Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago, 03/25/2022

User Stats

4
Posts
4
Votes
Camille Upchurch
  • North Potomac MD
4
Votes |
4
Posts

Bought in self-directed IRA

Camille Upchurch
  • North Potomac MD
Posted

Investment Info:

Townhouse buy & hold investment in Mitchellville.

Purchase price: $320,000
Cash invested: $320,000

3 B/2.5 BR

What made you interested in investing in this type of deal?

I had been preparing to begin a portfolio of buy and hold investments for several years. I grew up in this county and still live close to the area. I realize that properties in this area rent quickly. It was a good first purchase even in a difficult real estate market.

How did you find this deal and how did you negotiate it?

I found this deal using my realtor as well as realtor.com. It was in my price range, less than 350 K. I purchased at 5K less than asking. I did not spend a lot of time negotiating the price down. The price was reasonable for the market and I was eager to get my feet wet and begin the work of building a team and providing a reliable home for someone.

How did you finance this deal?

Cash. I made an unusual move and purchased the property inside my self-directed IRA.

How did you add value to the deal?

Overtime I will be adding value. Updating the fence etc.

What was the outcome?

I have just nailed down a property manager to help me with locating a tenant etc.

Lessons learned? Challenges?

With the right intention and preparation it WILL happen:-). I am extremely eager to work on my next deal. I am choosing to give myself several months of getting accustomed to challenges, pitfalls before jumping into the next deal.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Universal Title in Bowie Maryland
Thank you Storr, Realtor with Redfin

Loading replies...