. We had to pay for options to buy knowing the cost of the options would be less than the increased prices if our intentions became known. Then we only purchased the land once we got options on all that we desired.
A lot will depend on how much communication occurs among the owners of the various target properties. If they discuss receiving offers they can pretty much figure out what is going on, and use the information to their benefit. Nondisclosure agreements may help, but they are no guarantee, and they cannot prevent holdouts by those who are not parties to the nondisclosure agreements.
A lot will depend on how much communication occurs among the owners of the various target properties. If they discuss receiving offers they can pretty much figure out what is going on, and use the information to their benefit. Nondisclosure agreements may help, but they are no guarantee, and they cannot prevent holdouts by those who are not parties to the nondisclosure agreements.
1
Posted on 10/12/15 at 5:58 pm to Poodlebrain
Well the good thing is all are ready to sell and know the parcels are going up shortly. I'm one of the owners (portion of an estate) so I can be kept aware of all the communications but really they are just ready to sell.
I have one other problem. I have another parcel that I have to get out of in order to make this one work. I need the capital and want to make a 1031 exchange but don't want to let the buyer (of which I already have in place) know those intentions because of the timeframe. Then they could just ride it out and make me lower my number and if that were to happen I would have to pull from another funding source - which my wife says is her purse and it's off limits to me on this deal. It's getting to be quite the dance and I can see the end result working favorably but it's probably still 6 months out to put it all together. It is more complicated than anything I've ever done real estate wise so it's interesting and keeps me excited about it.
Thanks for the tips. Very appreciated.
I have one other problem. I have another parcel that I have to get out of in order to make this one work. I need the capital and want to make a 1031 exchange but don't want to let the buyer (of which I already have in place) know those intentions because of the timeframe. Then they could just ride it out and make me lower my number and if that were to happen I would have to pull from another funding source - which my wife says is her purse and it's off limits to me on this deal. It's getting to be quite the dance and I can see the end result working favorably but it's probably still 6 months out to put it all together. It is more complicated than anything I've ever done real estate wise so it's interesting and keeps me excited about it.
Thanks for the tips. Very appreciated.
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