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Updated about 4 years ago,

User Stats

28
Posts
12
Votes
Melissa Zimmermann
  • Real Estate Broker
  • Billings, MT
12
Votes |
28
Posts

Purchase condo with self directed IRA

Melissa Zimmermann
  • Real Estate Broker
  • Billings, MT
Posted

Investment Info:

Condo buy & hold investment in Billings.

Purchase price: $120,000
Cash invested: $120,000

All cash- used a self directed IRA.

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

Condos essentially are hands free as far as maintenance. A few things on the inside that the condo owners are responsible for. Self directed IRA's don't allow the owner to do work themselves.

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

MLS, it was already priced well and was on the market awhile. Essentially, it needs updating, otherwise it was in good shape.

How did you finance this deal?

Self directed IRA

How did you add value to the deal?

After holding, we will use the proceeds which are going back into the self directed IRA to update it and sell it, when retiring.

What was the outcome?

Tenants are still renting

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

Yes, I am a real estate agent, but due to it being a Self Directed IRA. I can't accept any commissions.

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