All Forum Posts by: Arun Chandra

Hello,

Is this still available? If so please PM me info..

Thanks!

Hello,

Is this still available?

@Josh Foret 

Hey Josh,

Just wanted to touch base and see how things are going. Any updates or recent activity?

-Arun Chandra

Hey @Derrick Dill,

Congrats on finish school and welcome to BP! My wife is also a nurse and her and I are in the market for a house hack property along the same area.

I am a investor friendly agent and I think Long Beach will be easier for you to find a duplex property. Another thing to maybe consider for the price point would be a 2-3 bedroom condo and renting out the extra rooms. I know condos are not popular investments cause of the HOA fees but it might be help get you in something sooner rather than waisting money on rent.

If you come across anything you have questions about please feel free to contaf

Good luck!

-Arun Chandra

Hello,

I've been looking for creative methods to utilize the funds in my Self directed IRA to purchase Real Estate. I don't have enough to purchase the type of SFR I want, and I am wondering if I would be able to use the funds from my IRA as a down payment for a owner financed deal?

Scenario: Seller of SFR (not related to me in any way) owner finances me her house at X% interest rate for X amount of years.

I will have a property manager that handles all operations/financials and my self directed IRA will receive all income and pay all expenses. I don't touch any of the money, ever. (Well, maybe when I retire... Lol)

Any potential issues? Is this consider off normal practice or a standard transaction with SDIRA? 

Thanks in advance for your input!

-Arun Chandra

Hello,

I found a property in Greenville,TX and the sellers are motivated to sell. They own the property out right, and have a tax lien for $2300. Property needs rehab, and they need to move due to job relocation out of state. 

Greenville, TX 75401 

4 beds 2.5 baths 2,688 sqft

Thanks,

Arun Chandra

"50% of a deal is better than 100% of no deal."

-@Brandon Turner

Wow. I am very glad I decided to post on this before moving forward. 

I guess I will look for properties that can be purchased solely by the IRA and avoid the partnership route.

Thanks again everyone for your responses.

-Arun Chandra

Hello,

I have been working on a investment plan and would like some guidance. I want to purchase a property with cash from a IRA and put the IRA and myself as percentage owner on title. I spoke with the self directed IRA custodian and they said this is acceptable.

Example: Buy a $110ARV for $80K cash with IRA funds. Use $10K personal funds (Line of credit) to rehab. Rent the property out for one year.

The part I would like more help understanding is the "refinance" portion. Would a lender refinance the property to me, so I can get the cash back to the IRA? Or would they do a completely new loan? Or is this not normal practice?

The property would be in Dallas, TX.

Any help is appreciated.

Thanks in advance!

-Arun Chandra

@Melissa Johnson

I've had too many of those types of experiences with agents myself, so I got my license too lol. Good luck with everything and keep me posted if you find any awesome cash purchase deals!

-Arun

@Melissa Johnson

Hi Melissa!

I purchased a home last year in that area. My agent sent me recently sold comps and rental comps so I could see how much I would get in rent for the property. Another thing he sent me was a competitive market analysis which makes it easier to look through the data by giving you categories to look through. Basically the same thing.

Now did your agent actually say they couldn't give you comps AND that it was illegal?!