Fairly New RE Investor Learning the Ropes

[Kate Bolia]

I’m relatively new to RE.  I built a house in Bali, Indonesia that I put on the short term rental market and it’s been going well.  It cash flows approx $2,500/month.  I had absolutely no idea what I was doing when I started.  I just had a feeling it would be a good investment and jumped thru a bunch of hoops to make it happen.  My research has lead me to a plan of holding onto it for approximately 5 years and then selling.  I may re-invest in Bali at that point, it really just depends on how well I’ve done and what’s going on in the Bali market. 

Now I'm looking to roll some money over from my IRA to a self directed Roth and start investing in some RE here in the states. I'm eager to learn, but want to get started right away, so I'm thinking of making a few investments with Spark Rental as a passive investor.

My boyfriend is a contractor and we have discussed doing a couple of flipping deals and/or doing long-term rentals here in the Atlanta area.  I want to learn as much as I can about deals before we pull the trigger on something, so we make the best decision.  I’m looking forward to connecting with some RE investors here in the Atlanta area, as well as the larger community, for knowledge and advice.  In and ideal world, I’d love to find a mentor that I could assist in exchange for learning the ropes! 

Thanks!

[Brett Synicky]

Quote from @Kate Bolia:

I’m relatively new to RE.  I built a house in Bali, Indonesia that I put on the short term rental market and it’s been going well.  It cash flows approx $2,500/month.  I had absolutely no idea what I was doing when I started.  I just had a feeling it would be a good investment and jumped thru a bunch of hoops to make it happen.  My research has lead me to a plan of holding onto it for approximately 5 years and then selling.  I may re-invest in Bali at that point, it really just depends on how well I’ve done and what’s going on in the Bali market. 

Now I'm looking to roll some money over from my IRA to a self directed Roth and start investing in some RE here in the states. I'm eager to learn, but want to get started right away, so I'm thinking of making a few investments with Spark Rental as a passive investor.

My boyfriend is a contractor and we have discussed doing a couple of flipping deals and/or doing long-term rentals here in the Atlanta area.  I want to learn as much as I can about deals before we pull the trigger on something, so we make the best decision.  I’m looking forward to connecting with some RE investors here in the Atlanta area, as well as the larger community, for knowledge and advice.  In and ideal world, I’d love to find a mentor that I could assist in exchange for learning the ropes! 

Thanks!

 Well done what a great investment!
When it comes to self directing the two most popular vehicles are self directed IRA and Solo 401K. for real estate it's helpful to use a checkbook IRA for efficiency and some liability protection with the LLC.
Learn more about checkbook IRA here: https://www.biggerpockets.com/member-blogs/2810/blog_posts/2...

If you’re self employed with no full time employees the solo 401K is in many ways the “Ultimate Retirement Plan”
Learn more about solo 401K here: https://www.biggerpockets.com/member-blogs/2810/21298-solo-4...

Be aware of prohibited transactions and disqualified parties.