Buying a property or holding a note

[Guy Yoes]

We sold a property ( after holding for 5 years) that was held in our self-directed IRA. We paid 113,000 for the property and sold it for 122,800. The property rented for 1000.00 a month and had the same tenants for all 5 years. We are trying to decide if we should buy another property in the same area or buy a 5 year note that is paying 9% interest only with the initial investment return at the end of the note.

The expense on the property was 2100.00 for taxes and insurance plus about 6000.00 total in maintenance/repairs.

We are mid 50's and travel some, so not having to oversee the management is attractive.